Bioprocess Analyzers Market to Expand at an Outstanding CAGR of 5% from 2019 to 2027
The global bioprocess analyzers market was valued at US$ 250 Mn in 2018 and is projected to expand at a CAGR of 10% from 2019 to 2027. Growth of the biopharmaceutical industry, flexibility in terms of customization, technological advancements, and increase in demand for vaccines are anticipated to boost the growth of the global bioprocess analyzers market from 2019 to 2027.
North America is expected to dominate the global bioprocess analyzers market in the next few years. Single use technologies have expanded at a higher rate, as an alternative to permanent reusable stainless steel fermenters.
Asia Pacific bioprocess analyzers market is estimated to propel by the maximum growth rate during the forecast period, owing to the developing biotechnology industry and technological advancement.
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What are the Key Market Dynamics in the Global Bioprocess Analyzers Market?
Single use technologies provide technological advancements and cost-effective technologies owing to increase in capacities and capabilities. Disposable systems are usually preferred in early stage development; however, stainless steel bioreactors are widely utilized for full-scale production in the global bioprocess analyzers market
Major companies enter into distribution agreements to expand their footprint across the world. Technological advancements and mergers & acquisitions are likely to propel the global bioprocess analyzers market during the forecast period.
Opportunities for manufacturers targeting large production volumes. A majority of stainless steel facilities are now being constructed in developing countries to cater to large volume demand in the global bioprocess analyzers market. Stainless steel facilities, although being phased out steadily due to surge in popularity of single-use technology, will remain an opportunity area for the global bioprocess analyzers market.
Consumables and Accessories Segment to Capture Largest Share
New product development and increase in efficiency of different media used for cell culture production are anticipated to boost the consumables & accessories segment in the global bioprocess analyzers market next few years.
What are the Key Challenges Witnessed by the Global Bioprocess Analyzers Market?
Demand for personalized medicine, (stratified medicine), is increasing at a rapid pace- the trend toward stratified therapeutics will also call for changes in bioprocessing equipment design especially used in small scale production units. This might be a challenge for the global bioprocess analyzers market in the upcoming period.
Bioprocessing equipment developed for continuous biopharmaceutical manufacturing are relatively small-sized; however, integrating upstream and downstream bioprocessing can be a challenge for the global bioprocess analyzers market.
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Biopharmaceutical Companies Segment to Account for Largest Share
Increase in demand for therapeutic proteins produced through mammalian expression systems is likely to drive the biopharmaceutical companies segment in the global bioprocess analyzers market during the forecast period owing to rise in usage of bioprocess instruments by biotechnology and pharmaceutical companies to manufacture biopharmaceutical products such as biologics, drugs, and regenerative medicines.
A contract manufacturing organization offers important cost benefits over an organization’s internal production facilities- which might be the factor for the growth of the contract research organizations segment in the global bioprocess analyzers market during the forecast period.
North America to Account for Largest Market Share
High competition, increase in R&D expenditure of pharmaceutical and biotechnology companies, and shift of contract research organizations toward Asia Pacific fuel the growth of the bioprocess analyzers market in Asia Pacific.
In terms of revenue, North America dominated the global bioprocess analyzers market in 2018. Higher adoption of advanced bioprocess products in R&D in the life sciences industry propels the bioprocess analyzers market in North America.
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