July 2022
20 Sep 2024
The global bioprocess technology market revenue was valued at USD 23.80 billion in 2023 and is poised to grow from USD 27.22 billion in 2024 to USD 104.51 billion by 2034, at a CAGR of 14.4% during the forecast period 2024 – 2034. The rising awareness among people about bioprocess technology and acceptance of advanced technology treatment for better results are a few factors contributing significantly to the bioprocess technology market.
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Bioprocess technology is the technology that utilizes living cells and various other parts to use them to treat people and get the desired result out of it. Pharmaceutical companies prefer bioprocess technology as it is more effective, and the by-product produced while making it is renewable. The rising demand for biofuels, biopharmaceuticals, and sustainable methods of treatment is pushing the advancement of bioprocess technology. These techniques are in demand as they are more specific and effective than any other traditional methods. Bioprocess technology provides highly advanced methods to convert life science into industrial products.
Bioprocess technology involves certain processes like preparation, purification, and production; it can be done with a mild reaction, which again makes it preferable to companies. This technology is widely used for monoclonal antibodies, therapeutic proteins, and biological products like vaccines. With the advancement of DNA recombinant technology, the potential for bioprocess technology is expanding rapidly.
The growing use of bioprocess technologies by food and pharmaceutical sectors driving the bioprocess technology market
Multiple factors are responsible for the growth of bioprocess technology. One of the major reasons is that the growing pharmaceutical sector influences companies to adopt this technology due to several benefits. There is a demand among people for innovative technologies and medicines that effectively cure any chronic diseases, so biopharmaceutical companies prefer this bioprocess technology, which is observed to be effective and also cost-cutting, which makes it preferable.
Moreover, there is a rising number of chronic disease cases like cancer and various other diseases that can be seen commonly, like autoimmune disease, diabetes, etc. The continuous government support and investment in the development of bioprocess technology influence the market to progress. Due to awareness among people and success rates in bioprocess treatment, the majority of the population is inclined toward this market and helping biopharmaceutical companies to invest in research work. Bioprocessing consists of a combination of engineering, mathematics, and biology and activities such as downstream processing, designing bioreactors, media volume production, biocatalysts, purification, and substrates. The huge demand for vaccines for several diseases also contributes largely to the bioprocess technology market.
For companies manufacturing drugs and vaccines with bioprocess technology, fulfilling the large market requirements is a huge challenge. The high-cost initial setup required in biopharmaceutical companies makes it challenging to initiate this bioprocess technology. Stringent supervisory needs for drug safety, validity, and quality are a matter of concern for biopharmaceutical companies.
| Report Attribute | Key Statistics |
| Market Revenue in 2024 | USD 27.22 Billion |
| Market Revenue by 2034 | USD 104.51 Billion |
| Market CAGR | 14.4% from 2024 to 2034 |
| Quantitative Units | Revenue in USD million/billion, Volume in units |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Recent Development by Boston Micro Fabrication
Recent Development by Repligen Corporation
Asia Pacific is anticipated to expand at the fastest rate in the estimated period in the upcoming time. The development in the area is accredited to the thriving biopharmaceutical business. The growing government provision is projected to improve the growth of the market in the upcoming ages.
North America dominated the bioprocess technology market in 2023 due to the existence of a huge number of companies and constant dedication to bringing advanced technologies and effective medication into the market for better results, also due to the large population suffering from chronic diseases, biopharmaceutical support and development to cure them. Proper government support and collaboration for research studies result in the growth of the bioprocess technology market.
Europe region is estimated to grow significantly during the predicted period from 2024 to 2033 because of the growing request for bioprocess technology. The growing occurrence of chronic diseases is forecasted to permit quick growth of the bioprocess technology market.
Growing demand for customized medicines rising in the bioprocess technology market
The bioprocess technology market is controlled for constant development and is determined by numerous development aspects. One of the crucial development aspects is the growing attention to modified medicine and the best treatments. The capability of bioprocess technologies to help the manufacturing of modified biologics personalized to distinct patient requirements is in line with the developing tendencies in health care. This custom-made method is anticipated to determine the progress and acceptance of bioprocess technologies in the upcoming time.
Moreover, the growing channel of bio-pharmaceutical products and the appearance of innovative, beneficial modalities, like DNA segments and cell therapies, make important development chances for the bioprocess technology market. Bioprocess technologies that can put up the difficulties of working these progressive therapies are expected to be in top demand.
The bioprocess technology market is observing strong development determined by the growing biopharmaceutical business, industrial developments, and the growing demand for custom-made medicine. While trials like high execution charges and intricate supervisory landscapes occur, the rise of the market is maintained by a variety of features that site it for sustained extension in the predictable future.
Market Segmentation
By Product Type
By Application
By End-Use
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