Bioprocessing Analytics Equipment Market projected to grow US$ 633.6 Million by 2028
Bioprocessing Analytics Equipment Market In 2022, market revenue is expected to reach US$ 485.1 million. The global market is estimated to reach $633.6 billion by 2028, growing at a 4.5% CAGR.
Demand for bioprocessing analytics equipment makes up 2.7% of the worldwide biopharmaceutical equipment market. Over the projection period, high demand for pharmaceutical manufacturing is expected to favour bioprocessing analytics equipment consumption.
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Bioprocessing Analytics Equipment Market: Regional Forecast
This study evaluates the trends driving the growth of each market segment at the global and regional levels, and provides potential takeaways that could be extremely beneficial to manufacturers intending to enter the market. The North American market is expected to dominate the global bioprocessing analytics equipment market, accounting for the highest revenue share by 2022.
Western Europe and the APECJ markets are estimated to contribute for approximately 39.2% of the global bioprocessing analytics equipment market share in terms of value by the end of 2022. Revenue from the APECJ market is expected to grow at a CAGR of 5.9% over the forecast period.
Product innovation is a major trend in the bioprocessing analytics equipment market. Furthermore, the increased relevance of significant players creating bioprocessing analytics equipment to expand their product portfolio is driving the worldwide bioprocessing analytics equipment market.
Bioprocessing Analytics Equipment Market: Segmental Analysis
The global bioprocessing analytics equipment market is divided into four sections: product type, application, end user, and geography. The market is divided into two product categories: osmometers and bioprocess analyzers. Over the projection period, osmometers will be the most popular product type in the bioprocessing analytics equipment market.
North America is predicted to grow in popularity throughout the projection period, owing to the widespread use of cell-based bioprocesses for therapeutic protein manufacturing. Manual monitoring of such bioprocesses is time consuming and can result in production mistakes.
Due to rapid advancements in technology, manufacturers have developed integrated multi-functional analysers, which combine the functionality of different single analyzers (like cell counters, osmometers, nutrient/electrolyte/metabolite bio-profile analyzers) into one technologically enabled novel sampling system to analyse the culture medium automatically. The integration of multiple functionality allows feedback control of parameters and reduces error rates in bioprocessing.
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The market is further divided into clinical and industrial applications based on application. During the assessment period, the industrial application segment is likely to lead the global bioprocessing analytics equipment market. Demand for bioprocessing analytics equipment is expected to be highest across industries, with the industrial category growing at a CAGR of 4.4% over the forecast period.
The market is further subdivided into end users. Biopharmaceutical companies, Contract Research Organizations (CROs), Contract Manufacturing Organizations (CMOs), Academics & Research Institutes, and Clinical Diagnosis are some of the end user groups.
Biopharmaceutical firms are the main end users of bioprocessing analytics equipment, and demand for bioprocessing analytics equipment is likely to be strongest in Biopharma companies, with a 3.9% growth rate over the forecast period.
Key Segments Of Bioprocessing Analytics Equipment Industry Survey
By Product Type:
- Vapour Pressure Depression Osmometers
- Membrane Osmometers
- Freezing Point Depression Osmometers
- Bioprocess Analysers
- Bioprocessing Analytics Equipment for Clinical Applications
- Bioprocessing Analytics Equipment for Industrial Applications
By End User:
- Bioprocessing Analytics Equipment for Biopharmaceutical Companies
- Bioprocessing Analytics Equipment for Contract Research Organizations (CROs)
- Bioprocessing Analytics Equipment for Contract Manufacturing Organizations (CMOs)
- Bioprocessing Analytics Equipment for Academics & Research Institutes
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