Bioprocess Technology Market 2021
The global bio-process technology market to experience significant growth during the forecast period (2017-2022), reports Market Research Future (MRFR) in an elaborate study. The technology allows the derivation of living cells or their components to utilize it in a vast array of treatments to attain the planned result. Healthcare sector has been experiencing some significant revamping owing to such advanced technology, and the market is touted to experience the benefits during the forecast period.
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Major Key Players:
Merck Millipore (Germany), Thermo Fisher Scientific, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Danaher Corporation (U.S.), Lonza Group AG (Switzerland), Sartorius Stedim Biotech S.A (France), Corning, Inc.(U.S.), Bio-Rad Laboratories (U.S.), and Charles River Laboratories (U.S.).
The global bio-process technology market can be segmented by type, application, and end-users.
Type-based segmentation includes cell culture, cell expansion, flow cytometry, cell line development and virus infiltration. Cell culture is a segment that is enjoying popularity across the world owing to its diverse application in various sectors. The segment is spearheading the market due to its necessity in treating multiple chronic diseases.
Application-wise, the market comprises biopharmaceuticals, specialty products, industrial chemicals and environment management aid. Biopharmaceuticals are prospering much as various medicines used in curing several diseases ranging from the most common ones to chronic diseases are products of such technological advancements. Furthermore, petrochemicals are going to boost the demand for industrial chemicals in the coming years.
Based on end-users, the market consists hospitals, research labs and centers, medical institutions and others. With increasing government and private funding, research labs and centers are extensively investing themselves in developing new products that can take various associated industries miles ahead.
Region-wise, the market comprises namely North America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
North America is currently leading the market in terms of generating revenue. Academic researches and extensive sales of biopharmaceutical products are contributing much to the progress of the region. Well-developed manufacturing facilities and research laboratories in countries such as the U.S. and Canada are proving beneficial for the market.
The APAC is expected to become the fastest growing region during the forecast period. Rising population and the integration of advanced technologies in the healthcare sector are impacting the market significantly. The biotechnology industry is also expanding at a considerable rate.
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