Single-use Bioprocessing Market Size, Share & Trends Analysis Report By Product (Work Equipment, Apparatus & Plants), By Workflow (Upstream, Downstream), By End-use, By Region, And Segment Forecasts, 2022 - 2030
New York, Nov. 04, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Single-use Bioprocessing Market Size, Share & Trends Analysis Report By Product, By Workflow, By End-use, By Region And Segment Forecasts, 2022 - 2030" - https://www.reportlinker.com/p05868768/?utm_source=GNW
Single-use Bioprocessing Market Growth & Trends
The global single-use bioprocessing market size is projected to reach USD 79.47 billion by 2030, registering a compound annual growth rate (CAGR) of 16.6% over the forecast period. The demand for single-use bioprocessing offerings is driven by the commercial advantages offered, including a reduction in costs and time required for bioprocessing operations. Originally used for monoclonal antibody production, single-use technologies are also gaining traction for cell and gene therapy manufacturing. As a result, broadening the scope of applications in biomanufacturing operations is likely to drive industry growth.
Furthermore, strategic initiatives from key players are expanding the industry’s growth prospects. For instance, in July 2021, Cytiva and Pall Corp. announced investment plans for capacity expansion over two years. Among other key products, more than USD 300 million were invested in single-use technologies, such as bioreactor bags for cell expansion, used to make personalized therapies and syringe filters for scientific research. Similarly, the growing adoption of single-use equipment for in-house and contract manufacturing has opened new avenues for the flow of investments in this space. The industry is witnessing significant advancements in several product portfolios, including disposable probes and sensors, stirring systems, bioreactor designs, and filtration technologies, which are expected to contribute to strong revenue growth.
The benefits offered by single-use bioprocessing systems have enabled biopharmaceutical manufacturers to offer their products faster to the market by introducing multi-product facilities, entering into partnerships, or outsourcing pipeline products for contract development and manufacturing.For instance, in January 2021, Sartorius AG partnered with RoosterBio, a leading supplier of human Mesenchymal Stem/Stromal Cells (hMSC).
This collaboration aimed at advancing cell & gene therapy manufacturing by leveraging the single-use manufacturing technologies from Sartorius AG. The COVID-19 pandemic has generated new growth opportunities for key stakeholders in the industry.
Key biopharmaceutical players can leverage the opportunity by expanding their COVID-19-related product offerings by scaling up their production facilities with the implementation of single-use bioprocessing equipment.A significant number of biopharmaceutical companies are actively involved in the development and production of COVID-19 vaccines.
These programs are majorly based on single-use technologies as these systems are flexible, cost-effective, and reduce the risk of cross-contamination. Such an ongoing and continuous increase in the adoption of bioprocessing systems due to the COVID-19 pandemic is anticipated to drive industry growth.
Single-use Bioprocessing Market Report Highlights
• The simple & peripheral elements segment held the largest share in 2021 due to the significant adoption of these products as a result of a variety of customizable options available for bioprocessing applications
• The upstream bioprocessing workflow segment accounted for the largest share in 2021. Continuous developments and betterment in technologies for upstream bioprocessing are driving the segment growth
• North America was the leading region in 2021 due to the high R&D spending and growth of the biopharmaceutical manufacturing sector in the region
• Furthermore, the presence of key players, such as Thermo Fisher Scientific, Inc. and Danaher Corp., is driving the regional market
• The biopharmaceutical manufacturers end-use segment dominated the industry in 2021 and accounted for the maximum revenue share. This was due to the high demand for biologics and heavy investments in cell & gene therapy manufacturing
Read the full report: https://www.reportlinker.com/p05868768/?utm_source=GNW
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