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.
“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 email@example.com.
Single-use Technologies for Biopharmaceuticals: Global Markets( BIO099D )
Publish Date: Jul 2019
Data and analysis extracted from this press release must be accompanied by a statement identifying BCC Research LLC as the source and publisher. For media inquiries, email firstname.lastname@example.org or visit www.bccresearch.com/media to request access to our library of market research.