Single-use Bioprocessing Sensors and Probes Market to Expand at a Robust 13.4% CAGR between 2017 and 2025

As per a report by Transparency Market Research, the global single-use bioprocessing sensors and probes market will likely expand at a robust 13.4% CAGR between 2017 and 2025. Rising at this rate, the market which was worth US$418.3 mn in 2016, will grow to US$1281 mn by 2025. At the forefront of driving growth in the global single-use bioprocessing sensors market is the heightened thrust on improved, easier monitoring of bioprocess and the growing industrial demand for bioprocessing. “Globally, there is an increase in the growth of bioprocessing in the biotechnology and pharmaceutical sector. Global demand for biopharmaceuticals such as antibodies and vaccines to treat cancer, arthritis, and diabetes is increasing rapidly, driven by the increasing global aging population, rising obesity level, and the world wide effort to decrease the incidence of diseases preventable by vaccination. Hence, growth in industrial bioprocessing is anticipated to drive the single-use bioprocessing sensors and probes market in the next few years” explains the lead analyst of the TMR report.

Browse Report Details@ https://www.transparencymarketresearch.com/single-use-bioprocessing-sensors-probes-market.html

From a geographical perspective, North America held a leading share of 40.2% share in 2016 in the global single-use bioprocessing sensors and probes market. The market in the region is powered primarily by the U.S. which has made gigantic progress on account of the swift uptake of latest technologies, presence of a well-established bioprocessing and pharmaceutical industry, early availability of newest technologies, and heightened research activities. Going forward, North America is expected to grow its share further in the market. Europe trails North America in the global single-use bioprocessing sensors and probes market. In the upcoming years, the region is predicted to lose its market share to become worth US$330.8 mn by 2025. In terms of growth rate, Asia Pacific is anticipated to outshine all other regions by registering a CAGR of 13.8% between 2017 and 2025. The region is primarily powered by China, India, and Japan. Adoption of upcoming technologies and expansion of the biotechnology sector is said to be underpinning robust growth in the region.

Some of the key companies operating in the global single-use bioprocessing sensors and probes market are Thermo Fisher Scientific Inc., Sartorius AG, Parket Hannifin Corporation, and Hamilton Company. A popular strategy employed by them to grow their shares in the market is widening the product base through carefully-considered alliances and acquisitions. Thermo Fisher, for example, acquired Finesse Solutions to foray into single use bioprocessing instruments and devices market. The global single-use bioprocessing sensors and probes market has regional companies and just a couple of global players. While this serves to up competition in the market, the different kinds of products offered by various companies lowers the degree of competition. As a result, competition in the global single-use bioprocessing sensors and probes market will remain moderate.

Report Overview, with TOC - https://www.transparencymarketresearch.com/report-toc/27011

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