Healthcare to Impact and Propel Global Bioprocess Technology Market Growth: Reveals MRFR
Bioprocess Technology Market is witnessing at present an unprecedented growth due to revolutionary changes effected upon it by technological advancements. The impact is aptly backed by demands generated by the healthcare sector. The global Bioprocess Technology market is expected to witness significant growth during the forecast period (2017-2022), reveals Market Research Future (MRFR) in a detailed analysis of the said market. Bioprocess Technology involves deriving living cells or components and obtains desired results to boost pharmaceuticals or chemical sector. The report incorporates multiple factors that can promote Bioprocess Technology market further such as its growing use in developing new drugs & treatments, food processing, thermal design of biomedical devices, and effective application in pollution control & global warming. An in-depth review of the segments has also been included for a better understanding of the bioprocess technology consultants market in coming years.
However, the regulatory process often delays the approval of new drugs which can increase the production cost by a significant margin. This can put a leash on the expected Bioprocess Technology Market Size growth during the forecast period.
Key players of the Bioprocess Technology market profiled in this report 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.), Bio-Rad Laboratories (U.S.), Charles River Laboratories (U.S.), and others.
The global Bioprocess Technology market can be segmented by type, application, and end-users.
Type-based segmentation of the Bioprocess Technology market includes cell culture, cell expansion, flow cytometry, cell line development, and virus infiltration. Cell culture has diverse application in various sectors which gives it much traction, and it has become a necessary part in treating chronic diseases.
Application-wise, the Bioprocess Technology market comprises biopharmaceuticals, specialty products, industrial chemicals, and environment management aid. Biopharmaceuticals’ prosperous run is to continue owing to its widespread functioning area as it has impacted common medicines to chronic diseases. Furthermore, petrochemicals can propel the demand for industrial chemicals in coming years.
Based on end-users, the Bioprocess Technology market consists hospitals, research labs and centers, medical institutions and others. Research labs and centers to gain the most owing to private and government investments in the field.
Region-specific analysis of the Bioprocess Technology market includes North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America’s growth can be attributed to its ability to fetch the maximum revenue in the global market. Infrastructural superiority can be considered as a boon for the regional market. Furthermore, healthcare is receiving much funding which is directly impacting the Bioprocess Technology market by generating demand for pharmaceutical drugs. Governments and private investors are also spending much in search for new Bioprocess Technology-based products.
Europe is also drawing significant attention from the global market by providing excellent infrastructure for research and development in this sector. However, the APAC is the fastest growing region and is touted to influence the market considerably in coming years. Growing population and revamped healthcare sector can provide the much-needed thrust to the regional market.
Strategies employed by the bigshots in the sector help in both individual and holistic growth of the Bioprocess Technology market. These strategies include mergers, acquisitions, product launch, and other methods and better the market portfolio of companies. For instance, Charles River Laboratories has recently acquired MPI Research, a non-clinical contract research organization (CRO) that provides testing services to biopharmaceutical and medical device companies across the globe. Their market rival, Thermo Fisher Scientific, Inc. signed an agreement with Roper Technologies to acquire Gatan, which can ensure their market profile upgradation.
Novartis and Gilead/Kite have got approval for their respective medicines Kymriah and Yescarta, two cell-therapy biotherapeutic medicine which can significantly trigger monoclonal antibody industry prospect.
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