Press release
Continuous Bioprocessing Market Worth $429.12 million by 2028
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According to Meticulous Research®, the continuous bioprocessing market is poised to experience a significant CAGR of 23.0%, soaring from $100.75 million in 2021 to an estimated $429.12 million by 2028. This growth is primarily fueled by the escalating demand for biopharmaceuticals, advancements in continuous bioprocessing technologies, and increased governmental backing for biopharmaceutical manufacturing. The burgeoning opportunities in emerging markets such as Asia-Pacific and Latin America, coupled with the rising approval for personalized medicines, further contribute to the market's upward momentum. However, challenges like contamination risks, technical complexities, and a shortage of bioprocessing professionals may impede widespread adoption.
Continuous Bioprocessing Market: Future Outlook
The global continuous bioprocessing market study encompasses historical market data for 2019 and 2020, estimates current data for 2021, and forecasts trends through 2028. It delves into product segments (Filtration, Chromatography, Centrifuges, Consumables), applications (Commercial {Vaccines, Monoclonal Antibodies}, R&D), end-users (Pharmaceuticals, Biotechnology, CROs), and geography. The report also conducts a thorough analysis of industry competitors and their market share on both global and regional scales.
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In 2020, the filtration systems and consumables segment claimed the largest market share, driven by the increasing demand for elevated filter performance in biopharma manufacturing. The segment's growth is bolstered by the development of filtration technologies tailored for continuous bioprocessing.
The research and development segment is anticipated to exhibit the highest CAGR, fueled by increased R&D efforts to combat COVID-19, the growing significance of monoclonal antibody manufacturing, and accelerated research in cell and gene therapy.
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Among end-users, the CDMOs and CROs segment is forecasted to witness the highest CAGR. This growth is attributed to heightened investments in CDMOs and CROs, coupled with the gradual transition from batch to continuous manufacturing.
Geographically, North America dominated the global continuous bioprocessing market in 2020, followed by Europe. Nevertheless, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period.
Key Players in the Continuous Bioprocessing Market
Prominent players shaping the continuous bioprocessing market include 3M (U.S.), Cytiva (U.S.), Thermo Fisher Scientific, Inc. (U.S.), Merck KGaA (Germany), Sartorius AG (Germany), Repligen Corporation (U.S.), Eppendorf AG (Germany), Applikon Biotechnology (Netherlands), Pall Corporation (U.S.), and Bionet (Spain).
Mr. Khushal Bombe
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