The bioprocess bags market is likely to reflect a very impressive growth rate of 9% CAGR between the forecast period ranging from 2020 to 2030. The covid-19 outbreak is expected to provide key short-term growth opportunities to players in the bioprocess bags industry.
Dubai, United Arab Emirates -- (SBWIRE) -- 11/20/2020 -- The bioprocess bags market is likely to reflect a very impressive growth rate of 9% CAGR between the forecast period ranging from 2020 to 2030. The covid-19 outbreak is expected to provide key short-term growth opportunities to players in the bioprocess bags industry. Significant investments into the biotechnology and pharmaceutical sectors during the crisis has generated a positive environment for the adoption of bioprocess bags.
"Strong and sustained growth in the pharmaceutical sector, coupled with financial support from government research and development agencies on bio-based products are key factors driving the market of bioprocess bags," says the Fact.MR report.
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Bioprocess Bags Market - Takeaways
Reusable bioprocess bags are expected to reflect strong growth on the back of cost benefits, especially with higher adoption in academic and research purposes.
Biopharmaceutical applications accounts for significant market share owing to high popularity of disposables among contract service providers in the industry.
North America is a major market for bioprocess bags owing to the numerous and large-scale biopharmaceutical production facilities, especially in the United States.
Bioprocess Bags Market - Drivers
The use of bioprocess bags for media preparation and shipping of biologic materials is a key driver for market growth.
Tech advancements including automation and machine learning in bioprocessing are creating a favorable environment for market players.
Bioprocess Bags Market - Constraints
Lack of adequately skilled professionals to work with bioprocess bags is a major challenge, hindering adoption rates.
Lack of awareness about the application of bioprocess bags, especially in developing countries is an obstacle to market growth.
Anticipated Market Impact by Coronavirus Outbreak
The coronavirus pandemic has affected the bioprocess bags market moderately. On one hand the industry has gained from increasing investments into the pharmaceutical and biotech industries. Also, autoclave, sterile, and heat resistant characteristics of bioprocess bags are estimated to create opportunities in hospitals and research facilities.
On the other hand, suspension of manufacturing activities has limited production and supplies. Also, uncertainty over the duration and severity of the lockdown has restricted consumer spending, which makes short term prospects of recovery a concern in the market.
Explore the global Bioprocess bags market with 129 figures, 68 data tables, along with the table of contents of the report. You can also find detailed segmentation on @ https://www.factmr.com/report/3926/bioprocess-bags-market
Major manufacturers in the bioprocess bags market include but are not limited to Danaher Corporation, Saint Gobain, Merck, Sartorius AG, Thermo Fisher Scientific, Corning Incorporated, and Entegris Inc. among others.
Prominent manufacturers in the bioprocess bags market are largely seeking to expand production capabilities with strategic mergers and acquisitions gaining importance among market players for long term consolidation.
For example, Meissner has announced the start of production in its single use bio process production facility in Ireland, including bioprocess bags for the biopharma industry. Cytiva, a Danaher Corp subsidiary has announced a plan of investing US$ 500 million to keep up with demand for bioprocess equipment including bags. Further, Astra Zeneca has partnered with Samsung Biologics for large scale drug material production and bioprocess equipment.
More on the Report
FACT.MR's market research report provides insights on the bioprocess bags market. The market is segregated by type (2D and 3D), capacity (small, medium, large, and extra-large), end use industry (biotechnology and pharmaceuticals), and application (buffer & media storage, cell culture, cell separation & harvest, chromatography feed & collection, ultrafiltration & diafiltration, Intermediate & final product hold) across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East and Africa).
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