Bioprocessing Technology Global Market Report 2023

Major players in the bioprocessing technology market are Thermo Fisher Scientific Inc., Sartorius AG, Merck Group, Danaher Corporation, Lonza AG, GE Healthcare (General Electric), Waters Corporation, STADA Arzneimittel AG, Bio-Rad Laboratories, Applikon Biotechnology B.

New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bioprocessing Technology Global Market Report 2023" - https://www.reportlinker.com/p06479992/?utm_source=GNW V. (Getinge), Agilent technologies, Solida Biotech GmBH, Fujifilm Healthcare, Catalent Inc., and Asahi Kasei Medical Inc.The global bioprocessing technology market is expected to grow from $18.71 billion in 2022 to $21.74 billion in 2023 at a compound annual growth rate (CAGR) of 16.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bioprocessing technology market is expected to reach $37.8 billion in 2027 at a CAGR of 14.8%.The bioprocess technology market includes revenues earned by entities through media preparation, biocatalyst optimization, mass production, downstream processing, and purification.The market value includes the value of related goods sold by the service provider or included within the service offering.The bioprocess technology market also includes sales of process columns, dispersers or emulsifiers, screens or sieves, filters, fermenters or bioreactors, and process homogenizers which are used in bioprocess technology.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Bioprocessing technology refers to the process that includes microbes, living cells, or elements of living organisms to synthesize biological products. It is commonly used to produce chemicals, food, flavor, fuel, and medications, with the aid of biocatalysts like enzymes, and microbes.North America was the largest region in the bioprocessing technology market in 2022. The regions covered in bioprocess technology report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main products of bioprocessing technology are biologics safety testing, cell culture, cell expansion, cell line development, flow cytometry, and tangential flow filtration.Biologics safety testing refers to the set of tests and procedures employed to evaluate the safety of biological products such as vaccines, blood products, gene therapies, and other biologics before the approval for human use.It is used to evaluate the purity, potency, identity, and stability of biological products. The bioprocess technology is applied in antibiotics, biosimilars, recombinant proteins, and others, that are used by biopharmaceutical companies, contract manufacturing organization, academic research institutes, food and feed industry, and contract research organization.The increased incidences of chronic diseases are expected to propel the growth of the bioprocessing technology market going forward.Chronic diseases are long-term health disorders that endure for at least a year and impair daily activities, require continuing medical care, or both.The bioprocessing technologies involves the discoveries of therapeutic proteins, polysaccharides, vaccines, and diagnostics essentials for the treatment of chronic diseases.Hence, the increased incidence of chronic diseases will support the growth of the bioprocessing technology market.For instance, in 2023, according to a report published by National Library of Medicine, a US-based medical journal, the number of people in the United States aged 50 years and older will increase by 61.11% from 137.25 million in 2020 to 221.13 million in 2050. Moreover, in the population 50 years and older, the number with at least one chronic disease is estimated to increase by 99.5% from 71.52 million in 2020 to 142.66 million by 2050. Therefore, the increased incidences of chronic diseases will drive the growth of the bioprocessing technology market.Advancement in bioprocessing technology is a key trend gaining popularity in the bioprocessing technology market.Major companies operating in the bioprocess technology market are focusing on advancement in bioprocess technologies to sustain their position in the market.For instance, in October 2022, Univercells Technologies Inc., a Belgium-based biotechnology company, launched new scale-x technology, scale-X cell collect module. This innovative solution looks to facilitate the inoculation stage for large-scale bioreactors by utilizing the concepts of automation and intensification. The scale-X is designed to lower aseptic risk and provide high repeatability while reducing expenses, operating time, and footprint.In July 2021, DiaSorin S.p.A, an Italy-based biotechnology company engaged in the development and commercialization of diagnostics reagents acquired Luminex Corporation for $1.8 billion. With this acquisition, DiaSorin will strengthen its current offering with the access of Luminex’s multiplexing technology, which will increase the Group’s footprint in the United States. Luminex Corporation is a US-based biotechnology company engaged in the manufacturing of biological testing technologies.The countries covered in the bioprocess technology market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The bioprocessing technology software market research report is one of a series of new reports that provides bioprocessing technology software market statistics, including bioprocessing technology software industry global market size, regional shares, competitors with a bioprocessing technology software market share, detailed bioprocessing technology software market segments, market trends and opportunities, and any further data you may need to thrive in the bioprocessing technology software industry. This bioprocessing technology software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479992/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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