Bioprocessing Analytics Equipment Market Growth is set to total US$ 485.1 Mn in 2022. The global market is expected to reach US$ 633.6 Mn by 2028, rising at a CAGR of 4.5%.
In terms of revenue, the global bioprocessing analytics equipment market is anticipated to register a CAGR of 4.5% over the forecast period, owing to various factors, regarding which FMI offers detailed insights and forecasts in this report.
Bioprocessing Analytics Equipment Market: Segmental Analysis
The global bioprocessing analytics equipment market is segmented based on product type, application, end user and region.
Based on product type the market is segmented into osmometers and bioprocess analysers. Osmometers is the leading product type in the bioprocessing analytics equipment market over the forecast period.
North America is expected to gain popularity over the forecast period, driven by cell-based bioprocesses extensively utilised for therapeutics protein production.
Due to rapid advancements in technology, manufacturers have developed integrated multi-functional analysers, which combine the functionality of different single analyzers (like cell counters, osmometers, nutrient/electrolyte/metabolite bio-profile analyzers) into one technologically enabled novel sampling system to analyse the culture medium automatically.
The integration of multiple functionality allows feedback control of parameters and reduces error rates in bioprocessing.
The market is further categorised based on application into clinical and industrial applications. The industrial application segment is expected to lead in the global bioprocessing analytics equipment market during the assessment period.
Demand for bioprocessing analytics equipment is anticipated to be the highest across various industries, and the industrial segment is projected to register a CAGR of 4.4% over the forecast period.
The market is further classified based on end users. End user segments include Biopharmaceutical Companies, Contract Research Organization (CROs), Contract Manufacturing Organizations (CMOs), Academics & Research Institutes, and Clinical Diagnosis.
Biopharmaceutical companies are the largest end users of bioprocessing analytics equipment while demand for bioprocessing analytics equipment is expected to be the highest in Biopharma companies – anticipated to register a growth rate of 3.9% over the forecast period.
This report assesses trends that are driving the growth of each market segment at the global as well as regional level, and offers potential takeaways that could prove substantially useful to manufacturers looking to enter the market.
The North America market is estimated to dominate the global bioprocessing analytics equipment market, accounting for a maximum revenue share of the market by 2022 end.
The Western Europe and APECJ markets are collectively expected to account for around 39.2% of the total bioprocessing analytics equipment market share in terms of value by 2022 end.
Revenue from the market in APECJ is projected to expand at a CAGR of 5.9% over the forecast period.
A key trend witnessed in the bioprocessing analytics equipment market is product innovation.Furthermore, the growing importance of developing bioprocessing analytics equipment by big players to enhance their product portfolio is trending the global bioprocessing analytics equipment market.