Single-use Bioprocessing Material Market Valued to US$ 9,342.1 Million by 2023 - Growth Registered at 18.7% CAGR

Single-use bioprocessing technology has gained significant traction in recent years, owing to the rapid adoption of disposable bioprocessing equipment by pharmaceutical manufacturers. This has fueled the manufacturers to integrate different materials in the construction of single-use bioprocessing products. These products have also proved beneficial for the small scale pharmaceutical manufacturers.

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Hence, most biopharmaceutical companies utilize single-use bioprocessing technology for manufacturing vaccines, monoclonal antibodies, and other pharmaceutical components on a commercial scale. This has spurred the demand for high-grade plastic and silicone materials in the development of SUB products.

According to a new report published by Allied Market Research, titled, "Single-use Bioprocessing Material Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global single-use bioprocessing material market was valued at $2,800.0 million in 2016, and is projected to reach $9,342.1 million by 2023, growing at a CAGR of 18.7% from 2017 to 2023. The plastic segment accounted for a five-eighths share of the global market in 2016.

Major Players:

•Thermo Fisher Scientific
•Danaher Corporation
•GE Healthcare (General Electric Company)
•Sartorius Stedim Biotech S.A
•Merck Millipore (Merck Group)
•3M Company
•Eppendorf AG
•Finesse Solutions Inc.
•Applikon Biotechnology B.V.
•Cesco Bioengineering Co.Ltd.

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Key Findings of the Single-use Bioprocessing Material Market:

•The silicone material segment accounted for the second largest share in the global market in 2016 and is expected to maintain this trend throughout the forecast period.

•Other plastic material segment is anticipated to grow at the fastest pace from 2017-2023.

•Contract research organization & manufacturers registered the highest growth in the global single-use bioprocessing material market during the forecast period.

•North America dominated the single-use bioprocessing material market in 2016 and is anticipated to maintain this trend throughout the forecast period.

•The UK is anticipated to grow at the fastest pace in the European single-use bioprocessing market during the forecast period.

Asia-Pacific witnessed the highest growth rate for single-use bioprocessing market and is expected to continue this trend throughout the forecast period. This is attributed to the rise in expenditure on healthcare along with the improvement in medical and healthcare infrastructure.

In addition, the key market players focus on the opportunities offered by the growing demand for single-use bioprocess systems. Such systems are highly cost-effective, which has gained popularity among end users in this region. Moreover, significant growth of pharmaceutical and the biotechnology industries across the countries of the Asia-Pacific region have supplemented the market growth.

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About Us:
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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