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The Biopharmaceutical Fermentation Market Size is valued at 10.17 Billion in 2023 and is predicted to reach 16.03 Billion by the year 2031 at an 6.11 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The increasing emphasis of companies on creating innovative biological drugs is projected to drive the need for fermentation services and products, contributing to market growth.
- However, adhering to stringent regulatory requirements, encompassing validation and compliance with evolving global standards, presents challenges in the field of biopharmaceutical fermentation.
- Based on application, the recombinant proteins segment held a major market share.
- North America dominated the skin treatment market and accounted for a revenue share of global revenue in 2023.
The creation of novel medications depends heavily on fermentation. Patients can utilize these medications to treat illnesses like cancer, H1NI viruses, and numerous other pandemic disorders. Global biopharmaceutical fermentation has been propelled by the need to create novel medications during the forecast period. Some key market drivers include the rising older population, higher use of human services, and increased prevalence of chronic diseases globally. Due to their natural structure, cheap cost, and superior output, goods developed from fermentation are increasingly being used in various global sectors, driving the market for biopharmaceutical fermentation.
In addition, the market is anticipated to be driven by an increase in research and development activities in various domains of fermentation technology, technological developments, increased product awareness, and the introduction of new products. The increasing demand for biotechnology-based advanced products, such as monoclonal antibodies and antibody derivatives, vaccines, and monoclonal antibodies, as well as rising research and development to produce biomedical substances, is one of the key factors driving the development of the biopharmaceutical fermentation market.
Competitive Landscape:
Some major key players in the Biopharmaceutical Fermentation Market:
- GE Healthcare,
- Thermo Fisher Scientific Inc,
- Danaher Corporation,
- Sartorius Stedim Biotech,
- Merck KGaA,
- Eppendorf AG,
- Hoffmann-La Roche Ltd.,
- Nova Biomedicals,
- Lonza,
- Becton, Dickinson and Company
- Other market players.
Market Segmentation:
The biopharmaceutical fermentation market is segmented by product, application and end users. Based on the product, the market is segmented into upstream and downstream processes. By application, the market is segmented into antibiotics, recombinant proteins, monoclonal antibodies, probiotics, and others. Based on end-user, the market is segmented into biopharmaceutical industries, contract research organizations, food industries, academic research institutes, and others.
Based On Product, The Recombinant Proteins Segment Is Accounted As A Major Contributor In The Biopharmaceutical Fermentation Market
The recombinant proteins are expected to hold a major share of the global biopharmaceutical fermentation market in 2021. Microbial systems are heavily relied upon to produce recombinant proteins, increasing the segment's dominance. Therapeutics has contributed substantially to creating recombinant therapeutic antibodies and proteins due to increased funding for research activities and the introduction of new proteins.
The Biopharmaceuticals Industries Segment Witnessed Growth At A Rapid Rate
The biopharmaceutical industry segment is projected to increase in the global biopharmaceutical fermentation market. The growing emphasis on R&D-related spending is helping to meet the enormous demand for biopharmaceuticals. Additionally, there is an increasing need to avoid the adverse side effects of various small-molecule therapies and invasive surgical procedures, driving up the market demand for biopharmaceuticals. The market is also estimated to be driven by the rising number of FDA approvals and new product launches for various indications, especially in countries such as the US, Germany, the UK, China, and India.
The North American Biopharmaceutical Fermentation Market Holds A Significant Revenue Share In The Region
North America is estimated to hold the most significant share of the market over the upcoming years. Because of rising medical costs, an advanced healthcare system, and government support for advancing bioprocess technologies. The region has also seen a significant increase in joint ventures with healthcare behemoths heavily sponsoring vaccination and biopharmaceutical R&D.
The Asia Pacific is predicted to have significant potential in the global market for biopharmaceutical fermentation because of changing economic landscapes, rapid urbanization, increased healthcare spending and investment, and the rising prevalence of chronic lifestyle diseases.
Recent Developments:
- In March 2024, Merck invests over €300 million in a new Bioprocessing Production Center in Daejeon, South Korea, marking its largest investment in Asia-Pacific yet and showcasing dedication to expanding capacities in the region
Biopharmaceutical Fermentation Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 10.17 Billion |
|
Revenue Forecast In 2031 |
USD 16.03 Billion |
|
Growth Rate CAGR |
CAGR of 6.11% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
Product Type, Application, End-Use |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
GE Healthcare, Thermo Fisher Scientific Inc, Danaher Corporation, Sartorius Stedim Biotech, Merck KGaA, Eppendorf AG, Hoffmann-La Roche Ltd., Nova Biomedicals, Lonza, Becton, Dickinson and Company |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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