The market size of the Global Biopharmaceutical Fermentation Market in the year 2021 is valued at 9.44 billion and is predicted to reach 14.91 billion by the year 2030 at an 5.39% CAGR during the forecast period.
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.
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.
Some major key players in the biopharmaceutical fermentation market are "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.