ALBANY, New York, September 28, 2016 /PRNewswire/ --
The highly consolidated single-use bioprocessing market is dominated by Thermo Fisher Scientific, Satorius AG, Merck KGaA, Pall Corporation, and GE Healthcare. Cumulatively, these companies accounted for a whopping 95.2% share in 2015, signaling the concentrated nature of the market by large and established players.
Transparency Market Research notes that the threat of new entrants in the single-use bioprocessing systems market is moderate owing to the fact that existing players possess brand identity and have unique proprietary product offerings. Nevertheless, the degree of competition is expected to remain moderate to high in the market over the course of the forecast period.
Transparency Market Research estimates that the global single-use bioprocessing systems market will rise from a value of US$2.3 bn in 2015 to US$5.9 bn by 2024, expanding at a robust CAGR of 11.1% over the forecast period.
Browse full Industry Research Report: http://www.transparencymarketresearch.com/single-use-bio-processing-systems-market.html
Robust Growth of Bioprocessing Bags Segment Attributed to Frequent and Recurring Purchases
Bioprocessing bags are projected to account for a 27.0% share by 2024, emerging as the leading product segment of the global single-use bioprocessing systems market. The robust growth of the bioprocessing bags segment can be attributed to frequent and recurring purchases for several upstream and downstream functions such as mixing, filtration, storage, transport, and media preparation and fermentation. The segment is also projected to expand at a strong CAGR of 14.8% from 2016 to 2024.
Accounting for the major share in the overall single-use bioprocessing systems market, the monoclonal antibody production segment is projected to continue its lead throughout the forecast period, exhibiting a growth rate higher than the other segments. By end use, the pharmaceutical segment is projected to dominate the market for single-use bioprocessing systems. However, the CRO and CMO segment is expected to gain much traction in the coming years, registering a high CAGR from 2016 to 2024.
Geographically, Europe was the leading market in 2015, accounting for a share of 29%. The region is likely to lose market share by 2024 but will continue its dominance throughout the forecast period. Registering a CAGR of 12.3%, Asia Pacific is projected to emerge as one of the fastest growing regions in the global single-use bioprocessing systems market.
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Demand for Customized Single-use Products on the Rise
When it comes to single-use products, it is of utmost importance to customers that the use product in question be customized as per their requirements. "Single-use bags, bioreactors, and bioprocess containers are all amenable to customer-specific customization requests depending upon the application," the TMR analyst states. This lends flexibility to the consumer, which is not always possible with capital equipment such as stainless steel bioprocess containers. This acts as a major growth driver.
Other factors driving the single-use bioprocessing systems market include an overall reduction in cost, a reduction in clean-in-place (CIP) and steam-in-place (SIP) processes, minimized chances of cross-contamination, various technological advancements and innovations, and a growth in the production of monoclonal antibodies.
In contrast, various technical difficulties, environmental concerns regarding the use of disposables, and continued preference for stainless steel products over single-use technologies have been limiting the growth of the market.
This review is based on the findings of a TMR report titled "Single-use Bioprocessing Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016 - 2024."
Browse Regional Press Release on Single-use Bioprocessing Systems Market: http://www.europlat.org/single-use-bioprocessing-systems-market.htm
Global Single-use Bioprocessing Systems Market, by Product
- Bioreactors & Fermenters
- Bioprocess Containers
- Filtration Devices
- Sampling Systems
- Connectors & Clamps
- Probes & Sensors
Global Single-use Bioprocessing Systems Market, by End User
- CRO & CMO
- Academic & Research Institutes
Global Single-use Bioprocessing Systems Market, by Application
- Monoclonal Antibody Production
- Vaccine Production
- Plant Cell Cultivation
- Patient Specific Cell Therapies
- Others (production of enzymes, growth factors etc.)
Global Single-use Bioprocessing Systems Market, by Geography
- North America
- Asia Pacific
- Australia & New Zealand
- Rest of APAC
- Rest of Europe
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Browse Other Research Reports:
- Single-use Bioreactors Market: http://www.transparencymarketresearch.com/single-use-bioreactors-market.html
- Vaccine Production Market: http://www.transparencymarketresearch.com/vaccine-production-market.html
- Transcriptomics Technologies Market: http://www.transparencymarketresearch.com/transcriptomics-technologies-market.html
Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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SOURCE Transparency Market Research