Bioprocess Bags Market Growth, Trends & Forecast 2024-2033

The Business Research Company recently released a comprehensive report on the Global Bioprocess Bags Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The bioprocess bags market size has grown rapidly in recent years. It will grow from $2.76 billion in 2023 to $3.25 billion in 2024 at a compound annual growth rate (CAGR) of 17.9%. The growth in the historic period can be attributed to increased adoption of single-use bioreactors, increased focus on contamination prevention, cost savings in bioprocessing operations, rise of biopharmaceutical industry, flexibility in bioproduction processes.

The bioprocess bags market size is expected to see rapid growth in the next few years. It will grow to $5.92 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%. The growth in the forecast period can be attributed to improved sterilization techniques, enhanced quality control measures, adoption of next-generation bioprocessing solutions, shift towards modular bioprocessing, rising demand for personalized medicines, growing demand for biologics, bioprocess bags with enhanced connectivity. Major trends in the forecast period include advances in biopharmaceutical manufacturing, advancements in single-use technologies, development of high-capacity bioprocess bags, sustainable and eco-friendly bioprocess materials, artificial intelligence in bioprocessing.

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Market Drivers and Trends:

The rapid growth of biotechnology firms is expected to propel the growth of the bioprocess bag market going forward. Biotechnology companies apply biological knowledge, tools, and techniques to produce products and services for various industries. Bioprocess bags have several benefits for the biotechnology sector, including reduced environmental impact, flexibility, cost-effectiveness, time efficiency, and contamination control. For instance, in February 2022, according to the World Bank, a US-based international financial institution, small biotechnology firms accounted for 70% of new drug approvals in the US, generating a return of 9.3% on research and development investment as compared to a 1.9% return for pharmaceutical companies. Furthermore, in January 2022, according to the BioIndustry Association, a UK-based association for cutting-edge life sciences and biotech firms, investments into the UK biotech and life sciences industries reached their highest level ever in 2021. The overall amount of public and private financing for UK biotech and life sciences raised was $6.06 billion (£4.5 billion), which is $2.3 billion (£1.7 billion) (60%) more than in 2020. Therefore, the rapid growth of biotechnology firms is driving the bioprocess bag market.

The development of single-use technologies is a key trend gaining popularity in the bioprocess bag market. Major companies operating in the bioprocess bag market are developing single-use bags to sustain their position in the market. For instance, in October 2022, Single Use Support GmbH, an Austria-based manufacturer of single-use technologies, launched the IRIS single-use bioprocessing bag line. The new product line is single-use and can be customized according to the customer's volume, number of ports, and tubing needs. These bags can be used for cryopreservation and sustain temperatures as low as -150 °C.

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Major Key Players of the Market:

Saint-Gobain Group, Charter Medical LLC, Thermo Fisher Scientific Inc., 3M Company, Danaher Corporation, Merck KGaA, GE Healthcare, Parker Hannifin Corporation, Corning Incorporated, Avantor Inc., Lonza Group, GEA Group Aktiengesellschaft, Sartorius AG, Cellon SA, Entegris Inc., W. L. Gore & Associates Inc., West Pharmaceutical Services Inc., Eppendorf AG, Repligen Corporation, Cole-Parmer Instrument Company LLC., ESI Technologies Group, Colder Products Company, CellBios Healthcare and Lifesciences Pvt Ltd., PBS Biotech, Flexicon Liquid Filling Systems, Meissner Filtration Products Inc., MilliporeSigma

Bioprocess Bags Market 2024 Key Insights:

• The bioprocess bags market size is expected to see rapid growth in the next few years. It will grow to $5.92 billion in 2028 at a compound annual growth rate (CAGR) of 16.2%.
• Surging Expansion Of Biotechnology Firms To Drive Market Growth
• Product Innovations Transforming The Bioprocess Bag Market
• North America was the largest region in the bioprocess bags market in 2023

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