This report on the global single-use bioprocessing systems market analyzes the current and future prospects of the market. The report comprises an elaborate executive summary, including a market snapshot that provides overall information of various segments and sub-segments. The research is a combination of primary and secondary research. Detailed qualitative analysis of factors responsible for driving and restraining market growth and opportunities has been provided in the market overview section.
Albany, NY -- (SBWIRE) -- 04/17/2017 -- Market Research Reports Search Engine (MRRSE) has recently announced the addition of a new report to its ever-expanding online repository of market intelligence studies. The report examines the performance of the Global Single-use Bioprocessing Systems Market and presents dependable forecasts for companies looking to establish a strong foothold in the global market. The report is titled as "Global Single-use Bioprocessing Systems Market - Industry Analysis, Share, Size, Growth, Trends, and Forecast 2016 – 2024".Bioprocessing systems constitute an important part of biopharmaceutical development and production and in recent times, single-use bioprocessing systems are increasingly finding acceptance in the biotherapeutics and biopharmaceutical industry. The shift is evident in the use of hybrid bioprocessing setup that involves single-use technologies in place of fixed processes that exclusively used stainless steel equipment. This is because biopharmaceutical product manufacturers are focused on finding innovative solutions that not only provides a competitive advantage but also have a reduced pipeline for development.
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At present, the development of single-use biologics manufacturing units is on the rise due to several factors. First and foremost, single-use plants offer flexibility and cost-effectiveness for the production of clinical trial drugs and for the manufacture of commercial drugs. Thus, these units are the preference of new facilities such as contract research organizations (CROs), contract manufacture organizations (CMOs), and small biotechnology startups for the manufacture of biologics.
The global single-use bioprocessing systems market is expected to rise at a robust 11.1% CAGR from 2014 to 2024 for the market's valuation to increase from US$2.3 bn in 2015 to US$5.9 bn by 2024.
Monoclonal Antibody Production Dominates Application Segment of Market
In terms of application, the market for single-use bioprocessing is driven by the high demand for biologics for the treatment of autoimmune disorders, rare infectious diseases, cancer, and infectious diseases over the past few years. Amongst the application segments of the market, monoclonal antibody production is expected to register a high CAGR and account for 66.0% of the market by the end of 2024. The recent approval for monoclonal antibody production by FDA and EU is also fuelling the growth of this application segment. In 2015, Europe and the U.S. jointly approved 10 antibody therapeutics, which has translated into dominance of this application segment. The monoclonal antibody production segment is expected to display substantial growth due to the excellence of single-use bioreactors for mammalian cell culture.
Asia Pacific to Display Higher Growth Rate than Global Average in Future
North America and Europe accounted for the largest share of the single-use bioprocessing systems market in 2015. This is because CMOs and CROs, as well as niche biopharmaceutical companies in these regions, adopted single-use bioprocessing technologies earlier than their counterparts in emerging markets. These regions are expected to lead in terms of revenue din the coming years due to the focus on cutting-edge research and development in biologics in these regions. Moreover, the presence of several leading vendors in these regions benefits them in terms of high revenue shares.
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Asia Pacific has a cutting-edge biotechnology and biopharmaceutical industry and a large number of pharmaceutical companies worldwide are outsourcing contract research and manufacturing services to CMOs and CROs in China and India. Furthermore, the rising prevalence of cancer and other infectious diseases in the developing countries of the region has necessitated the development of new vaccines and therapies for these diseases. The Asia Pacific single-use bioprocessing system market is expected to expand at a higher growth rate than the average growth rate globally in the coming years.
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