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Bioprocess Technology Market is expected to reach US$ 77,090.05 million by 2028

The global Bioprocess Technology market size is projected to grow from USD 30,897.52 million in 2022 to USD 77,090.05 million by 2028.

By The Insight Partners

Consumables and Accessories Segment, by Type, to Dominate Bioprocess Technology Market During 2023–2028

According to our new research study on "Bioprocess Technology Market size and Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Modality, and End User," the bioprocess technology market size is expected to grow from US$ 30,897.52 million in 2022 and is expected to reach a value of US$ 77,090.05 million by 2028; it is anticipated to record a CAGR of 16.8% from 2023 to 2028. Key factors driving the bioprocess technology market growth are growing R&D spendings to introduce new drug compounds and increasing prevalence of chronic diseases. However, stringent regulatory policies are restricting the bioprocess technology market growth. 

The US held the largest share of the North America bioprocess technology market in 2022. North America dominated the global bioprocess technology market in 2022 and is expected to continue its dominance during the forecast period. This is attributed to increasing incidences of chronic disorders. According to the Food and Drug Administration (FDA) report, over 30 million people in the US suffer from ~7,000 rare diseases, accounting for life-threatening conditions with low treatment options. Drug, biological, and device development in the treatment of rare diseases is challenging due to a lack of understanding of the history of rare diseases and difficulty in conducting clinical trials. Therefore, the growth of bioprocess technologies such as gene and cell therapies (CGTs) and specialty pharmaceuticals represent a radical shift in the treatment of rare diseases. For example, CGTs have revealed significant health benefits than formulated drugs for treating rare diseases. In the US, more than 900 investigational new drug (IND) applications targeting gene therapy products are underway. Also, 10-20 gene therapies are approved annually by the FDA. Likewise, in August 2022, the FDA approved Bluebird Bio's "Zynteglo (betibeglogene autotemcel)." It was the most expensive single-application drug approval in the US intended for the treatment of a rare neurological disorder—cerebral adrenoleukodystrophy (CALD).

Bioprocess Technology Market, by Geography, 2022 (%)

To get free sample copy of the report, along with the TOC, Statistics, and Tables please visit @ https://www.theinsightpartners.com/brochure/TIPHE100001373 Source: The Insight Partners Analysis

The bioprocess technology market, by type is segmented into the market is fragmented into cell culture media bioprocess, chromatography bioprocess, consumables & accessories, and others. The cell culture media bioprocess segment held the largest market share in 2022 and chromatography bioprocess is anticipated to register the highest CAGR of 18.0% during the forecast period (2023–2028).

Merck KGaA, Sartorius AG, Thermo Fisher Scientific Inc, Corning Inc, STAMM Biotech, Lonza Group AG, Eppendorf SE, Repligen Corp, Danaher Corp, BioPharma Dynamics Ltd are among the key companies operating in the bioprocess technology market. The companies have been implementing various strategies that have helped in their growth and in turn have brought about various changes in the market. The companies have utilized both organic strategies (such as launches, expansion, and product approvals) and inorganic strategies (such as product launch, partnership, collaborations). 

For instance, in August 2022, amid a deluge of demand for cell culture media, Thermo Fisher Scientific has tied a ribbon on a US$76 million investment to stand up spare capacity. The company has completed an expansion at its dry powder media manufacturing plant in Grand Island, New York, creating “redundant capacity” and expanding the site’s production arsenal to include technology and materials used in the development and commercial production of new vaccines and biologic drugs.

In April 2022, Thermo Fisher Scientific opens its new single-use technology manufacturing site in Ogden, Utah. The state-of-the-art facility creates additional capacity to produce the high-quality technology and materials needed for the development of new vaccines and breakthrough therapies. The US$44 million facility is part of Thermo Fisher's US$650 million multi-year investment. The Ogden site is a 55,000-square-foot facility that will manufacture highly customizable bioprocess container (BPC) systems.

The report segments the bioprocess technology market as follows:

Based on type, the bioprocess technology market is segmented into cell culture media bioprocess, chromatography bioprocess, consumables & accessories, and others. Based on modality, the global bioprocess technology market is bifurcated into single use and multiple use. The bioprocess technology market, by end user, is segmented into academic & medical institutions, biopharmaceutical companies, research laboratories, and others. Based on geography, the bioprocess technology market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, the UK, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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