Press release
Bioprocessing Technology Market Expansion Continues, with Forecast Valuation of $50.23 Billion by 2029
Bioprocessing Technology Market
What Will the Bioprocessing Technology Industry Market Size Be by 2025?
The market size of bioprocessing technology has experienced a fast-paced enlargement in the past few years. The predictions show an increase from $25.1 billion in 2024, leveling up to $29.14 billion in 2025, with a compound annual growth rate (CAGR) of 16.1%. The historical expansion can be attributed to escalated demand for biopharmaceuticals, proliferation of biotechnology and life sciences sectors, fostered investment in research and development, globalization in the biopharmaceutical industry, and emphasis on cost-effectiveness and process enhancement.
What's the Long-Term Growth Forecast for the Bioprocessing Technology Market Size Through 2029?
The market size of bioprocessing technology is projected to witness substantial growth in the following years, escalating to a value of $50.23 billion by 2029 at a Compound Annual Growth Rate (CAGR) of 14.6%. The expansion during the forecast period can be credited to factors such as the increasing capacity of biomanufacturing, the advent of advanced therapies, the rising significance of single-use bioprocessing systems, augmented adoption of continuous bioprocessing, and strategic alliances and partnerships. Anticipated trends during this projection period consist of personalized medicine and precision bioprocessing, regulatory compliance and quality assurance, global biopharmaceutical production growth, environmental sustainability, and collaborations and partnerships.
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What Are the Key Growth Drivers Fueling the Bioprocessing Technology Market Expansion?
The escalating prevalence of chronic diseases is anticipated to drive the expansion of the bioprocessing technology market. Chronic diseases are long-lasting health issues that persist for at least a year and hinder daily activities, necessitate ongoing medical attention, or both. Bioprocessing technologies contribute to the development of therapeutic proteins, polysaccharides, vaccines, and diagnostic essentials that are required for the management of chronic diseases. Thus, the growing occurrence of chronic diseases will bolster the bioprocessing technology market in the future. As an illustration, the World Health Organization, a Switzerland-based United Nations agency, projected in February 2024 that there will be over 35 million new cancer cases by 2050, indicating a 77% increase from the approximated 20 million cases in 2022. Consequently, the rising prevalence of chronic diseases will stimulate the expansion of the bioprocessing technology market.
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Which Fast-Growing Trends Are Poised to Disrupt the Bioprocessing Technology Market?
The bioprocessing technology market is witnessing a notable trend in the form of advancements in bioprocessing technology, which is becoming increasingly popular. Multinational firms in the bioprocess technology market are zeroing in on the enhancement of bioprocess technologies to maintain their market presence. For instance, in October 2022, Univercells Technologies Inc., a biotechnology company based in Belgium, introduced the new scale-x technology, specifically the scale-X cell collect module. This groundbreaking solution aims to simplify the inoculation stage in large-scale bioreactors through the integration of automation and intensification. The scale-X is specifically intended to reduce aseptic risks and guarantees high repeatability, while also decreasing costs, operational time, and footprint.
How Is the Bioprocessing Technology Market Segmented?
The bioprocessing technology market covered in this report is segmented -
1) By Product: Biologics Safety Testing, Cell Culture, Cell Expansion, Cell Line Development, Flow Cytometry, Tangential Flow Filtration
2) By Application: Antibiotics, Biosimilars, Recombinant Proteins, Other Applications
3) By End Use: Biopharmaceutical Companies, Contract Manufacturing Organization, Academic Research Institutes, Food and Feed Industry, Contract Research Organization
Subsegments:
1) By Biologics Safety Testing: Endotoxin Testing, Sterility Testing, Viral Safety Testing
2) By Cell Culture: Mammalian Cell Culture, Microbial Cell Culture, Insect Cell Culture
3) By Cell Expansion: Manual Cell Expansion, Automated Cell Expansion
4) By Cell Line Development: Hybridoma Technology, Recombinant Cell Line Development
5) By Flow Cytometry: Cell Sorting, Cell Analysis
6) By Tangential Flow Filtration: Microfiltration, Ultrafiltration
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Which Companies Are Leading the Charge in Bioprocessing Technology Market Innovation?
Major companies operating in the bioprocessing technology market report are Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Danaher Corporation, Lonza Group AG, GE Healthcare, Waters Corporation, STADA Arzneimittel AG, Bio-Rad Laboratories Inc., Applikon Biotechnology B.V., Agilent Technologies Inc., Solida Biotech GmbH, Fujifilm Healthcare Corporation, Catalent Inc., Asahi Kasei Medical Inc., Amgen Inc., Eppendorf AG, Repligen Corporation, Becton dic*kinson and Company, MilliporeSigma, Novasep, Boehringer Ingelheim GmbH, Cytiva AB, Wuxi Biologics, AGC Biologics, Samsung Biologics, AbbVie Inc., Bristol Myers Squibb Company, Pfizer Inc., Roche Holding AG
Which Regions Are Leading the Global Bioprocessing Technology Market in Revenue?
North America was the largest region in the bioprocessing technology market in 2024. The regions covered in the bioprocessing technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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