Single-use Bioprocessing Systems Market (2016) : Industry Insights With Key Company Profiles - Forecast To 2024

According to a new research study by Transparency Market Research (TMR), the Asia Pacific single-use bioprocessing systems market is highly dynamic, thanks to the large pool of multinational as well as small regional players, which makes it quite competitive.

In 2015, around 95% of the overall market was acquired by eight leading players, namely, Parker Hannifin Corp., Corning Inc., Saint Gobain, Danaher Corp., GE Healthcare, Merck kGaA, Thermo Fisher Scientific, and Sartorius AG. The report suggests a possibility of a moderate decline in the competition within the market in the near future because of the product differentiation.

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The market for single-use bioprocessing systems in Asia Pacific was worth US$495.0 mn in 2015, reports the research study. Analysts at TMR expect the opportunity in this market to expand at a CAGR of 12.50% over the period from 2016 to 2024 and reach a value of US$1,417.2 mn by the end of the forecast period. Single-use bags have been witnessing a greater demand from consumers when compare to other products available in this market. The trend is likely to remain same over the next few years, owing to the higher product uptake in research laboratories and pilot-scale bioprocessing plants.

Pharmaceutical Sector to Surface as Leading End User for Single-use Bioprocessing Systems in Asia Pacific

The report considers the pharmaceutical sector, the biotechnology industry, CROs and CMOs, and various academic and research institutes as the prime end users of single-use bioprocessing systems in Asia Pacific. Among these, the pharmaceutical sector has been reporting a significantly high demand for single-use bioprocessing systems and is expected to continue doing so over the next few years. In 2015, this segment held a share of 34.5% of the overall demand for these systems in Asia Pacific. The increasing prevalence of cancer, rising expenditure on healthcare, improving medical and healthcare infrastructure in emerging Asian economies, and the escalating geriatric population are anticipated to fuel the uptake of single-use bioprocessing systems in this sector during the forecast period.

China, Japan, India, South Korea, Taiwan, Australia and New Zealand, South East Asian countries and the Rest of Asia Pacific have been considered as the key geographical segments of the Asia Pacific market for single-use bioprocessing systems in this research study. China emerged as the leading geographical segment in this regional market in 2015 with a share of 33%. The presence of many well-established players and continual introduction of new products has boosted this domestic market considerably over the last few years. Researchers expect the China market for single-use bioprocessing systems to retain its position in the near future, thanks to the rising demand for cost efficient and preassembled modular bioprocessing plants, increasing introduction of new products, and the significant growth of pharmaceutical and the biotechnology industries, states the research report.

Low Initial Investments to Increase Deployment of Single-use Bioprocessing Systems

“Single-use bioprocessing systems are highly cost-effective, which is reflecting greatly on their popularity among end users,” says an analyst at TMR. In comparison to stainless steel equipment, single-use bioprocessing products require low initial capital investments for their deployment, which reduces the capital cost of building and retrofitting biopharmaceutical manufacturing facilities. This factor has been fueling the demand for these systems substantially and is expected to remain doing so over the next few years.

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The decrease in the time consumed by processes, such as SIP and CIP, is also projected to boost the Asia Pacific single-use bioprocessing systems market remarkably over the forecast period. However, the technical difficulties and the environmental concerns regarding the usage of disposables may hamper the market’s growth in the years to come, notes the study.

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This release was published on openPR.