Transparency Market Research Report Added “Single-use Bioprocessing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024” to its database.
Albany, NY -- (SBWIRE) -- 02/06/2017 -- Single-use Bioprocessing Systems Market: Snapshot
The global single-use bioprocessing systems market has witnessed impressive growth over the years. Experts in the industry have observed a noticeable shift in adoption patterns of small biotechnology startups and biopharmaceutical organizations toward single-use technologies. As the biopharmaceutical industry nears maturation, organizations are progressively focusing on finding innovative treatment solutions that are not only different from their competitors, but also have a reduced pipeline for development.
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Transparency Market Research estimates that the global single-use bioprocessing systems market will expand at a robust CAGR of 11.1% over the forecast period. Escalating at this pace, the market is projected to rise from a value of US$2.3 bn in 2015 to US$5.9 bn by 2024.
Monoclonal Antibody Production Leads with Maximum Market Share by Application
The single-use bioprocessing systems market, by application, is driven by the high demand for biologics for the treatment of cancer, autoimmune disorders, rare diseases, and infectious diseases in the past few years.
Globally, the monoclonal antibody production segment is likely to exhibit a high CAGR from 2016 to 2024, accounting for a 66.0% share by the end of the forecast period. Monoclonal antibody production is driven by the recent rise in the number of monoclonal antibodies in clinical trial stages. The segment is also fueled by recent US FDA and EU approvals for monoclonal antibodies. Both Europe and the U.S. approved approximately 10 antibody therapeutics in 2015, which has led to the segment capturing the maximum market share. The developed regions in Asia Pacific have greater vaccination needs and a higher burden of cancer and cardiovascular diseases. This fuels the monoclonal antibody production segment. The segment is poised for high growth due to best applicability of single-use bioreactors for mammalian cell culture.
Growth in APAC Single-use Bioprocessing Systems Market to be Higher than Global Average
In terms of market share, Europe and North America led the single-use bioprocessing systems market in 2015 and are projected to retain their dominance throughout the forecast period. This can be attributed to the fact that CROs and CMOs as well as niche biotechnology and multiproduct biopharmaceutical companies in this region have been early adopters of single-use bioprocessing technologies compared to their counterparts in emerging markets. The leadership in terms of revenue is likely to sustain due to cutting-edge research and development in biologics being centered in these regions. It has been postulated that the purchase of single-use bioprocessing systems will be higher in regions that lay greater emphasis on innovation and where developments in bioscience are clustered. Moreover, many leading vendors are headquartered in North America and Europe, where they have higher share of p sales. This supports the growth of the single-use bioprocessing systems market.
Asia Pacific has a booming biotechnology and biopharmaceutical industry and several pharmaceutical companies have been providing contract research services to CROs and CMOs in India and China. Furthermore, the burden of cancer and infectious diseases is greater in developing countries compared to the developed world, which implies that the disease-burdened population is at a higher need for new cancer therapies and vaccines. Single-use bioprocessing systems will aid in addressing these unmet needs. The market in Asia Pacific is set to expand at a rate higher than the global average during the forecast period.
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Key companies operating in the global single-use bioprocessing systems market include Thermo Fisher Scientific, Merck KGaA (Merck Millipore), Danaher Corporation (Pall Corporation), Sartorius AG, Eppendorf AG, GE Healthcare, PBS Biotech, Inc., Meissner Filtration Products, Finesse Solutions, Sentinel Process Solutions, and Saint-Gobain.
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