Bioprocess Technology Market Predicted Double-Digit Growth Rate by 2024
Sarasota, FL -- (SBWIRE) -- 08/02/2017 -- Global Bioprocess Technology Market: Overview
The bioprocess technology plays a very vital role in the biotechnology industry. Desired products are procured in a bioprocess from the cells that are alive such as enzymes, bacteria, and chloroplast or their components. The bioprocess is leveraged in order to develop the industrial products, processes, and techniques that will help in fulfilling the needs of the society. There are different stages in bioprocess such as formulating substrates, raw materials, and media, conversion state, downstream processing, biocatalysts, volume production, purification and processing the finishing product.
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Global Bioprocess Technology Market: Segmentation
The bioprocess technology market is globally segmented into its type and applications. On the basis of type, the global market is segregated into cell culture, cell counting, flow cytometry, biologics safety testing, tangential flow filtration, cell expansion, cell line development, single-use bioprocessing, virus filtration, and pyrogen testing. Based on the application, the market is categorized into pharmaceutical supplements, food and agricultural products, and a making of biodegradable and environmentally friendly chemicals, antibiotics, vaccines, and enzymes.
Global Bioprocess Technology Market: Growth Factors
The most important growth factors that are driving the global market for bioprocess technology are increasing push on the research and development activities, the noteworthy expansion in the biopharmaceutical industry, growth in the field of technology, and higher demand for the vaccines. In addition, bioprocesses steal a march over the conservative chemical methods with the use of living materials for production. This is due to the fact that bioprocesses normally need lower pressure, temperature, and pH, which is ideally a measure of acidity. Other than that, they can consume less energy and use renewable resources as raw materials. Offsetting these benefits is the sheer cost of instruments required for bioprocess. The other factor countering the growth of bioprocess technology is the strict rules. The cell culture segment leads the market with a dominant share in the global market.
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Global Bioprocess Technology Market: Regional Analysis
Region-wise, the bioprocess technology market is diversified into Asia-Pacific, Europe, North America, and the Rest of the World. The region that holds the maximum market share is the North America. The major factors that have contributed to the market growth in the North American region are the sturdy demand for high-quality biologics and the significant stress that is given on the research and the expansion by prominent market players. However, Asia Pacific region is slated to develop at a good pace so as to outshine other regions in terms of growth rate. This regional market will be propelled owing to the factors such as the spreading out biopharmaceutical industry, increasing government initiatives, development in the activities of research and development, high investments made by the key market players, and the latest trend of outsourcing production to Asia Pacific countries as it far cheaper and there is availability of high skilled manpower.
Global Bioprocess Technology Market: Competitive Players
Some of the key market players that are involved in the bioprocess technology market include Abbott Laboratories, Thermo Fisher Scientific Inc., Alere, Inc., Philips Healthcare, Dickinson and Company, and Becton.
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Global Bioprocess Technology Market by Geographical Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa
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