DUBLIN, Aug. 14, 2019 /PRNewswire/ -- The "Bioprocess Validation Market by Test Type (Extractables and Leachables, Integrity Testing, Microbiology Testing), Process Component (Filter Element, Bioreactors), End-User (CDMO, Biotechnology & Pharmaceutical Companies) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
Global Bioprocess Validation Market is Exceeded USD 180 Million in 2019 and is Projected to be Valued over USD 360 Million by 2024, at a CAGR of 14.6%
The bioprocess validation market is estimated to grow at a CAGR of 14.6%
The growth of the bioprocess validation services market is driven primarily by the stringent safety and quality regulations governing product certification and testing across the biopharmaceutical and pharmaceutical industries. This has also stimulated the demand for the outsourcing of bioprocess validation services. The rising R&D spending in the life science industry has contributed to this demand significantly, while the growing demand for bioprocess validation in emerging countries and patent expiries have ensured steady market growth. However, the issues related to extractable and leachable testing affect market growth to a certain extent during the forecast period.
Extractables/leachables testing services segment to witness the highest growth during the forecast period
The combination systems segment is estimated to grow at the highest CAGR during the forecast period. This can primarily be attributed to increasing outsourcing of testing services by biopharmaceutical manufacturers; the presence of regulatory mandates and guidelines regarding the testing of extractables & leachables; and growing product safety, identity, purity, and quality; and the increasing risk of product adulteration related requirement.
Filter elements segment to grow at the highest CAGR in the bioprocess validation market, by process component
The major factors driving the demand for filter elements in bioprocess validation are stringent regulations and industry standards for biopharmaceutical products; increasing usage of a variety of filters in bioprocessing; and the high demand for the evaluation of specific filter elements and their impact on the final drug product owing to the factors such as safety and efficacy of biopharmaceutical products.
APAC market to witness the highest growth during the forecast period
The Asia Pacific is estimated to be the fastest-growing regional market for bioprocess validation during the forecast period. The growing biopharmaceutical manufacturing capabilities in Asian countries, increasing demand for outsourcing bioprocess validation, growing life science research specific to biologics, increasing investments by pharmaceutical & biotechnology companies, raising awareness about the advantages of biopharmaceutical drugs, increasing number of CROs & CDMOs, and the favorable government initiatives to promote the growth of the pharmaceutical & biotechnology industries in several APAC countries are some of the major factors driving the growth of this market.
- Stringent Safety and Quality Regulations
- Increasing Demand for Biopharmaceuticals
- Increasing Demand for Outsourcing Bioprocess Validation
- Rising Life Science R&D Expenditure
- Issues Related to Extractables & Leachables
- Growth Opportunities in Asia Pacific and Latin American Countries
- Patent Expiry
- Waste Disposal
- Development of New Validation Methods for Next Generation Bioproducts
- Additional Company Profiles
- Almac Group
- Cobetter Filtration Equipment Co., Ltd.
- Doc S.R.L.
- Eurofins Scientific
- Hangzhou Anow Microfiltration Co., Ltd.
- Meissner Filtration Products, Inc.
- Merck KGaA
- Pall Corporation (A Part of Danaher Corporation)
- Porvair PLC
- Sartorius Stedim Biotech S.A.
- SGS S.A.
- Thermo Fisher Scientific, Inc.
- Tianshan (Ts Filter) Precision Filter Material Co., Ltd.
- Toxikon Corporation
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