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Global Bioprocess Technology Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global Bioprocess Technology Market
Global bioprocess technology market projected to be valued at US $ 22, 400 Mn by 2023 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2018 to 2024
Market Outline: Global Bioprocess Technology Market
Bioprocess technology is a part of Biotechnology that combines living matter in the form of enzymes or organisms with nutrients under optimal conditions to create bio-therapeutics, special chemicals, and reagents. Bioprocess technology helps in the discoveries of life sciences into practical and industrial products. Various stages of bioprocess technology include substrates and media, bioprocess technology comprise biocatalysts, volume production, downstream processing, final processing, and purification.
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Market Dynamics: Global Bioprocess Technology Market
Increase in the R&D in life sciences research due to rise in government support for the biotechnology and biopharmaceutical industries is expected to contribute towards the growth of global bioprocess technology market. Moreover, rise in prevalence of chronic diseases such as cancer, increase in the newer product launches, growing need for medicines and therapeutics to treat chronic diseases, and technological advancements in bioprocess technology are expected to fuel the global bioprocess technology market over the forecast period. However, high cost of R&D, high cost of equipment, and lack of skilled professionals are the major factors may restrain the growth of global bioprocess technology market over the forecast timeframe.
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Market Scope: Global Bioprocess Technology Market
Global bioprocess technology market is segmented based on product type, technique, application, and end user
Based on the product type, the market is segmented into the following:
• Assay Kits
• Reagents
• Beads
• Micro Plates
• Others
Based on the technique, the market is segmented into the following:
• Cell Culture
• Cell Expansion
• Cell Line development
• Cell Counting
• Flow cytometry
• Virus Filtration
• Biological Safety Testing
• Pyrogen Testing
• Others
Based on the application, the market is segmented into the following:
• Biopharmaceuticals
• Agriculture Industry
• Petroleum Industry
• Chemical Industry
• Others
Based on the end user, the market is segmented into the following:
• Hospitals
• Academic and Research Laboratories
• Biopharmaceuticals and Biotechnology companies
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Regional Analysis: Global Bioprocess Technology Market
Geographically, global bioprocess technology market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America bioprocess technology market is expected to account for significant share due to increase in the R&D activities by the biotechnology and biopharmaceutical companies, rise in prevalence of chronic diseases such as cancer, and rise in demand for best quality medicines. Europe bioprocess technology market has a lucrative growth, which is attributed to establishment of newer biopharmaceutical and biotechnology companies, frequent product launchings, and rise in adoption of bioprocessed products due to non-toxicity are expected to bolster the market. However, a significant growth observed in Asia Pacific bioprocess technology market due to increase in the investment by major market players, rise in R&D activities, large patient pool, and development in healthcare infrastructure.
Competition Assessment: Global Bioprocess Technology Market
Some of the players in the global bioprocess technology market include:
• Merck Millipore (Germany)
• Danaher Corporation (U.S.)
• Becton, Dickinson and Company (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• General Electric Company (U.K.)
• Bio-Rad Laboratories, Inc.(U.S.)
• Lonza Group Ltd. (Switzerland)
• Abbott Laboratories (U.S.)
• Repligen Corporation (U.S.)
Notable Market Developments: Global Bioprocess Technology Market
In November 2017, GE Healthcare acquired Puridify, a UK-based bioprocessing start-up focused on the nanofiber-based platform purification technology for biopharmaceutical production
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