Bioprocessing Analytics Equipment Market report is segmented on the basis of product type, application, end-user, and region & country level. Based upon product type, bioprocessing analytics equipment market is classified into osmometer and bioprocess analyzers. On the basis of application, bioprocessing analytics equipment market is classified into clinical application, and industrial application. On the basis of end-user, the market is classified into biopharmaceutical industries, contract research organizations, academics & research institutes and others.
Bioprocessing Analytics Equipment Market is valued at USD 565.0 Million in 2018 and expected to reach USD 811.0 Million by 2025 with CAGR of 5.3% over the forecast period.
Bioprocessing analytics equipment is the bio-analytical devices which are widely used in the biopharmaceutical processes and industrial applications for monitoring and control of fermentation and bioprocesses. The device examines the bioprocess components such as glucose, ammonium, potassium, glutamate, lactate, and others. Product innovation is the key trend observed in the bioprocessing analytics equipment market. Likewise, many manufacturers are more focusing on developing and expansion of their product portfolio for fulfilling this purpose the importance of developing bioprocessing analytics equipment has grown drastically and are very trending in the biopharmaceutical market. The manual monitoring bioprocesses is labor-intensive which can lead to inaccuracies in the production process. With the rapid technological advancement, key players have developed combined multi-functional analyzers which have multiple functionalities of different single analyzers into one analyzer which evaluate the culture medium automatically.
The development of multiple functionalities device has reduced the rate of errors in the bioprocessing process by controlling the feedback parameters in bioprocess. The growth bioprocessing analytics equipment market is expected to increase at a large scale owing to increasing need optimization process for bio-therapeutics in the biopharmaceutical industry. Bioprocessing analytics is used in monitoring, measurement, and modeling of bioprocess data. Also, bioprocessing analytics helps in managing production cost required for bio-therapeutics processes. Moreover, bioprocessing analytics equipment also helps in keeping the downstream and upstream process track of extremely progressive instrumentation with smart sampling techniques. These factors are expected to significantly raise the growth of bioprocessing analytics equipment market.
The regions covered in this bioprocessing analytics equipment market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of bioprocessing analytics equipment is subdivided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
The major players operating in the bioprocessing analytics equipment market are Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd., ELITechGroup, KNAUER, Gonotec GmbH, Advanced Instruments Inc., Merck Millipore, GE Healthcare, Becton, Dickinson and Company, Danaher Corporation, and Others.
Rising R&D Expenditure and Growing Technological Advancements are the Factors Expected to Drive the Growth of this Market
The research and development process requires a large investment and funds because of the lengthy developments and approval cycles process. In the recent past years, it has been observed that with the increasing approvals by regulatory bodies there has been an increase in the number of new drugs entering the market. Additionally, regulatory authorities have also commenced a number of steps to improve the first approval rate step. This step would provide the FDA to fast access the innovative therapies to speed up the research and development activities. Also, to improve the productivity of the bioprocessing manufacturing process, many companies are putting emphasis on analytical quality-by-design methods. This step taken by the FDA and companies is estimated to boost the bioprocessing analytics equipment market growth in the forecast years. Moreover, technological advancements, rising vaccine production demand, growth in the biopharmaceutical industry, and an increase in R&D expenditure acts as the major factors to drive the growth of the market. However, strict regulatory policies and high cost of equipment are likely to restrict the growth of the bioprocessing analytics equipment market.
North America is the most Prominent Market for the Bioprocessing Analytics Equipment
Geographically, Bioprocessing Analytics Equipment market report is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America, followed by Europe market is expected to project to be the most revenue generation market for the bioprocessing analytics equipment. North America is expected to grow at the fastest CAGR during the forecast period. The growth of North America market is driven by cell-based bioprocesses widely used for the production of therapeutics protein. Also, the region has highly specialized facilities and availability of advanced resources for the research purposes.
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