Next-Generation Biomanufacturing Market Shows Impressive 7.8% CAGR and US$ 40.9 billion by 2032 in Market Growth – By PMI
Prophecy Market Insights latest research report on the Next-Generation Biomanufacturing Market provides a comprehensive analysis of the current market scenario, growth opportunities, challenges, and emerging trends. The report offers insights into the market’s size and share, key market players, distribution channels, and consumer preferences. It also examines the impact of the COVID-19 pandemic on the market and provides a detailed analysis of the competitive landscape, including strategic alliances, mergers, and acquisitions.
Covina, Oct. 10, 2023 (GLOBE NEWSWIRE) — Biopharmaceutical products are made from living cells and thus, behaves differently as compared to traditional pharmaceutical products. Next-Generation Biomanufacturing help in improving scalability, efficiency, sustainability and cost-effectiveness in manufacturing processes of biologics.
Growing advancement in biomanufacturing technology has become a leading factor in target market growth. Further, rising prevalence of chronic diseases and increasing effectiveness and life expectancy with biopharmaceutical treatment has facilitated the demand for market growth. Furthermore, presence of major players and huge investment in next-generation bio manufacturing plant is expected to fruitful the demand for industrial growth.
- In February 2023, Genentech plugged $450 million into next-generation biologics plant in California which will be the modernist commercial scale biotech manufacturing facilities in the world. The plant is designed to provide sustainable, efficient and fast commercial production of biologics for rare diseases and personalized medicine.
Growing adoption of digital technology and growing trend of AI (artificial intelligence) in bio manufacturing to increase quality of product with reduced cost have provided lucrative opportunities in target market growth. Further, outbreak of pandemic such as COVID-19 has boom the biopharmaceutical industry fuelling the growth of Next-Generation Bio manufacturing market.
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|Base year for estimation||2022|
|Forecast period||2022 – 2032|
|Market representation||Revenue in USD Billion & CAGR from 2022 to 2032|
|Market Segmentation||By Workflow Type – Upstream Workflow, Downstream Workflow, Single-Use Upstream Workflow
By Application – Recombinant Proteins, Monoclonal Antibodies, Vaccines, Hormones, and Others
By End-Users – Research Institutions, Biopharmaceutical Companies, Contract Research Organizations, and Others
|Regional scope||North America – U.S., Canada
Europe – UK, Germany, Spain, France, Italy, Russia, Rest of Europe
Asia Pacific – Japan, India, China, South Korea, Australia, Rest of Asia-Pacific
Latin America – Brazil, Mexico, Argentina, Rest of Latin America
Middle East & Africa – South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors, and trends|
- Merck & Co
- Sartorius AG
- ESCO Group LLC
- Danaher Corporation
- Thermo Fisher Scientific Inc
- Meissner Filtration Products Inc
- PBS Biotech Inc
- Solaris Biotechnology Srl
- GEA Group AG
- bbi-biotech GmbH
Next-Generation Biomanufacturing Market growth:
- Biopharmaceutical Industry Expansion: The biopharmaceutical industry is growing rapidly, with an increasing number of biologics and biosimilars in development and on the market. Next-generation biomanufacturing technologies are crucial to meet the rising demand for these products.
- Efficiency and Cost Reduction: Next-generation biomanufacturing technologies, such as continuous bioprocessing and single-use systems, offer increased efficiency and cost savings compared to traditional batch processes. This is particularly appealing to pharmaceutical companies looking to reduce production costs.
- Flexibility and Scalability: Next-generation biomanufacturing platforms are more flexible and scalable, allowing for faster and more streamlined production processes. This adaptability is essential for addressing changing market demands and handling diverse product portfolios.
- Regulatory Support: Regulatory agencies like the U.S. FDA have been supportive of innovative manufacturing approaches. They are providing guidance and frameworks to facilitate the adoption of next-generation biomanufacturing technologies.
- Advanced Analytics and Data-Driven Manufacturing: The integration of advanced analytics, artificial intelligence, and machine learning into biomanufacturing processes is improving process control, quality, and productivity.
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Next-Generation Biomanufacturing Market future outlook:
- Advanced Bioprocessing Technologies: The industry was moving towards more advanced bioprocessing technologies, including continuous bioprocessing, single-use bioreactors, and automation. These technologies improve efficiency, reduce production costs, and allow for more flexibility in biomanufacturing.
- Cell and Gene Therapies: The development and commercialization of cell and gene therapies were expanding. These therapies have unique manufacturing requirements, including small batch sizes, high precision, and strict regulatory oversight. Biomanufacturers were adapting to meet these demands.
- Personalized Medicine: Personalized medicine and precision therapies were gaining traction. Biomanufacturing processes needed to be adaptable to produce therapies tailored to individual patients.
- Data Analytics and AI: Data analytics and artificial intelligence were increasingly being used to optimize biomanufacturing processes. These technologies can help predict and prevent manufacturing issues, improve yield, and reduce costs.
- Regulatory Challenges: The regulatory landscape for biomanufacturing was evolving, with agencies working to establish clear guidelines for advanced therapies like cell and gene therapies. Adhering to these regulations was critical for market players.
- Sustainability: Sustainability and environmental concerns were becoming more important in the biomanufacturing industry. Companies were exploring ways to reduce the environmental impact of their processes, such as using renewable energy sources and minimizing waste.
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