(PharmaNewsWire.Com, June 24, 2020 ) At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Downstream Processing Market. We are working diligently to help companies take rapid decisions by studying:
1. The impact of COVID-19 on the Downstream Processing Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market. 2. The rapid shifts in the strategies of the Top 50 companies in the Downstream Processing Market 3. The shifting short-term priorities of the top 50 companies’ clients and their client's clients
According to the recent report “Downstream Processing Market by Technique (Separation, Concentration, Purification), Product (Chromatography Column & Resin, Filter, Single use), Application (Mab Production), End User (Contract Manufacturing Organization) - Global Forecast to 2021”. The global downstream processing market is poised to reach USD 22.03 Billion by 2021 from USD 10.32 Billion in 2016, at a CAGR of 16.4% from 2016 to 2021.
The growth in the downstream processing market will majorly be driven by the increasing demand for biopharmaceuticals, as downstream processing steps play a significant role in providing pure and quality products. However, the high cost of instruments used in downstream processing is expected to restrain the growth of this market. On the other hand, patent expiration of blockbuster biopharmaceutical products represents significant growth opportunities for the key players in the downstream processing market.
The purification segment accounted for the largest share of the market. This largest share and the high growth is attributed to the need for highly pure biopharmaceutical products to meet the regulatory standards, as downstream purification plays a significant role in enhancing the purity and quality of products aiding the growth of the purification market.
The chromatography columns and resins segment accounted for the largest share of the downstream processing market. Columns and resins are the most important component of a chromatography system and are extensively used in the separation, recovery, and purification of components of a bioactive sample. The constant need for newer and different types of columns and resins is likely to fuel market growth.
North America is the world’s largest pharmaceutical market and a leader in biopharmaceutical research. Rising quality requirements have emphasized the need for advanced bioproduction technology in this region. Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The Asia-Pacific downstream processing market, particularly in China, Japan, India, and South Korea, is expected to witness high growth.
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