Bioprocess Containers Market: Increasing Market Consolidation
Posted by Kriti on June 7th, 2021
Major Market Growth Drivers:
The global bioprocess containers market is expected to reach USD 1,914.6 million by 2023 from USD 913.3 million in 2017, at a CAGR of 13.2%.
Growth in the bioprocess containers market is mainly driven by factors such as the increasing demand for biologics, affordability and sustainability of single-use bioprocess technologies, vaccine production using single-use disposable technologies, and the lower risk of cross-contamination.
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Based on application, the bioprocess containers market is segmented into process development, upstream processes, and downstream processes. In 2017, the upstream process segment accounted for the largest share of the bioprocess containers market. Upstream processes make the highest use of bioprocess containers, especially during fermentation, mixing, and culture media processing; due to this, this segment holds the largest market share.
Biopharmaceutical Companies is expected to account for the largest share for Bioprocess Containers Market
Based on end user, the bioprocess containers market is segmented into biopharmaceutical companies and life science R&D companies. The biopharmaceutical companies’ segment is expected to dominate the market during the forecast period, while the life science R&D companies segment is expected to grow at the highest CAGR. Biopharmaceutical manufacturing is generally characterized using single-use technologies including bioprocess containers. Bioprocess container systems, due to their cost-effectiveness, have found wide use in biopharmaceutical manufacturing as they can lower the overall cost of production. This is the key factor driving market growth for the biopharmaceutical companies’ segment.
North America is estimated to command the largest share of the Bioprocess container Market
North America accounted for the largest share of Biocontainers Market in 2017, followed by Europe. The rising demand for biopharmaceuticals and advantages associated with the use of bioprocess bags such as their energy efficiency, decreased risk of product cross contamination, and fast implementation are driving the adoption of bioprocess containers in North America. The US accounted for the largest share of the North American bioprocess market in 2017. The growing focus on biopharmaceutical production is a major driver for this market. Government support for novel biologics production has triggered R&D activity in the country, thereby making it an attractive destination for biologics manufacturing.
Key Market Players:
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About the AuthorKriti
Joined: July 3rd, 2019
Articles Posted: 390
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