$18.3 Billion Worldwide Bioprocess Technology Industry to 2029 – by Product, Application, End-user and Region – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Bioprocess Technology Market Analysis, By Product, By Application, By End User, and by Region – Global Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.

The bioprocess technology market size is estimated to be USD 18,311.5 million in 2021 and is expected to witness a CAGR of 15.77% during the forecast period 2022-2029.

Companies Mentioned

• Lonza Group AG (Switzerland)
• Becton
• Dickinson and Company (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• Merck Millipore (Germany)
• Sartorius Stedim Biotech S.A (France)
• GE Healthcare (U.S.)
• Corning Inc. (U.S.)
• Bio-Rad Laboratories (U.S.)
• Danaher Corporation (U.S.)
• Charles River Laboratories (U.S.)

The widespread use of bioprocess technology, pharmaceuticals, agriculture, and biotechnology are some of the factors contributing to the market growth.

Additionally, rising expenditures on R&D in the biotechnology sector, spike in vaccine demand, ongoing technological advancements, rising number of new drug production and launches, and rising incidence of cancer and HIV are other factors contributing the market growth. However, high price of the instruments is expected to hinder the growth.

By Product

Based on product, the market is categorized into cell counting, cell culture, biologics safety testing, flow cytometry, tangential flow filtration, cell line development, and cell expansion.

In 2021, the biologics safety testing accounted for the highest revenue share due to the growing government support for the biotechnology and pharmaceutical industries.

By Application

On the basis of application, the market is categorized into biosimilars, recombinant proteins, antibiotics, and others. In the global market, the recombinant proteins segment accounted for the largest revenue share in 2021 owing to the increase in demand for recombinant proteins in medicinal applications.

By End User

Based on end user, the market is segmented into contract research organization, contract manufacturing organization, biopharmaceutical companies, academic research institutes, and food & feed industry.

In 2021, the biopharmaceutical companies segment accounted for the largest revenue share owing to rising need for improved bioprocess technology for the creation of cutting-edge pharmaceuticals and vaccines.

Regional Markets

In 2021, North America region accounted for the highest revenue in the bioprocess technology market and is expected to maintain its dominance during the forecast period. This is attributed to the increasing demand for high-quality biologics, the widespread presence of numerous domestic and international market participants, and the rising expenditure in research and development activities by these market players.

For more information about this report visit https://www.researchandmarkets.com/r/xy4zll

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