Market Scenario
The bioprocess technology market size is expected to reach
USD 17,300 Million by 2030 at 7.1% CAGR during the forecast period 2022-2030. Bioprocess
technology is a specific process in which complete living cells or their
components (e.g. enzymes, bacteria, chloroplasts) are use to obtain desired
products. It deals with development and designing of equipment and processes
for the manufacturing of products such as pharmaceuticals, chemicals,
nutraceuticals, agriculture, papers and polymers from biological materials for
treatment of waste water. Increase in the demand of fermenters using for large
scaler manufacturing and producing large amount of end products has great
demand of bioprocess technology. New fermentation technology, microorganism and
enzymes gives different taste and texture to the food prolonging their shelf
life and more palatable and digestible has increased the demand for
bioprocessing market. In agriculture field bioprocessing is in greater demand
it provides scientists new ways to develop more nutritious crop varieties,
higher yield, disease resistance crops which results in reduce the need of
fertilizers and other expensive agriculture chemicals.
The increase in the demand for stem cell conservation and
regenerative medicine, Bio medical engineering, Cancer therapy, Biotechnology
in textile industry are major driving factors for bio process technology. According
to Charloote Lozier Institute in 2014 nearly 20,000 adult stem cell transplants
were performed in United States. Also for the patient suffering for multiple
myeloma more than 30,000 bone marrow and umbilical cord transplantation were
done from 2010 to 2014 which can promote to grow in forecasted year which will
result in enhancing the bioprocessing technology market. According to India
brand equity foundation organization (IBEF) Department of Industrial Policies
and Promotion (DIPP), has stated that Indian food processing sector has reached
around US$ 7.56 billion worth to Foreign Direct Investment (FDI) during the
period of April 2000 to March 2017. Confederation of Indian Industry (CII)
estimates that the food processing sector can reach US$ 33 billion of
investment in come 10 years. National Institute of Biomedical Imaging and
Bioengineering published that tissue engineering (Artificial skin and
cartilage) and regenerative medicine, is a field which focuses on cures instead
of treatment for complex or chronic diseases has a greater demand. Scaffold for
regenerating new kidney, engineering mature bone stem cell use to treat genetic
diseases. Additionally, innovation in product offering are likely to boost the
bioprocess technology equipment. However, cost incurred in is technology, cost
for new product development, societal concerns lower the growth of bioprocess
technology market.
Bio-process Market-Competitive Landscape
The global bio
process technology market insights is characterized by the presence of
several well-established and small players, the market appears to be highly
competitive and fragmented. Multinational players are increasingly expanding
their regional footprint in the developing economy, making it difficult for
regional vendors to compete with them, especially in terms of features such as
product differentiation, diverse product portfolios, and quality. The well-established
market players are engaged in strategic acquisitions, collaborations,
partnerships, global expansion, and product launches to gain competitive
advantage in this market and to maintain their market position. Global bio
process technology market players are Merck Millipore (Germany), Thermo
Fisher Scientific, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Danaher
Corporation (U.S.), Lonza Group AG (Switzerland), Sartorius Stedim Biotech S.A
(France), Corning, Inc. (U.S.), GE healthcare(US), Catalent (US), Boehringer
Inelheim (Germany), Bio-Rad Laboratories (U.S.), and Charles River Laboratories
(U.S.), Serum Institute of India are some Prominent players in the market.
Regional Analysis
The American region is expected to be the leading region in
the global digestible sensors market owing to presence of advanced technology
and well-developed healthcare sector. On regional basis, American region is
divided into North America and South America. North America dominates the
market due to presence of developed countries like the US and high disposable
income. Americas
held the largest share of the medical bioprocess technology market. According,
to NCBI U.S lead in process validation and Food and Drug Administration (FDA)
which promotes the market in this region.
Europe is anticipated to be the second largest market for Bioprocess
technology. According to National center of Biotechnology Information (NCBI)
biotechnology product have grown approximately $100 million a year to $4
billion a year and expected to grow in coming years.
Asia-Pacific is expected to be the fastest growing market for
the Bioprocessing market during the
forecast period. According to National center of Biotechnology Information
Japan leads the market both in upstream and downstream processing.
Furthermore, the Middle East and Africa region holds the
lowest market share. The market in the Middle.
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