Press release
Single-use Bioprocessing Systems Market: Demand for Customized Single-use Products on the Rise
Transparency Market Research notes that the threat of new entrants in the single-use bioprocessing systems market is moderate owing to the fact that existing players possess brand identity and have unique proprietary product offerings. Nevertheless, the degree of competition is expected to remain moderate to high in the market over the course of the forecast period.
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Transparency Market Research estimates that the global single-use bioprocessing systems market will rise from a value of US$2.3 bn in 2015 to US$5.9 bn by 2024, expanding at a robust CAGR of 11.1% over the forecast period.
Robust Growth of Bioprocessing Bags Segment Attributed to Frequent and Recurring Purchases
Bioprocessing bags are projected to account for a 27.0% share by 2024, emerging as the leading product segment of the global single-use bioprocessing systems market. The robust growth of the bioprocessing bags segment can be attributed to frequent and recurring purchases for several upstream and downstream functions such as mixing, filtration, storage, transport, and media preparation and fermentation. The segment is also projected to expand at a strong CAGR of 14.8% from 2016 to 2024.
Accounting for the major share in the overall single-use bioprocessing systems market, the monoclonal antibody production segment is projected to continue its lead throughout the forecast period, exhibiting a growth rate higher than the other segments. By end use, the pharmaceutical segment is projected to dominate the market for single-use bioprocessing systems. However, the CRO and CMO segment is expected to gain much traction in the coming years, registering a high CAGR from 2016 to 2024.
Geographically, Europe was the leading market in 2015, accounting for a share of 29%. The region is likely to lose market share by 2024 but will continue its dominance throughout the forecast period. Registering a CAGR of 12.3%, Asia Pacific is projected to emerge as one of the fastest growing regions in the global single-use bioprocessing systems market.
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Demand for Customized Single-use Products on the Rise
When it comes to single-use products, it is of utmost importance to customers that the use product in question be customized as per their requirements. “Single-use bags, bioreactors, and bioprocess containers are all amenable to customer-specific customization requests depending upon the application,” the TMR analyst states. This lends flexibility to the consumer, which is not always possible with capital equipment such as stainless steel bioprocess containers. This acts as a major growth driver.
Other factors driving the single-use bioprocessing systems market include an overall reduction in cost, a reduction in clean-in-place (CIP) and steam-in-place (SIP) processes, minimized chances of cross-contamination, various technological advancements and innovations, and a growth in the production of monoclonal antibodies.
In contrast, various technical difficulties, environmental concerns regarding the use of disposables, and continued preference for stainless steel products over single-use technologies have been limiting the growth of the market.
This review is based on the findings of a TMR report titled “Single-use Bioprocessing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024.”
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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