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Continuous Bioprocessing Market is projected to reach $1.32 billion by 2031
Meticulous Research®– a leading global market research company published a research report titled “Continuous Bioprocessing Market by Product (Filtration, Chromatography, Centrifuges, Consumables), Application (Commercial {Vaccines, Monoclonal Antibodies}, R&D), End User (Pharmaceuticals, Biotechnology, CROs), and Geography - Forecast to 2028”.Download free Sample Report Here: https://www.meticulousresearch.com/download-sample-report/cp_id=5079?utm_source=article&utm_medium=social+&utm_campaign=product&utm_content=15-05-2024
According to this latest publication from Meticulous Research®, the continuous bioprocessing market is expected to grow at a CAGR of 23.0% from $100.75 million in 2021 to $429.12 million by 2028. The growth in the overall continuous bioprocessing market is mainly attributed to the growing demand for biopharmaceuticals, growing development of new technologies and products related to continuous bioprocessing, and rising government support for biopharmaceutical manufacturing. In addition, significant opportunities from emerging Asia-Pacific and Latin American regions and growing approval for personalized medicines further support this market's growth. However, factors such as the high risk of contamination with continuous bioprocessing, the complex and technically unfeasible nature of continuous bioprocessing in downstream processes, and shortage of bioprocessing professionals are expected to hinder the adoption of continuous bioprocessing.
Continuous Bioprocessing Market: Future Outlook
The global continuous bioprocessing market study presents historical market data in terms of values (2019 and 2020), estimated current data (2021), and forecasts it for 2028– Product (Filtration, Chromatography, Centrifuges, Consumables), Application (Commercial {Vaccines, Monoclonal Antibodies}, R&D), End User (Pharmaceuticals, Biotechnology, CROs), and Geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.
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Based on product, the filtration systems and consumables segment accounted for the largest share of the market in 2020. The growing demand for higher standards of filter operations in biopharma manufacturing is one of the major drivers for the growth of this segment. Filter manufacturers are developing filtration technologies for continuous bioprocessing to achieve both separation and purification through a combination of physical removal capabilities of filtration and size exclusion.
Based on application, the research and development segment is expected to grow at the highest CAGR during the forecast period. The rising focus of R&D to develop vaccines and suitable therapies for COVID-19 and growing relevance of mAb manufacturing for the treatment of various diseases are driving the market growth. The R&D in cell and gene therapy is also accelerated, with over 900 candidates in clinical studies. Facility expansions of CROs or CDMOs to advance research in these areas are expected to boost market growth.
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Based on end user, the CDMOs and CROs segment is expected to grow at the highest CAGR during the forecast period. Rising investments in CDMOs and CROs and the gradual shifting of CDMOs from batch to continuous manufacturing are driving the market growth.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, and RoAPAC), Latin America, and the Middle East & Africa. In 2020, North America commanded the largest share of the global continuous bioprocessing market, followed by Europe and Asia-Pacific. However, the Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
The key players operating in the continuous bioprocessing market are 3M (U.S.), Cytiva (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Merck KGaA (Germany), Sartorius AG (Germany), Repligen Corporation (U.S.), Eppendorf AG (Germany), Applikon Biotechnology (Netherlands), Pall Corporation (U.S.), and Bionet (Spain).
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