(PharmaNewsWire.Com, April 12, 2021 ) The global bioprocess containers market is expected to reach USD 1,914.6 million by 2023 from USD 913.3 million in 2017, at a CAGR of 13.2%. The base year considered for the study is 2017, and the forecast for the market is provided for the period between 2018 and 2023.
Growth in the bioprocess containers market is mainly driven by factors such as the increasing demand for biologics, affordability and sustainability of single-use bioprocess technologies, vaccine production using single-use disposable technologies, and the lower risk of cross-contamination. The booming biopharma industry in emerging countries is also expected to offer a wide range of growth opportunities to players in the market.
On the other hand, issues related to leachable and extractables and increasing market consolidation are expected to challenge market growth to a certain extent during the forecast period.
At present, there is a rising demand for low-cost biologic drugs. A major factor driving the biologics market is the rapidly increasing global geriatric population. According to the US Census Bureau, in 2015, an estimated 8.5% (or 617.1 million individuals) of the global population was aged 65 years and older; by 2030, this figure is estimated to reach 22%. In the same year, the aging population accounted for 18.6% of the total population in the US and 18.9% of the total population in Europe.
Opportunity: Booming Emerging Markets
China, India, Japan, Korea, and Brazil are emerging markets for single use bioprocessing systems. These markets lack proper standards and government regulations and thus offer significant growth potential for providers that are unable to meet the stringent regulatory standards in the US and European Union (EU). High investments in bio-manufacturing infrastructures are another key factor responsible for the high-growth potential of these markets.
For instance, in November 2014, Amgen announced the opening of a USD 200-million bio-manufacturing facility in Singapore to expand its bio-manufacturing capabilities for monoclonal antibodies. For this facility, Amgen adopted single-use systems in 90% of the plant’s operations.
North America is estimated to command the largest share of the market
North America accounted for the largest share of biocontainers market in 2017, followed by Europe. The rising demand for biopharmaceuticals and advantages associated with the use of bioprocess bags such as their energy efficiency, decreased risk of product cross contamination, and fast implementation are driving the adoption of bioprocess containers in North America. The US accounted for the largest share of the North American bioprocess market in 2017.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
