Global Downstream Processing Market to Surpass 83.47 Billion by 2030 Driven by Rising Demand for Biopharmaceuticals
SkyQuest projects that the global downstream processing market will attain a value of USD 83.47 billion by 2030, with a CAGR of 15.21% during the forecast period (2023-2030). The global downstream processing market demand for biopharmaceuticals is witnessing robust growth, driven by several key factors. One of the primary drivers is expanding bioprocessing capacity, which allows for the efficient production of biopharmaceuticals at larger scales to meet rising demand. Additionally, there is a growing acceptance of single-use technology in bioprocessing, which streamlines production processes and reduces contamination risks, further fueling the sector's growth.
Westford USA, Feb. 05, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest, the growing popularity and rising demand for biopharmaceuticals, including vital products such as monoclonal antibodies, vaccines, and recombinant proteins, has consistently risen in the downstream processing market. Downstream processing is pivotal in this dynamic landscape, critical in purifying and isolating these intricate biological products. Its primary objective is to guarantee these therapeutics' safety, quality, and efficacy.
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The relentless progress in biotechnology has ushered in an era of unprecedented innovation, resulting in the development of novel and intricate biopharmaceutical products in the global downstream processing market. In response to these advancements, downstream processing techniques and equipment have evolved significantly to address the unique challenges of processing these cutting-edge therapies.
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Prominent Players in Global Downstream Processing Market
Thermo Fisher Scientific Inc.
GE Healthcare
Merck KGaA
Sartorius AG
Danaher Corporation
3M Company
MilliporeSigma
Novasep Holding S.A.S.
Lonza Group Ltd.
Eppendorf AG
Repligen Corporation
Charles River Laboratories International, Inc.
Boehringer Ingelheim International GmbH
Avantor, Inc.
Corning Incorporated
Pall Corporation
Shimadzu Corporation
Agilent Technologies, Inc.
ABEC, Inc.
Nova Biomedical
Chromategraphy Segment to Dominate due to Widespread Adoption of Single-Use Chromatography
The downstream processing market saw the purification by chromatography segment taking the lead, contributing 40.98% of the total revenue in 2022. This dominance can be attributed to the widespread adoption of single-use chromatography and filtration systems, which have become industry standards for downstream bioprocessing.
The market in North America emerged as the dominant force in the downstream processing market, capturing the largest revenue share at 34.57% in 2022. This commanding position can be attributed to several key factors bolstering the region's biopharmaceutical industry. North America benefits from substantial government support to promote and advance bioprocess technologies.
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Filters Segment is Expected to Witness Significant Growth due to Rising Demand for Downstream Processing
Filters segment is projected to experience the highest CAGR of 16.10% within the downstream processing market between 2023 and 2030 This remarkable growth can be attributed to a pivotal factor driving the demand for downstream processing, namely the expanded utility of filters in viral inactivation.
Regional markets Asia Pacific is poised for remarkable growth in the downstream processing market, with an anticipated highest growth rate of 15.67% during the period spanning from 2023 to 2030. This remarkable expansion is primarily driven by the escalating investments made by both developers and consumers in biotechnology.
A comprehensive analysis of the major players in the downstream processing market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Downstream Processing Market
Thermo Fisher Scientific unveiled a groundbreaking downstream processing platform in 2023. This innovative platform is specifically designed to empower biopharmaceutical companies by enhancing the efficiency and productivity of their manufacturing processes. The launch of this advanced technology underscores the industry's relentless pursuit of improved manufacturing capabilities and quality assurance.
In 2023, GE Healthcare made a strategic acquisition by adding Cytiva to its portfolio. Cytiva has established itself as a prominent provider of downstream processing technologies tailored for the biopharmaceutical sector.
Key Questions Answered in the Global Downstream Processing Market Report
What specific growth drivers are projected to impact the market during the forecast period?
List the top companies in the market and explain how they have achieved their positions of influence.
In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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