Industrial Bioprocessing Market: Introduction
Bioprocessing is a term encompassing research, development, manufacture, and commercialization of products prepared from or used by biological systems, including food, feed, fuels, biopharmaceuticals, and cosmetics. Industrial bioprocessing is a method for conversion of bio products from the laboratory to a manufacturing scale. Bioprocessing aims to cleanse molecules, cells, and parts of cells into purified fractions. Industrial bioprocessing helps in producing value-added products from renewable sources such as vegetable oils and fatty acids.
Global Industrial Bioprocessing Market: Developments and Trends
Rise in environmental concerns regarding the usage of chemicals and volatility in prices of petroleum-based products are boosting the demand for bio-based products. These trends are expected to complement the industrial bioprocessing market during the forecast period. Shift in trend of developing industrial bio-based products such as specialty chemicals, pharmaceuticals, fuels, and chemical feedstock through biological sources is anticipated to positively impact the global industrial bioprocessing market during the forecast period. Pharmaceutical has been the major end-use industry for industrial bioprocessing products since the last few years. This trend is projected to continue during the forecast period. Major companies in the industrial bioprocessing market are actively involved in research & development to develop high quality products through biotechnology. Growth in initiatives toward research & development by major market players is likely to drive market competitiveness. Key companies are entering into partnership with research institutes such as, Queensland University of Technology, Bioprocess Engineering Research, and KGI Amgen Bioprocessing Center, in order to improve technologies.
Global Industrial Bioprocessing Market: Segmentation
The global industrial bioprocessing market can be segmented based on application and region. In terms of application, the global industrial bioprocessing market can be classified into production of vaccines, bio-pharmaceuticals, tissue engineering, biosensors, bioelectronics, therapeutic monoclonal antibodies, bio-arrays, and others (including bio-fabrication for the production of bio-fluidics and other biomaterials).
Industrial bioprocessing products are used as critical components in the production of widely used drugs and vaccines. Bioprocessing technology for the production of therapeutic monoclonal antibodies has been developed in the last few years. Increase in demand for therapeutic monoclonal antibodies in the pharmaceuticals industry is expected to drive the market during the forecast period. Bioprocessing is primarily used in the production of single-use systems such as disposable bags, columns, and bioreactors.
Global Industrial Bioprocessing Market: Regional Outlook
In terms of region, the global industrial bioprocessing market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the prominent region of the global market. Higher sales of biopharmaceutical products; and higher number of academic and research organizations and biopharmaceutical manufacturing plants in the U.S. than that in Canada are driving the industrial bioprocessing market in the U.S. Market share of Asia Pacific is also projected to rise during the forecast period. In terms of revenue, the region is likely to play a significant role in the global market during the forecast period. Development of health care infrastructure; rise in population; growth of the biotechnology industry; and increase in burden of diseases necessitating diagnostics in Brazil, South Africa, and Saudi Arabia are likely to fuel the market in Latin America and Middle East & Africa.
Global Industrial Bioprocessing Market: Key Players
Key players operating in the global industrial bioprocessing market include BD Biosciences, BioPharm International, and GE Healthcare Lifesciences.
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