Latest TMR Report Explores Impact of COVID-19 Outbreak on Bioprocess Instruments and Consumables Market

Bioprocess is defined as a technique used to produce biological products such as genetically microbial strains, commercially useful chemicals, etc.. Increase in interest in life science areas such as pharmacology & toxicology and biotechnology for the development of advanced medicines and vaccines has created a need for advanced bioprocess technology.

The global bioprocess instruments and consumables market is driven by expansion in the biopharmaceutical industry, , technological advancements, increase in demand for vaccines, and rise in the number of new drug launches. On the other hand, limited adherence of biological product development and shift toward stratified medicine are likely to restrain the global bioprocess technology market during the forecast period.

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In 2017, the FDA approved five biosimilars products for several indications such as Renflexis (May 2017), Cyltezo (August 2017), Mvasi (September 2017), Ogivri (December 2017), and Ixifi (December 2017). In 2018, two biosimilars products have been approved by the U.S. FDA: Retacrit (May 2018) and Fulphila (2018). Increase in approvals of biosimilars in the U.S. and stainless steel facilities for large-scale commercial use are anticipated to provide expansion opportunities to the global bioprocess technology market during the forecast period.

By product, the global bioprocess instruments and consumables market is segmented by Instruments and consumables and accessories. Furthermore, the global bioprocess instruments and consumables market is classified into bioprocess analyzers, blood gas analyzers, osmometers, bioreactors, incubators, cell counter systems and others (mass spectroscopy, centrifugation, filtration etc.). On the other hand, the global bioprocess instruments and consumables market is categorized into culture media, reagents and others. In terms of application, the global bioprocess instruments and consumables market can be divided into antibiotics, recombinant proteins, biosimilars, and others. Based on end-user, the global bioprocess instruments and consumables market can be segmented into biopharmaceutical companies, contract manufacturing organizations, academic research institutes, food and feed industry, contract research organization, and others.

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In terms of region, the global bioprocess instruments and consumables market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global bioprocess instruments and consumables market in 2017, accounting for a major market share. The expansion of the bioprocess instruments and consumables market in North America is fuelled by the availability of advanced technology and undertaking of a large number of research studies in the U.S.

Europe is estimated to account for a significant market share in 2017.The market in the region is anticipated to expand at a significant growth rate during the forecast period. The market in Europe is driven by the expansion of the biopharmaceutical industry in the region; rise in demand for different products such as antibiotics, bio-similars, monoclonal antibodies, and recombinant proteins; and cost reductions of these products. The bioprocess instruments and accessories market in Asia Pacific is anticipated to expand at a rapid rate during the forecast period. High competition, increase in R&D expenditure of pharmaceutical and biotechnology companies, and shift of contract research organizations toward Asia Pacific are fuelling the bioprocess technology market in Asia Pacific.

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The bioprocess instruments and consumables market in Latin America is estimated to constitute a key market share. The market in the region is likely to expand at a significant rate during the forecast period. Latin America, particularly Brazil, is a promising destination for the bioprocess technology market. Rise in prevalence of diseases, demand for antibiotics and vaccines, development of biosimilars, and partnership among institutional private players are likely to boost the bioprocess technology market in Latin America during the forecast period. On the other hand, the underdeveloped bioprocess industry, low presence of key vendors, and unaffordability of expensive instruments are likely to hamper the expansion of the bioprocess instruments and consumables market in Middle East & Africa during the forecast period.

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Key companies operating in the global bioprocess instruments and accessories market are Thermo Fisher Scientific, Inc, Sartorius AG, Roche, GE Healthcare, Danaher, Nova Biomedical, Advanced Instruments, Inc., Lonza, Becton, Dickinson and Company, and Siemens Healthneers and others.

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