Press release
Emerging Trends to Drive Space-Based Biopharmaceuticals Market Growth at 11.3% CAGR Through 2029
Space-Based Biopharmaceuticals
Space-Based Biopharmaceuticals Market Size Growth Forecast: What to Expect by 2025?
Rapid expansion has been witnessed in the market size of space-based biopharmaceuticals in the recent past. The market, which is expected to escalate from $4.29 billion in 2024 to $4.75 billion in 2025, predicts a compound annual growth rate (CAGR) of 10.9%. The reason for this significant growth during the historical phase can be linked to the surging demand for superior biopharmaceuticals, the emergence of various private entities in the space industry, escalating financial dedication to space expeditions, evolution and efficiency of space stations and the broadening of manufacturing within the space domain.
How Will the Space-Based Biopharmaceuticals Market Size Evolve and Grow by 2029?
Over the coming years, the market size for space-based biopharmacology is anticipated to expand rapidly. By 2029, it is projected to reach a worth of $7.3 billion, marking a compound annual growth rate (CAGR) of 11.3%. This surge during the forecast period is due to several factors including the development of the commercial space industry, escalating space tourism, an aging global populace, a growing need for personalized medicine, and escalating investments in space research. Expected trends for the forecast period comprise the remote production of biologics, artificial intelligence-aided experiment planning, integration of telemedicine and space research, miniaturized analytical tools, and automated space lab platforms.
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What Drivers Are Propelling the Growth of Space-Based Biopharmaceuticals Market Forward?
The increasing requirement for innovative medical therapies is predicted to stimulate the expansion of the space-based biopharmaceuticals market. These innovative treatments include gene therapy, cell therapy, and biologics targeting diseases at a cellular or molecular level. The upsurge in advanced therapeutics demand is being fuelled by the growing incidence of intricate and chronic diseases such as cancer, genetic disorders, and autoimmune ailments. These conditions call for more personalized, direct, and efficient treatment strategies that go beyond conventional methods. Space-based biopharmaceuticals meet this demand by facilitating the advancement of more potent and novel treatments. This is enabled by the exceptional microgravity conditions, which improve drug effectiveness and speed up the production of intricate biologics. For example, in December 2023, the Advanced Therapy Treatment Centre in the UK, which specializes in providing innovative gene, cell, and tissue therapies for complicated conditions, recorded a 31% growth in advanced therapies investment from 2021 to 2022. Thus, the surging demand for advanced therapeutics is anticipated to boost the growth of the space-based biopharmaceuticals market.
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Which Fast-Growing Trends Are Poised to Disrupt the Space-Based Biopharmaceuticals Market?
Leading enterprises involved in the space-based biopharmaceutical sector are supplying outstanding biopharma and manufacturing amenities for the LIFE pathfinder module. These state-of-the-art facilities constitute innovative, technologically sophisticated environments fitted with the latest tech and procedures for the investigation, evolution, and large-scale production of biopharmaceuticals, adhering to rigorous supervision and quality norms. In the month of August 2023, Sierra Space, a commercial space firm from the US, declared a strategic alliance with Redwire Corporation, a company providing space-based infrastructure. The focal point of the alliance lies in formulating commercial pharmaceutical and biotech R&D and manufacturing abilities in low-Earth orbit (LEO). The collaboration also endeavours to supply advanced biopharma and manufacturing facilities for the LIFE Pathfinder module, based on years of successful microgravity studies. Redwire contributes advanced biotechnology and manufacturing techniques for integration into Sierra Space's large integrated flexible environment (LIFE) habitat platform. These technologies encompass apparatus for large molecule crystallization, industrial crystal manufacturing, and gradient-temperature ovens, with the intention to enable pharmaceutical drug progress and human health investigation in microgravity conditions.
What Are the Key Segments in the Space-Based Biopharmaceuticals Market?
The space-based biopharmaceuticals market covered in this report is segmented -
1) By Product Type: Vaccines, Therapeutics, Diagnostics, Other Product Types
2) By Application: Cancer Treatment, Infectious Diseases, Genetic Disorders, Other Applications
3) By End-User: Pharmaceutical Companies, Research Institutes, Healthcare Providers, Other End Users
Subsegments:
1) By Vaccines: Infectious Disease Vaccines, Cancer Vaccines, RNA-Based Vaccines, Therapeutic Vaccines, Preventive Vaccines
2) By Therapeutics: Monoclonal Antibodies, Gene Therapies, Cell Therapies, Protein-Based Therapies, Peptide-Based Therapies
3) By Diagnostics: Molecular Diagnostics, Immunoassays, Point-of-Care Diagnostics, Biomarker Discovery, In Vitro Diagnostics
4) By Other Product Types: Regenerative Medicines, Biologics, Tissue Engineering Products, Bio-Chemical Reagents, Laboratory Consumables for Space Research
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Who Are the Key Players Shaping the Space-Based Biopharmaceuticals Market's Competitive Landscape?
Major companies operating in the space-based biopharmaceuticals market are Merck & Co. Inc., Bristol-Myers Squibb Company, Sierra Space Corporation, Rocket Lab USA Inc., Redwire Corporation, Axiom Space Inc., Varda Space Industries Inc., Nanoracks LLC, ResearchSat Pty Ltd., Techshot Inc., Space Tango Inc., nScrypt Inc., SpacePharma SA, Space Forge Ltd., LambdaVision Inc., Kibo Biotech Platform, ISS National Lab, BioServe Space Technologies, Space LiinTech, BioOrbit
What Geographic Markets Are Powering Growth in the Space-Based Biopharmaceuticals Market?
North America was the largest region in the space-based biopharmaceuticals market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the space-based biopharmaceuticals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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