(IT-NEWSWIRE.COM, April 05, 2021 ) The Report "Bioprocess Containers Market by Type (2D Bags, 3D Bags, Tank Liners), Application (Process Development, Upstream, and Downstream), End Users (Biopharmaceutical, and Life Science Companies), and Region - Global Forecast to 2023", The Bioprocess Containers Market is expected to reach USD 1,914.6 Million by 2023 from USD 1,030.0 Million in 2018, at a CAGR of 13.2%.
The major factors driving the growth of this market include the lower risk of cross-contamination, high adoption of bioprocess containers over stainless steel equipment, and increasing adoption of single-use technology in the manufacturing process of biopharmaceuticals.
Growth in the bioprocess containers market is mainly driven by factors such as the increasing demand for biologics, affordability and sustainability of single-use bioprocess technologies, vaccine production using single-use disposable technologies, and the lower risk of cross-contamination.
The booming biopharma industry in emerging countries is also expected to offer a wide range of growth opportunities to players in the market. On the other hand, issues related to leachable and extractables and increasing market consolidation are expected to challenge market growth to a certain extent during the forecast period.
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Biopharmaceutical Companies is expected to account for the largest share for Bioprocess Containers Market
Based on end user, the biocontainers market is segmented into biopharmaceutical companies and life science R&D companies. The biopharmaceutical companies’ segment is expected to dominate the market during the forecast period, while the life science R&D companies segment is expected to grow at the highest CAGR. Biopharmaceutical manufacturing is generally characterized using single-use technologies including bioprocess containers. Bioprocess container systems, due to their cost-effectiveness, have found wide use in biopharmaceutical manufacturing as they can lower the overall cost of production. This is the key factor driving market growth for the biopharmaceutical companies’ segment.
North America is estimated to command the largest share of the market
North America accounted for the largest share of this market in 2017, followed by Europe. The rising demand for biopharmaceuticals and advantages associated with the use of bioprocess bags such as their energy efficiency, decreased risk of product cross contamination, and fast implementation are driving the adoption of bioprocess containers in North America. The US accounted for the largest share of the North American bioprocess market in 2017. The growing focus on biopharmaceutical production is a major driver for this market. Government support for novel biologics production has triggered R&D activity in the country, thereby making it an attractive destination for biologics manufacturing.
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The key players in the bioprocess containers market are Thermo Fisher Scientific (US), Sartorius (Germany), GE Healthcare (US), Merck KGaA (Germany), Danaher Corporation (US), Lonza (Switzerland), Fenner PLC (UK), Meissner (US), Rim Bio (US), and Fluids Control (Argentina).
Mr. Aashish Mehra