The latest market report published by Credence Research, Inc. “Global Biopharmaceutical Processing Equipment and Consumables Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2030”. The Global Biopharmaceutical Processing Equipment and Consumables Market generated revenue of around USD 8.9 billion in 2022 and is anticipated to grow a CAGR of over 6.5% during the forecast period from 2023 to 2030 to reach around USD 13.0 billion in 2030.
Increasing technological advancements, rising R&D activities, and investments for launching novel products in the market are key drivers of the biopharmaceutical processing equipment and consumables market. Moreover, the rising prevalence of various diseases and raising funds for R&D activities for manufacturing various drugs and vaccines are fueling the demand for equipment for testing and manufacturing these products. Furthermore, growing investments from the public and private sectors are also aiding market growth.
The global biopharmaceutical processing equipment and consumables market is bifurcated into Product Type, End Use, and Geography. Based on product type, the market is categorized into Filtration Systems, Chromatography Equipment and Consumables, Bioreactors, Cell Culture Products, Mixing Systems, Bioprocessing Containers, Sterilizers, Centrifuges, Incubators, Shakers, Biosafety Cabinets, Other Equipment and Consumables, and Service. On the basis of end use, the global market is segmented into pharmaceutical and biopharmaceutical companies, contract development and manufacturing organizations (CDMOs), and Academia and research institutes. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global biopharmaceutical processing equipment and consumables market and accounted for major market revenue. This is majorly due to the increasing demand for testing and manufacturing various pharmaceutical products coupled with the growing demand for biosimilars. Moreover, rising R&D activities for developing biosimilars and the rising prevalence of various diseases are boosting the market demand for biopharmaceutical processing equipment and consumables.
This is due to the fact that biopharmaceuticals offer a number of advantages over traditional pharmaceuticals, including higher efficacy and safety. Another driver of the Biopharmaceutical Processing Equipment and Consumables Market is the increasing investment in research and development of new biopharmaceutical products. This is being driven by the growing awareness of the potential of biopharmaceuticals and the need to develop new treatments for a range of diseases.
The biopharmaceutical processing equipment and consumables market is driven by several factors. First, the increasing demand for biopharmaceuticals globally is driving the need for more efficient and effective processing equipment and consumables.
Why to Buy This Report-
- The report provides a qualitative and quantitative analysis of the global biopharmaceutical processing equipment and consumables market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level.
- In-depth analysis of the global biopharmaceutical processing equipment and consumables market segmentation based on product type and end-use..
- The global biopharmaceutical processing equipment and consumables market report also includes analysing of the global, regional, and country level, along with key market trends, significant players analysis, market growth strategies, and key application areas.