Dublin–(Business Wire)–“Bioprocessing Technology Market Analysis, By Product, By Application, By End User, and By Region – Global Forecast to 2029” Report Added ResearchAndMarkets.com’s supply.
The bioprocessing technology market size is expected to be USD 18.3115 billion in 2021 and is expected to grow at a CAGR of 15.77% during 2022-2029.
mentioned company
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Lonza Group AG (Switzerland)
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Becton
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Dickinson Company (USA)
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Thermo Fisher Scientific (we)
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Merck Millipore (Germany)
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Sartorius Stedim Biotech SA (France)
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GE Healthcare (USA)
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Corning Incorporated (us)
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Bio-Rad Laboratories (USA)
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Danaher Corporation (USA)
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Charles River Laboratory (USA)
Widespread use of bioprocessing technologies, pharmaceuticals, agriculture, and biotechnology are some of the factors contributing to the growth of the market.
In addition, increasing R&D spending in biotechnology, surging demand for vaccines, continuous technological advancements, increasing number of new drugs being produced and launched, and rising incidence of cancer and AIDS are other factors contributing to market growth. However, high prices of instruments are expected to hamper the growth.
by product
Based on product, the market is segmented into cell counting, cell culture, biological product safety testing, flow cytometry, tangential flow filtration, cell line development, and cell expansion.
Biologics safety testing accounted for the highest revenue share in 2021 owing to increasing government support for the biotechnology and pharmaceutical industry.
by application
Based on application, the market is segmented into biosimilars, recombinant proteins, antibiotics, and others. In the global market, the recombinant protein segment accounted for the largest revenue share in 2021 owing to the increasing demand for recombinant protein in pharmaceutical applications.
by end user
Based on end user, the market is segmented into contract research organizations, contract manufacturing organizations, biopharmaceutical companies, academic research institutions, and food and feed industries.
Biopharmaceutical companies will account for the largest revenue share in 2021 owing to increasing demand for improved bioprocessing technologies to develop cutting-edge drugs and vaccines.
regional market
The North America region will generate the highest revenue in the bioprocessing technology market in 2021 and is expected to maintain its dominance during the forecast period. This is attributed to the rising demand for high-quality biologics, the widespread presence of numerous domestic and foreign market players, and the increasing expenditure of these market players on research and development activities.
For more information on this report, please visit https://www.researchandmarkets.com/r/xy4zll