Albany, NY -- (SBWIRE) -- 03/16/2017 -- Global Single-use Bioprocessing Systems Market: Snapshot
The world single-use bioprocessing systems market is analyzed to experience an apparent change in adoption patterns on the part of biopharmaceutical firms and biotechnology startups. This shift is primarily steered in the direction of single-use technologies. Over the recent years, there has been an upscale growth observed in the world market, not just on account of the acceptance of single-use technologies. The biopharmaceutical sector is advancing toward maturation at a swift rate. In this regard, novel treatment solutions are being cumulatively concentrated upon by a majority of organizations. Such treatment solutions are esteemed to have a contracted pipeline for development and come across unprecedented compared to those of other competitors in the market.
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As per the profound analysis performed by the expert researchers at Transparency Market Research (TMR), the global single-use bioprocessing systems market is prognosticated to leapfrog at a decent CAGR of 11.1% between 2016 and 2024. The global market had raked in an impressive US$2.3 bn in 2015 and is expected to keep coining it while maintaining the same pace to reach US$5.9 bn by the concluding year of the forecast period.
Monoclonal Antibody Production Towers over Other Applications with Topping Share
The worldwide single-use bioprocessing systems market finds application in a variety of biotechnology segments such as patient specific cell therapies, plant cell cultivation, vaccine production, and monoclonal antibody production. Amongst these, for the forecast period, the monoclonal antibody production segment is anticipated to secure a whopping 66.0% share in the worldwide market at a significant CAGR. The success of this market is stemmed from the important support by the U.S. and Europe governments which gave the green signal in 2015 for 10 antibody therapeutics. The latest consents given by the U.S. Food and Drug Administration (FDA) and European Union (EU) for monoclonal antibodies have offered a strong boost to the monoclonal antibody production segment. Much of the demand is also attributed to the clinical trial phases accommodating a robust increase in the count of monoclonal antibodies.
Bioprocessing bags are one product which have gained immense impetus in the global single-use bioprocessing technologies market. This could be on account of their extensive usage across a gamut of applications such as transfer, storage, mixing, and filtration during the production of drug molecules, vaccines, and monoclonal antibodies. Besides different downstream and upstream functions, bioprocessing bags can be customized as per the requirements of end users.
With a swelling awareness about the advantages of single-use bioprocessing technologies, the pharmaceuticals market is envisioned to take grip of a colossal share in terms of end user.
Europe and North America Lead Global Market Shoulder to Shoulder
There has been a pilot adoption of single-use bioprocessing technologies by specialized multiproduct biopharmaceutical and biotechnology firms, not to forget contract research organizations (CROs) and contract manufacturing organizations (CMOs), in Europe and North America. As a result, both the regions had shared their dominance in the global single-use bioprocessing technologies market in 2015 and are predicted to continue with it until 2024. The clustered developments and innovations in bioscience and avant-garde biologics research and development in these geographies could raise the bar of revenue growth. Besides this, most giant vendors in the field have headquartered their companies in Europe and North America, which is undoubtedly prophesied to welcome higher shares in these regions.
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The elevated unmet need of the developing countries in Asia Pacific regarding revolutionary vaccines and therapies for cancer could offer lucrative hopes for the region in the single-use bioprocessing technologies market. The Asia Pacific market is not only poised on the back of its disease-burdened population but also the resourceful contract research services furnished to China and India by various pharmaceutical organizations.
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