| Source: Research and Markets Research and Markets
Dublin, Jan. 14, 2022 (GLOBE NEWSWIRE) — The “Next-Generation Biomanufacturing Market – A Global Analysis: Focus on Single-Use and Digital Platform and Segment Analysis for Workflow, Products, Medical Application, End User, Country Data (16 Countries), and Competitive Landscape – Analysis and Forecast, 2020-2031” report has been added to ResearchAndMarkets.com’s offering.
The global next-generation biomanufacturing market is expected to grow at a CAGR of 14.85% during the forecast period 2021-2031 and is expected to reach a value of $85,201.2 million in 2031.
“Global Next-Generation Biomanufacturing Market” is focused on understanding the key trends of next-generation biomanufacturing with the use of single-use bioreactors and digital bioreactors across the globe.
The publisher’s healthcare experts have found global next-generation biomanufacturing to be one of the most rapidly evolving markets. The global next-generation biomanufacturing market is expected to grow at a CAGR of 14.85% during the forecast period 2021-2031 and is expected to reach a value of $85,201.2 million in 2031.
The following report presents the reader with an opportunity to unlock comprehensive insights regarding the next-generation biomanufacturing market and helps form well-informed strategic decisions. The market research study also offers a broad perspective of the different types of products and services available in the market and their impact on the biomanufacturing industry by providing critical insights into the direction of its future expansion.
Within the research report, the market is segmented based on workflow and product, medical application, end user, and region. Each of these segments has been further categorized into sub-segments to compile an in-depth study. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
The global next-generation biomanufacturing market, by workflow, is primarily dominated by upstream biomanufacturing. This is mainly attributed to the involvement of a large number of high-cost equipment in upstream biomanufacturing compared to downstream biomanufacturing. However, downstream biomanufacturing is expected to witness a high CAGR during the forecast compared to upstream biomanufacturing. This is mainly due to continuous product innovations in the chromatography product lines as well as in filtration systems used in downstream processing.
Among the different regions, North America dominated the global next-generation biomanufacturing market in 2020. Large, well-equipped biomanufacturing facilities with advanced infrastructure and strong investments in the biomanufacturing sector are significantly promoting the growth of the next-generation biomanufacturing market in North America.
Moreover, the ever-expanding biopharmaceuticals and biologics industry in North America is offering huge promises for the industry’s growth, attracting the attention of the investors attempting to enter this field. Further, the headquarters of several key industry players in the U.S., such as Thermo Fisher Scientific, Inc., GE Healthcare, PBS Biotech, Inc., CESCO Bioengineering Co. Ltd., and Meissner Filtration Products, Inc., have further strengthened the market in the region.
Among all the regions, Asia-Pacific is expected to witness the highest CAGR during the forecast period 2021-2031. This is mainly attributed to the strong potential of emerging nations of Asia-Pacific, including Japan, India, Australia, South Korea, and Singapore, that are witnessing huge adoption of technologically advanced biomanufacturing equipment.
The growing surge in new capacity installations to meet the increased product demand in developing nations of Asia-Pacific is further expected to boost the next-generation biomanufacturing market growth.
The next-generation biomanufacturing market is largely dominated by companies such as Applikon Biotechnology BV, bbi-biotech GmbH, Danaher Corporation, Eppendorf AG, Esco Group of Companies, GEA Group Aktiengesellschaft, Meissner Filtration Products, Inc., Merck KGaA, PBS Biotech, Inc., Pierre Guerin, Sartorius AG, Shanghai Bailun Biotechnology Co. Ltd, Solaris Biotechnology Srl, Thermo Fisher Scientific Inc., ZETA GmbH.
The bioprocess segment of a few companies like GE Healthcare was highly impacted by the COVID-19 pandemic due to the supply-demand gap. Due to this, the company reported low segment revenue in 2020. However, key players like Danaher Corporation witnessed high growth in the revenue attributed to the high demand for bioprocess solutions products.
The global -next-generation biomanufacturing market is growing exponentially due to the high rate of investments from both public and private sectors for the development of facilities equipped with advanced biomanufacturing equipment and instruments.
Automation technologies are increasingly gaining prominence in the biomanufacturing industry over the years owing to their vast range of advantages in terms of greater speed, productivity, and accuracy. Offering a more streamlined and centralized control, the market for automation systems is growing rapidly, with a greater number of companies investing and launching new automation solutions in the market.
Over the past five years, from 2017 to 2021, the next-generation biomanufacturing market has witnessed around 115 key developments biomanufacturing and automation undertaken by key companies that varied from acquisitions to partnerships and collaborations, among others.
For instance, in February 2020, Honeywell International Inc. collaborated with Bigfinite, Inc. to contribute to process automation and controls technology with Bigfinite’s AI, data analytics, and machine learning platform to pace the medical therapies by helping pharma and biotech industries. Further, in March 2019, Rockwell Automation and GE Healthcare underwent a collaborative agreement to combine their automation single-use solution expertise to build bioprocessing operations for digital bioprocessing.
Market Report Coverage – Next-Generation Biomanufacturing
Impact Analysis of Market Dynamics
Key Companies Profiled
For more information about this report visit https://www.researchandmarkets.com/r/twkns3
| Source: Research and Markets Research and Markets