According to our new research study on "Bioprocessing Market Forecast to 2031 - Global Analysis - by product, scale of operation, process, application, end user, and geography" the market value is expected to reach US$ 72.55 billion by 2031 from US$ 25.35 billion in 2023; it is anticipated to register a CAGR of 14.0% from 2023 to 2031.
Factors such as the increasing prevalence of chronic diseases and the growing biopharmaceutical industry propel the bioprocessing market growth. However, stringent regulatory policies and limitations associated with bioprocessing impede the market's growth.
Proliferating Demand for Personalized Medicine Creates Opportunities for the Bioprocessing Market
The healthcare industry's transformation from one-size-fits-all to a targeted approach is expanding the demand for personalized medicine. Precision medicine is being considered as one of the most promising approaches to tackle health concerns such as cancer, neurodegenerative diseases, and rare genetic conditions. Innovations in the production of personalized medicines are likely to impact the entire sector, and single-use technologies aimed at smaller-volume production have potential applications in protein bioproduction, particularly in downstream processes. Personalized and differentiated approaches to medicine are leading to a need for a wider range of products-many of them for a relatively small group of patients. Therefore, a fundamentally different approach to producing and delivering biological products may be required.
Precision medicine utilizes an individual's genomic information to offer targeted treatment for a particular indication. The growing number of orphan diseases has increased the demand for biologics and drugs, subsequently boosting personalized medicines' growth. In 2019, the FDA approved ~12 personalized medications for addressing the root causes of disease and further integrated precision medicine with clinical care. Also, increasing government efforts are strengthening personalized medicine research activities. For instance, in February 2020, the National Human Genome Research Institute (NHGRI) announced to establish a new precision medicine and genomics program. This program focuses on the innovation of genomics and informatics tools for better diagnosis and treatment of disease.
Personalized medicines leverage advances in genetics and bioinformatics to target specific patient populations and treat previously untreatable diseases. Personalized medicine uses bioprocessing techniques to develop tailored therapies. From isolating specific cells to developing patient-specific treatments, bioprocessing steps are essential for producing treatments tailored to each patient. Therefore, the rising demand for personalized medicine is predicted to offer significant growth opportunities to the players operating in the bioprocessing market during the forecast period.
The "Global Bioprocessing Market" is segmented on the basis of Product, Scale Of Operation, Process, Application, End User, and Geography.
Product Overview
Based on product, the bioprocessing market is segmented into instruments, consumables, and accessories. The instruments segment held a larger market share in 2023 and is anticipated to register a higher CAGR of 14.5% during the forecast period.
Scale of Operation Overview
Based on scale of operation, the bioprocessing market is segmented into commercial operations and clinical operations. The commercial operations segment held a larger bioprocessing market share in 2023 and is anticipated to register a higher CAGR during the forecast period.
Process Overview
The bioprocessing market, based on process, is divided into downstream bioprocess and upstream bioprocess. The downstream bioprocess segment held a larger market share in 2023 and is anticipated to register a higher CAGR of 14.4% during 2023-2031. Downstream bioprocessing is the stage where the upstream bioproduct is recovered, concentrated, and purified to meet quality requirements. Downstream bioprocessing is applicable in the purification of monoclonal antibodies or proteins and manufacturing of oligonucleotides, polysaccharides, and various vaccines. The steps associated with downward bioprocessing are harvest and filtration, capture, ultrafiltration, purification, bioconjugation, and formulation.
End User Overview
Based on end user, the bioprocessing market is divided into biopharmaceutical companies, contract manufacturing organization, and others. The biopharmaceutical companies segment held the largest bioprocessing market share in 2023; the contract manufacturing organization segment is anticipated to register the highest CAGR of 14.7% during 2023-2031. The number of biopharmaceutical companies is increasing worldwide, leading to a high number of collaborations and agreements between the companies. Investments by companies in the research and development of drugs and other biosimilars have been increased. The advancement in biotechnology has improved the identification of possible targets for a drug. The rising application of bioprocessing in cancer therapeutics and the ability of biopharmaceuticals to address untreatable conditions are expected to accelerate the market growth
The global bioprocessing market is segmented by region into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America regional market is expected to grow with a CAGR of 14.2% during 2023-2031. The North America bioprocessing market is segmented into the US, Canada, and Mexico. Market growth in the region is due to the increasing incidence of rare diseases and the rising trend of cell and gene therapy (CGT). Growing incidences of genetic and cellular disorders are leading to increasing demand for cell therapies. In April 2023, Cytiva launched X-platform bioreactors to simplify upstream bioprocessing operations with single-use products. The increasing R&D investments by US-based biopharmaceutical and biotechnology companies to improve outcomes of clinical trials and ensure patient safety, and the growing traction toward precision medicine with rising investments by the US government contribute to the growth of the bioprocessing market in the US. Asia Pacific is expected to register the highest CAGR of 15.1% during 2023-2031. The Asia Pacific bioprocessing market is segmented into China, Japan, India, South Korea, Australia, and the Rest of Asia Pacific. China held the largest market share in 2023, and India is expected to show a significant growth rate in the market. The biopharmaceutical industry in China is undergoing a tremendous shift, evolving from a generics-focused landscape to a thriving innovation hub. India's bioprocessing capability is highly dependent on its qualified workforce and cost efficiencies, which creates growth opportunities for the market.
Bioprocessing Market, by Region, 2023 (%)
Source: The Insight Partners Analysis
Cytiva (Danaher Corporation), Sartorius AG, Thermo Fisher Scientific Inc., Repligen Corporation, Merck KgaA, 3M Company, Getinge AB, Eppendorf SE, Corning Incorporated, Entegris, Agilent Technologies, and Bio-Rad Laboratories are among the leading market players of bioprocessing market. These companies focus on new product launches and geographical expansions to meet the growing consumer demand worldwide and increase their product range in specialty portfolios. They have a widespread global presence, which allows them to serve a large set of customers and subsequently increase their market share.
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