Single Use Bioprocessing Market Report 2022, Size, Covid-19 Impact, Industry Analysis By Product, By Application, By End-Users, By Region and Forecast 2030: SPER Market Research
With the growing demand for biopharmaceuticals owing to the growing number of chronic diseases among the population, the requirement for effective drugs and products is growing which is probable to augment the requirement for single-use technologies, thereby fostering the market growth. For instance, according to the Food Drug Administration, in recent past years, 14 biologics were permitted for the treatment of several chronic diseases. Therefore, the increasing number of biological approvals is projected to augment the biopharmaceutical manufacturing process, which is projected to augment the utilization and implementation of single-use bioprocessing technologies and systems over the forecast duration.
In addition, the single-use technologies and systems help biopharmaceutical producers in overcoming the producers eradicating the risks of contamination and decreasing the requirement for sterilization between batches, hence advancing efficiency. In addition, companies are aiming on developing a new single-use system that is used in both upstream and downstream processing of the production of biopharmaceuticals.
Also, the product’s low water usage, outstanding energy efficiency, small footprint, and low peril of contamination are all factors that are propelling the market expansion.
According to the SPER market research, ‘Single Use Bioprocessing Market Size, Share & Trends Analysis By Product, By Application, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030’ states that the single-use bioprocessing market is predicted to reach USD 35.1 billion by 2030 with a CAGR of 16.9%. The prevalence of chronic diseases is growing around the globe, demanding developments of new and large-scale production of biopharmaceutical products. Single-use bioprocessing equipment help in the large-scale production of such product at an economical cost.
The extensive usage of biopharmaceuticals as therapeutics agents such as allergenic agents, cell therapies, and vaccines to name a few. It is also utilized in the treatment of cancer. Therefore, the speedy growth of biopharmaceuticals is progressively fostering the demand for the single-use bioprocessing system. The increasing geriatric population around the world is predicted to foster the market growth during the near future. According to the United Nations, by 2050, it is predicted that nearly 2 billion of the global population will be of 65 years or above. The geriatric population are more prone to chronic syndromes and therefore the requirement and consumption of biopharmaceutical medicines will augment progressively, thereby fostering the growth of the global single-use bioprocessing market.
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The Asia Pacific registere the market in recent past years and is predicted to be the most opportunistic market. This is accredited to the speedy growth and development of the biopharmaceutical industry in the region. Moreover, the outbreak of the COVID-19 pandemic stimulated the government to invest profoundly in the research and development of COVID-19 vaccines, diagnostics tests, and drugs.
The existence of giant players, largescale production units, increasing adoption of disposables, augmented expenditure in health care, and extremely developed healthcare infrastructure are the top aspect augmenting the Asia Pacific single-use bioprocessing market. In addition, the several contract manufacturers and the increasing usage of disposables amongst them are exponentially propelling the single-use bioprocessing market in the region.
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