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(Medical-NewsWire.com, February 17, 2020 ) The top 10 bioprocess technology market is expected to USD 71.03 Billion by 2021 from USD 39.30 Billion in 2016, at a CAGR of 12.4% between 2016 and 2021.
Growth in the biopharmaceutical industry, increase in R&D spending, rising demand for vaccine production, and technological advancements form important growth drivers for this market during the forecast period. The rising opportunities in emerging market and increasing pharmaceutical outsourcing provide significant growth opportunities for players operating in the top 10 bioprocess technology market.
The report provides an overall understanding of the global top 10 bioprocess technology market. It segments the global market on the basis of type and region. On the basis of type, the market is segmented into cell culture, cell expansion, cell counting, cell line development, flow cytometry, single-use bioprocessing, biologics safety testing, virus filtration, tangential flow filtration, and pyrogen testing.
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In 2016, the cell culture segment is expected to account for the largest share of the global top 10 bioprocess technology market. The largest share of this segment is primarily attributed to the repeated purchase of consumables as compared to equipment and increase in funding for cell-based research.
On the basis of region, the market is segmented into North America, Europe, Asia, and RoW. The report maps each bioprocess technology in these geographic and regional segments. In 2016, North America is expected to account for the largest share of the global top 10 bioprocess technology market. Growth in this market can be attributed to the increase in demand of high quality biologics and rising spending on R&D by top players in this region. Similarly, Asia is estimated to grow at the highest CAGR during the forecast period.
The wide applications of bioprocess technology in the biopharmaceutical and pharmaceutical industry are expected to drive the demand for top 10 bioprocess technology market in this region.
The prominent players in the top 10 bioprocess technology market include GE Healthcare (U.S.), 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.), and Charles River Laboratories (U.S.).
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