Upstream bioprocessing market expected to grow to $82.10 billion by 2032
From GlobeNewswire: 2024-11-26 09:00:00
The Upstream Bioprocessing Market was valued at USD 22.79 Billion in 2023, projected to reach USD 82.10 Billion by 2032, growing at a CAGR of 15.35%. U.S. and EU biotech firms raised USD 81.1 billion in 2023, emphasizing innovation. Single-use bioreactors and automation are driving efficiencies and quality, meeting the increasing demand for biologics and vaccines.
Advancements in customized medicine and biosimilars are pressuring the industry to develop more flexible production platforms. New technologies like AI and advanced sensing optimize processes, while sustainable practice policies guide long-term growth toward a low environmental impact future.
In the Upstream Bioprocessing Market, multi-use systems lead with 56% market share in 2023 due to proven technology and scalability. Single-use technologies are expected to grow at a rapid CAGR of 16.35% from 2024 to 2032, offering benefits like flexibility and reduced setup times.
The in-house segment dominated the market in 2023, with 59% market share, maintaining control over quality and intellectual property. The outsourced segment is expected to grow at a CAGR of 16.39% from 2024 to 2032 due to demand for cost efficiency and specialized expertise in biopharma.
Bioreactors/fermenters segment led the market in 2023, accounting for 32% revenue share, crucial for optimizing cell growth and improving operational efficiency. Cell culture products segment is expected to grow at a CAGR of 17.04% from 2024-2032, driven by innovation in cell culture media and equipment for customized therapies.
North America dominated the market in 2023 with a revenue share of 38%, supported by strong demand for biopharmaceuticals and advanced infrastructures. Asia Pacific is expected to grow at the fastest CAGR of 17.74% from 2024 through 2032, benefiting from investments, healthcare needs, and government support for biotechnology. Asia Pacific’s contract manufacturing and biopharma market are reshaping production strategies. Thermo Fisher Scientific offers sustainable solutions, while Merck KGaA acquires Mirus Bio to boost innovation in cell and gene therapy. The Upstream Bioprocessing Market report includes key developments, market dynamics, statistical insights, competitive landscape, and regional analysis. S&S Insider provides in-depth market research and consulting services globally.
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