High Throughput Process Development Market: Industry Analysis And Detailed Profiles Of Top Industry Players
According to the report’s estimations, the worldwide market for high throughput process development will reach a value of US$10.5 bn by 2017. The opportunity in this market will further witness a high rise at a CAGR of 11.60% during the period from 2017 to 2022 and tough a value of US$18.3 bn by the end of the period of the forecast. Consumables and reagents are enjoying a greater demand than other products and services in the global high throughput process development market at present and the scenario is likely to remain same in the years to come.
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The global market is currently led by North America and researchers expect it to continue doing so over the forthcoming years, thanks to the augmenting demand for lessening timelines of product development, rising requirement for enhancements in the production quality of biological materials and the presence of a large pool of established players in this region, states the market report.
Increasing Awareness about Benefits of High Throughput Process Development Solutions to Boost Growth
“The global market for high throughput process development is predominantly driven by the significant rise in the pressure over manufacturers to reduce the production cost and the tremendous surge in the biopharmaceutical industry,” says a TMR analyst. The market also gains from the bolstering expenditure on research and development activities and the continual advancements in technologies that are employed in process development.
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Over the coming years, the rising awareness regarding the benefits of high throughout tools in carrying out parallel screening of chromatography issues and media and saving a lot of time for process developers in the meanwhile is expected to boost this market remarkably. The upswing in the application of high throughput process development solutions in membrane chromatography will also drive the growth of this market significantly in the near future, reports the study.
Lack of Adequate Infrastructure Facilities to Hamper Global High Throughput Process Development Market
While the future of the worldwide market for high throughput process development looks bright, it may face severe challenge from the lack of adequate infrastructure facilities and the exorbitant cost of technology and equipment over the next few years. However, the leading vendors of high throughput process development solutions across the world are expected to gain remarkable impetus in their businesses in the near future, owing to the increase in the demand for monoclonal antibodies across the world, which is likely to propel this market over the forthcoming years, states the research report.
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The review is based on a report by Transparency Market Research (TMR), titled “High Throughput Process Development Market (Product and Service - Instruments, Software and Services, Consumables and Reagents; End User - Biopharmaceutical Manufacturers and Contract Manufacturers; Molecule Type - Monoclonal Antibodies, Vaccines, Recombinant Insulin, and Human Growth Hormones; Process Type - Downstream Processing and Upstream Processing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022.”
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