The latest market report published by Credence Research, Inc. “Global Continuous Bioprocessing Market: Growth, Future Prospects, and Competitive Analysis, 2017 – 2030”. The Global Continuous Bioprocessing Market generated revenue of around USD 125.6 billion in 2022 and is anticipated to grow a CAGR of over 22.50% during the forecast period from 2023 to 2030 to reach around USD 519.92 million in 2030.
The continuous bioprocessing market growth is majorly driven by the increased development of novel technologies, rising insistence on biopharmaceuticals, and increased government support for biopharmaceuticals. There has been a considerable escalation in the occurrence of chronic disorders across the world. As per the American Pharmaceutical Review, the insistence for antibody products has escalated, and with the biologic license application, antibody products account for over 65% of all biopharmaceutical products. Furthermore, as per the journal, over 80% of the products are in phase 3 of the development stage, while over 90% of products are currently in phase 1 and phase 2 of development.
The global continuous bioprocessing market is bifurcated into Product, Application, End User and Geography. Based on product, the market is segmented into filtration systems and consumables, chromatography systems and consumables, bioreactors, sterilizers, centrifuges, incubators and shakers, mixing systems, cell culture media, buffers, and reagents, and other instruments and consumables. On the basis of application, the global market is segmented into commercial, vaccines, mab production, recombinant protein production, cell and gene therapy production, and R&D. On the basis of end-user, the global market is segmented into pharmaceutical and biotechnology companies, contract development and manufacturing organizations and contract research organizations, and academic and research institutes. Based on geography, the market is categorized into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa.
In 2021, North America dominated the global continuous bioprocessing market and accounted for a major market revenue share in value. The growing adoption of single-use technologies in the bioprocessing of pharmaceutical elements has been witnessed recently. The evolution from reusable to single-use technologies by various biomanufacturers is attributed to various benefits offered by the latter. These benefits include price savings, reduced risk of product contamination, and enhanced flexibility in multi-product facilities.
One of the major challenges is the lack of standardization in continuous bioprocessing technologies. This makes it difficult for manufacturers to compare different solutions and choose the most suitable one for their needs. In addition, there is a lack of skilled personnel who are trained in operating these technologies. This shortage increases the costs of setting up and running a continuous bioprocessing facility.
There is a growing demand for qualified workers who are able to operate and maintain complex bioprocessing equipment, but there is a limited supply of workers with these skills. As a result, companies are often forced to pay high premiums for qualified labor, which can limit their profitability. Finally, the continuous bioprocessing market is also confronted with regulatory hurdles. In many jurisdictions, there are strict regulations governing the use of bioprocessing equipment and facilities. These regulations can make it difficult for companies to set up new operations, and can also add significant costs to existing operations.
Why Buy This Report-
- The report delivers a qualitative and quantitative analysis of the global continuous bioprocessing market by segments, current trends, restraints, drivers, opportunities, challenges, and market dynamics with the historical period from 2017-2021, base year- 2022, and forecast period 2023-2030.
- The report contains information related to the competitive landscape, like how the major players in the market are working at a global, regional, and country level.
- In-depth analysis of the global continuous bioprocessing market segmentation based on product, application and end user.
- The global continuous bioprocessing market report also includes analyzing the global, regional, and country levels, significant players analysis, key market trends, market growth strategies, and major application areas.
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