Single-use Technologies for Biopharmaceuticals Market to See 11.3% Annual Growth Through 2024

Industry Boosted by Increasing Demand for Personalized Medicine

July 31, 2019

WELLESLEY, Mass., July 31, 2019–An increasing demand for personalized medicine and extensive ongoing development efforts are two factors which drive growth of the global  single-use technologies for biopharmaceuticals market, according to a report by BCC Research, “Single-use Technologies for Biopharmaceuticals: Global Markets.”

The market expects to see a compound annual growth rate (CAGR) of 11.3% through 2024, when it could be worth $5.9 billion.

Major players in the market include: Thermo Fisher (TMO), Sartorius (SARTF), Danaher (DHR)  and General Electric (GE).

Research Highlights

• North America held the largest share of the market with a total market value of nearly $1 billion in 2018 and is projected to reach nearly $1.8 billion in 2024, witnessing a CAGR of 10.3% during the forecast period.
• The control systems segment of the global market is expected to grow from $462 million in 2019 to $893 million in 2024 at a CAGR of 14.1%.
• The filtration systems segment of the global market is expected to grow from $437 million in 2018 to $916 million in 2024 at a CAGR of 13.2%

Read the full report here: https://www.bccresearch.com/market-research/biotechnology/single-use-technologies-biopharmaceuticals-report.html

“Companies are moving towards single-use technology for commercial manufacturing in order to meet client requirements,” writes analyst Anuj Pathak. “In addition, single-use technology overcomes the need for sterilization between batches and in turn improves efficiency. Biopharmaceutical companies use a range of single-use technology products including small-scale bioreactors, bags and connectors. Such products offer considerable benefits over stainless steel systems like decreased time to market, cost-effectiveness and flexibility. Hence, adoption of single-use technology has increased in biopharmaceutical companies. Additionally, significant growth in pharmaceutical R&D is one of the crucial factors encouraging growth of the market.”

Advances in single-use Technology for Biopharmaceuticals

Over decades, a range of single-use systems has been launched to increase the efficiency of biopharmaceutical development and production processes. This has significantly increased the importance of the technology in upstream and downstream processing. In 1990, single-use bags for storage and transportation were created by HyClone, now part of Thermo Fisher Scientific Inc. This product acted as the foundation for other single-use technologies like bioreactors. In 2009, a shortage of vaccines for the pandemic H1N1 virus was reported, thus increasing interest among vaccines production companies for single-use technology. These factors resulted in a rising demand for faster single-use technology.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Single-use Technologies for Biopharmaceuticals: Global Markets( BIO099D )
Publish Date: Jul 2019    

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