Bioprocess Technology Market : Business Growth, Development Factors, Applications, and Future Prospects

Bioprocess Technology Market Outlook 2031

• The global bioprocess technology market was valued at US$ 22.4 Bn in 2020
• It is estimated to expand at a CAGR of 8.3% from 2021 to 2031
• The global bioprocess technology market is expected to reach the value of US$ 53.7 Bn by the end of 2031

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Analysts' Viewpoint

Manufacturers in the global bioprocess technology market are capitalizing on government stimulus packages to stay financially afloat amid ongoing COVID-19 pandemic. Untapped opportunities for the treatment of chronic diseases at genetic level are helping to bridge the gap between individuals who are keen on accessing treatment alternatives. Hence, companies in the bioprocess technology market should invest in R&D to innovate in cell-level and DNA-level treatment options to increase life expectancy of patients. Although disposable systems are usually preferred in early stage development, stainless steel bioreactors are still being extensively utilized for full-scale production in North America. On the other hand, the market in Europe is being steered by the rise in demand for different products such as monoclonal antibodies, antibiotics, and biosimilars.

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Biopharmaceutical Companies Boosting R&D with Surging Number of Chronic Diseases

The high prevalence of cancer and other chronic diseases is fueling the demand for innovations in the bioprocess technology. The ever-expanding pharmaceutical industry is translating into revenue opportunities for stakeholders in the global bioprocess technology market. The surge in the demand for vaccines and proteins has induced pharmaceutical and biotechnology companies to increase production of therapeutics, bolster research studies, and other investigations.

Biopharmaceutical outsourcing is emerging as a promising strategy to address the unmet medical needs among patients. This has led to rise in usage of bioprocessing systems with better process efficiency and throughput. These systems offer an advantage for adherence with regulatory compliance processes. An increasing number of biopharmaceutical companies are opting for single-use systems, as they deliver cost-efficiency and technological advancements due to growing capacities and capabilities.

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Manufacturers Allocating Budgets to Ensure Resilient Supply Chains amid COVID-19 Pandemic

Manufacturers in the bioprocess technology market have been working at break-neck speeds amid the ongoing COVID-19 pandemic to ensure robust supply of consumables, instruments, cell counters, and the likes. As the U.S. and other regions of the world with high population such as India and Brazil are bracing themselves, Shanghai in China is yet again under great emphasis for the Wuhan virus.

Even as the production and movement of goods are slow, manufacturers are rethinking their budget for allocating sufficient capital & expenses to ensure business continuity. They are increasing the availability of life-saving medical devices to improve patient outcomes.

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Investments in Bioprocess Hardware Helps Accelerate Turnaround Times

The bioprocess technology market is estimated to grow at a robust CAGR throughout the assessment period. However, this market is governed by stringent regulatory framework, since public health concerns are a top priority for CMOs (contract manufacturing organizations), CROs (contract research organizations), and CDMOs (contract development and manufacturing organizations).
Hence, stakeholders should increase R&D to expand their creation limits and reduce the turnaround time to introduce new medications in the market. Companies should invest in bioprocess hardware to offer imaginative, safe, and highly precise solutions to fulfill the expansion in need from biopharmaceutical organizations.

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Cell-level Treatment Innovations Hold Potentials in Early Detection of Chronic Diseases

The lack of research for life-threatening health conditions such as the Crohn's disease is creating opportunity windows for companies in the bioprocess technology market. Healthcare solutions at cell-level hold promising potentials to treat diseases at the foundation level. Cell-level treatment innovations have the capability to detect early symptoms of chronic diseases and can help to reduce its severity in future, thus benefitting patient quality of life. These strategies have the potential to increase life-expectancy, especially in the geriatric population. Thus, treatments that can alter the DNA at genetic level have the capability to improve patient outcomes.

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