The biopharma buffer market set for strong growth over next decade
SWOT Analysis
Strengths: Wide range of applications in biologics production, drug discovery and stability testing.
Weaknesses: Higher costs compared to traditional chemical-based buffers.
Opportunities: Growth in demand for biologics and monoclonal antibodies drives the need for advanced buffers.
Threats: Stringent regulatory guidelines regarding buffer selection and validation.
Key Takeaways
Market size: The Global Biopharma Buffer Market Size was valued at US$ 3.44 billion in 2022. The market is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period 2023-2030, due to increasing R&D investment in biopharmaceuticals.
Regional analysis: North America dominates the global market currently due to presence of leading biopharma players and availability of advanced healthcare facilities. Asia Pacific is expected to be the fastest growing market during the forecast period with double digit CAGR owing to increasing biologics production in China, India and South Korea.
Key players: Key players operating in the biopharma buffer market are Merck KGaA, Thermo Fisher Scientific Inc., Avantor, Inc., Lonza Group Ltd., Bio-Rad Laboratories, Inc., Sartorius AG, Corning Inc., Becton, Dickinson and Company, GE Healthcare, Promega Corporation. These players are focusing on new product launches to consolidate their market position. For instance, in 2021, Avantor launched a screening and process development buffer portfolio to accelerate drug development workflows.
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