Albany, NY -- (SBWIRE) -- 09/29/2017 -- The global market of bioprocess technology is predicted to witness an impressive growth during the forecast period, 2017 – 2022. The bioprocess technology is predicted to witness significant demand among biopharmaceutical manufacturers attributed to increasing risk of cross-contamination in the products.
The report offers in-depth assessment of the global market growth, opportunities, and trends. The global bioprocess technology market is segmented on the basis of product type, modality, and end users.
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Increasing investment in research and development of bioprocessing technology is projected to contribute towards growth of the global market. Growing support by the government regarding biofuel products is further predicted to impact growth of the global market positively. Moreover, the bioprocess technology is predicted to witness significant demand in the pharmaceutical industry attributed to increasing prevalence of chronic diseases. Manufacturers prefer using disposables in order to lower the risks related to cross-contamination in products.
As demand for stainless steel facilities are predicted to witness a decline, manufacturers in the biopharmaceutical industry turn to single use technology globally. Attributed to such factors, the manufacturers operating in the biopharmaceutical industry are likely to underscore significant opportunities for growth globally.
Apart from the biopharmaceutical industry, the bioprocess technology is further predicted to witness considerable demand in the agricultural industry due to increasing need for crop protection. Manufacturers operating in the agricultural industry witness considerable demand for bioprocess technology as it increases the tolerance of herbicides in the crops. Such factors are likely to impact growth of the global market positively.
Bioprocess technology is also predicted to witness considerable demand in the petrochemical industry attributed to imposition of stringent regulations by the government regarding biofuel products. Bound to such factors, manufacturers in the petrochemical industry is predicted to witness robust demand for bioprocess technology globally. Furthermore, increasing need for streamlining the procedure of chemical production is projected to boost demand for bioprocess technology in the chemical industry. Such factors are likely to impact growth of the global bioprocess technology market during the predicted period.
Cellular culture media as compared to other products is predicted to witness significant revenue growth in the global bioprocess technology market. Bioreactors among other technologies is predicted to reflect the highest CAGR in the global market through 2022. Single use is predicted to represent significant demand among the biopharmaceutical manufacturers as compared to other modalities. Contract manufacturing organizations among other end users is predicted to contribute significantly towards the growth of the global bioprocess technology market in terms of revenue. Biopharmaceutical companies is predicted to record the highest growth during the predicted period in the global market.
Key players operating in the global market include Sartorius Aktiengesellschaft, Thermo Fisher Scientific, Inc, General Electric Company, Repligen Corporation, Corning Incorporated, Danaher Corporation, Lonza Group Ltd., and Eppendorf AG.
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