Bioprocess Validation Market is Estimated To Witness High Growth Owing To Increasing Demand Of Monoclonal Antibodies for Chronic Diseases
The Bioprocess Validation Market is estimated to be valued at US$ 356.8 Mn in 2023 and is expected to exhibit a CAGR of 11.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Bioprocess validation includes confirming that any procedure, process, equipment, material, activity or system leads to the expected results. It also involves the use of biological systems or living cells to be used for procedures like recombinant DNA technology, hybridoma technology, tissue engineering and fermentation. Bioprocess validation is necessary to ensure product safety, efficacy and consistency in the pharmaceutical industry.
Market key trends:
Increasing demand of monoclonal antibodies for chronic diseases like cancer, autoimmune diseases etc and rising adoption of single-use technologies are some key trends fueling the growth of global bioprocess validation market. Monoclonal antibodies production require complex multi-step bioprocesses that necessitate stringent validation. Further, single-use bioreactors and disposable sensors offer advantages like reduced cost of capital, eliminated cleaning and sterilization steps which simplifies complex bioprocesses. This has boosted adoption of single-use technologies in the biopharmaceutical industry driving the need for bioprocess validation.
Porter's Analysis
Threat of new entrants: The bioprocess validation market has high entry barriers as it requires heavy investments in R&D, marketing, and manufacturing facilities. Regulations also require extensive validation protocols to be followed.
Bargaining power of buyers: Buyers in the bioprocess validation market have moderate bargaining power owing to the presence of a large number of vendors offering the products and services. However, strict compliance with regulatory standards limits switching between vendors.
Bargaining power of suppliers: Highly specialized equipment and expertise required for validation procedures provides suppliers a certain pricing power. However, the presence of several suppliers ensures suppliers do not exploit their position.
Threat of new substitutes: There are limited to no substitute technologies currently available for bioprocess validation procedures. Stringent regulations prevent the usage of alternative approaches.
Competitive rivalry: The global bioprocess validation market is moderately competitive due to the presence of a few large players and several mid-sized and small companies providing similar products and services. Players need to continuously invest in R&D to compete.
SWOT Analysis
Strengths: Growing biopharmaceutical industry driving demand, stringent quality control regulations necessitating validation
Weaknesses: High capital investment requirements, dependence on skilled labor and expertise
Opportunities: Emerging markets providing growth prospects, increasing outsourcing of validation services
Threats: Threat from alternate technologies, pricing pressures affecting margins
Key Takeaways
The Global Bioprocess Validation Market Size is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing demand for biologics.
Regional analysis
North America dominates the market currently owing to stringent regulatory environment and presence of key market players. Asia Pacific is expected to grow at the fastest pace due to rising biopharma industry, increasing R&D investments and favorable government policies in countries like China and India.
Key players
Key players operating in the bioprocess validation market are Sartorius Stedim Biotech, Merck KGaA, Pall Corporation, Cobetter Filtration Equipment, Toxikon Corporation, DOC S.r.l., MEISSNER FILTRATION PRODUCTS, Thermo Fisher Scientific, SGS SA, Eurofins Scientific, Lonza Group, ProBioGen AG, Charles River Laboratories, Pacific BioLabs, Gibraltar Laboratories, Nelson Laboratories, BioProcess Technology Consultants, CMIC HOLDINGS Co., Ltd, Cytovance Biologics, Wuxi Biologics.
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