Single-use Bioprocessing Material Market Size, Status, Share and Technology Forecast to 2027
"Single-use Bioprocessing Material Market by Product and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global single-use bioprocessing material market was valued at $2,800.0 million in 2016, and is projected to reach $9,342.1 million by 2023, growing at a CAGR of 18.7% from 2017 to 2023. The plastic segment accounted for five-eighths share of the global market in 2016.
Single-use bioprocessing technology has gained significant traction in the recent years, owing to the rapid adoption of disposable bioprocessing equipment by pharmaceutical manufacturers. This has fueled the manufacturers to integrate different materials in the construction of single-use bioprocessing products. These products have also proved beneficial for the small scale pharmaceutical manufacturers. Hence, most biopharmaceutical companies utilize single-use bioprocessing technology for manufacturing vaccines, monoclonal antibodies, and other pharmaceutical components on commercial scale. This has spurred the demand for high-grade plastic and silicone materials in the development of SUB products.
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Moreover, biopharmaceutical manufacturers segment has dominated the global market in 2016 and is anticipated to maintain this trend throughout the forecast period. The major driving force of the increasing utilization of single-use bioprocessing systems is the collaboration between leading manufacturers and small-scale suppliers of filtration, container or closure systems, mixing systems, fermentation systems, and cell culture systems (bioreactors).
Asia-Pacific witnessed highest growth rate for single-use bioprocessing market and is expected to continue this trend throughout the forecast period. This is attributed to the rise in expenditure on healthcare along with the improvement in medical and healthcare infrastructure. In addition, the key market players focus on the opportunities offered by the growing demand for single-use bioprocess systems. Such systems are highly cost-effective, which has gained popularity among end users in this region. Moreover, significant growth of pharmaceutical and the biotechnology industries across the countries of Asia-Pacific region have supplemented the market growth.
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