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Bioprocess Technology market: Drivers, Threats, and Opportunities between 2024-2033
Bioprocess Technology Market Trends
As per the report, the bioprocess technology market size has grown rapidly in recent years. It will grow from $21.9 billion in 2023 to $25.62 billion in 2024 at a compound annual growth rate (CAGR) of 17.0%. The bioprocess technology market size is expected to see rapid growth in the next few years. It will grow to $45.04 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%.
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Rising Demand From Healthcare Industries Fuels Expansion In The Bioprocess Technology Market
Growing demand from healthcare industries is expected to propel the growth of the bioprocess technology market going forward. Healthcare industries refer to companies or organizations that provide medical and healthcare-related products, services, and technologies. Bioprocess technology uses living cells such as those from bacteria or mammals to produce therapeutic proteins, vaccines, and other biologics that support the manufacturing of biopharmaceuticals and other healthcare products. For instance, in 2021, according to a report published by the American Medical Association (AMA), a US-based professional organization that represents physicians and medical students, health spending in the U.S. rose by 2.7%, amounting to $4.3 trillion, or $12,914 per capita. Hospital care accounted for 31.1% of total spending, with physician services, clinical services, and home health care accounting for 24%. Therefore, the growing demand from healthcare industries is driving the growth of the bioprocess technology market.
Getinge Livit Flex Redefines Bioprocess Technology For Pharmaceutical And Biotech Advancements
Major companies operating in the bioprocess technology market are innovating technological advanced products, such as the Livit Flex, to gain a competitive edge in the market. Livit Flex is as an intuitive system for bioprocess control designed for acceleration of research and development (R&D) processes for pharmaceuticals and biotech products. For instance, in December 2022, Getinge, a Sweden-based Healthcare company launched Livit Flex. Livit Flex provides flexibility, customization, simplicity, and time and cost-efficiency for process optimization. It is equipped with smart sensor technology and easy-to-use software functionalities. It allows users to quickly set up parallel experiments and monitor all data from one central location. Livit Flex is configured as a single or dual control system for single-use or multi-use bioreactors to optimize bench space in the laboratory.
The bioprocess technology market covered in this report is segmented -
1) By Type: Cell Culture, Cell Expansion, Flow Cytometry, Cell Line Development, Virus Infiltration
2) By Application: Biopharmaceuticals, Specialty Products, Industry Chemicals, Environment Management Aid
3) By End User: Hospitals, Research labs, Medical Institutions, Other End Users
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Major companies operating in the bioprocess technology market report are Sartorius AG, Danaher Corporation, Thermo Fisher Scientific Inc., Lonza Group AG, F. Hoffmann-La Roche Ltd., Becton Dickinson and Company, Merck KGa, GE Healthcare, Eppendorf AG, Bio-Rad Laboratories, Alere Inc., Fujifilm Healthcare Americas Corporation, Catalent Inc., Asahi Kasei Medical America Inc., Advanced Instruments LLC, Nova Biomedical Corporation, MilliporeSigma, Repligen Corporation, Danaher Corporation, PerkinElmer Inc., Applikon Biotechnology, New Brunswick Scientific Co. Inc., Avid Bioservices, ZETA Holding GmbH, Meissner Filtration Products, ABL Europe, ARTeSYN Biosolutions, Charles River Laboratories, Parker Hannifin Corporation, Shimadzu Corporation, 3M, Eppendorf Biochip Systems, Fermenter Bioreactor, YMC Europe GmbH, Solaris Biotechnology Srl, Aber Instruments, Cytiva .
Contents of the report:
1. Executive Summary
2. Bioprocess Technology Market Report Structure
3. Bioprocess Technology Market Trends And Strategies
4. Bioprocess Technology Market - Macro Economic Scenario
5. Bioprocess Technology Market Size And Growth
…..
27. Bioprocess Technology Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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