Bio process Technology Market is expected to increase USD 17300 million by the end of 2030

Pune, India, February 2023 /MRFR Press Release/- Market research future has a half cooked research report on global bio-process technology market. The global bio-process technology market is growing rapidly and expected to continue its growth by the end of 2030.

Market Highlights

The bioprocess technology market size is projected to reach USD 17,300 Million at 7.1% CAGR during the forecast period 2022-2030. The global bio-process technology market has been witnessing rapid growth since many years and expected to show the similar growth in coming years.

The major factors responsible for this are; increasing awareness of bio-banks, and growth in production of vaccines. In addition to this, wide acceptance of bio-process technology by pharmaceutical companies, industrial chemical manufacturers, hospitals, and research institutes are further boosting the growth of bio-process technology market globally. Bioprocessing techniques are also used in bio-banking that is for preserving cell culture and to increase its shelf life under extremely low temperature known as cryopreservation.

There were more than 10 bio-process technologies being developed or are commercially available in the market in the form of kits or whole apparatus required, developed by more than 20 small and large companies. The major techniques includes cell expansion, cell line development, flow cytometry, cell counting, cell culture, virus infiltration, single use bioprocessing, biologics safety testing, tangential flow filteration and progen testing. Cell culture, cell expansion and flow cytometry are the most expensive process of bio-processing techniques and involved large bioreactors and heavy containers and also, are widely used technique worldwide for fermentation or vaccine production. These methods are very critical and involved high protection and control to minimize the high risk of contamination of cells or bacteria and takes place in highly controlled and sterilized and computerized environment.  There are more than 40 medicines or vaccines being developed recently using these bioprocess technologies.

The global bio-process technology market has been valued at 29 billion in 2015 and is expected to increase to 71 billion by the end of forecasted period.

Explore In-depth Details: Bio-process technology market research report

North America with the largest market share of 70% in 2015 of the global bio-process technology market due to high prevalence rate of various chronic diseases, and easy availability of all fundamental infrastructure and vaccine due to widespread healthcare infrastructure and government encouragement to medical innovation and is expected to grow further during the forecasted period. In 2016, US accounts for the maximum number of chronic disease treatment and operations such as cancer, hence large funds were been spend by the pharmaceutical companies in R&D of developing fast and effective vaccine and treatment to develop the prevention for such diseases leading to the increase use of bio-process technologies. Asia Pacific is expected to be the fastest growing market and is expected to continue to grow at the same rate during the forecasted period

Global bio-process technology market Players:

The the major key players of this market are: Merck Millipore (Germany), Thermo Fisher Scientific, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Danaher Corporation (U.S.), Lonza Group AG (Switzerland), Sartorius Stedim Biotech S.A (France), Corning, Inc.(U.S.), Bio-Rad Laboratories (U.S.), and Charles River Laboratories (U.S.), and others.

Segmentation:             

The global bio-process technology market is majorly segmented on the basis of type, application and end users. Based on the type, the market is segmented into cell culture, cell expansion, flow cytometry, cell line development and virus infiltration. Further on the basis of application the market is classified into biopharmaceuticals, specialty products and industrial chemicals and environment management aid. Similarly, on the basis of end users the market is again classified into hospitals, research labs and centers, medical institutions and others. Cell culture and flow cytometry are the most used process worldwide and contributes the largest market share together of the total bio-process technology.