The global market for testing consumables in biopharmaceutical manufacturing was valued at USD 3.93 Billion in 2022, and projections indicate a growth to USD 7.23 Billion by 2032, with an expected revenue Compound Annual Growth Rate (CAGR) of 7% throughout the forecast period. Key drivers of this market's revenue expansion include increased investments in biopharmaceutical research and development alongside a growing need for biopharmaceuticals.
The emergence of innovative technologies like gene therapy and monoclonal antibodies, which rely on high-quality manufacturing supplies for effective production, has significantly contributed to the recent substantial growth in market revenue for biopharmaceuticals.
The escalating demand for biopharmaceuticals can be attributed to the increasing prevalence of chronic diseases such as cancer, autoimmune disorders, and neurological conditions. The healthcare sector is increasingly adopting biopharmaceuticals due to their recognized higher efficacy, specificity, and lower toxicity compared to traditional small-molecule medications.
Furthermore, the surging global elderly population, being more susceptible to chronic diseases, is a major contributor to the heightened demand for biopharmaceuticals.
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Top Companies:
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Danaher Corporation
- Sartorius AG
- Lonza Group Ltd.
- Charles River Laboratories International, Inc.
- GE Healthcare
- MilliporeSigma
- Bio-Rad Laboratories, Inc.
- PerkinElmer Inc.
Some Key Highlights from the Report
- Increasing Demand for Biopharmaceuticals: The growing demand for biopharmaceuticals is a significant driver for the consumables testing market. With the rise in chronic diseases and the need for innovative treatment options, there is a higher demand for biopharmaceutical products, necessitating stringent testing of consumables used in their manufacturing.
- Stringent Regulatory Standards: Regulatory bodies, such as the FDA (Food and Drug Administration) in the U.S. and similar agencies worldwide, set stringent standards for the manufacturing, quality, and safety of biopharmaceuticals. This necessitates rigorous testing of consumables used in biopharmaceutical production to ensure compliance and safety.
- Technological Advancements: Advancements in technology have led to the development of more sophisticated testing methods and equipment for biopharmaceutical manufacturing consumables. This includes techniques such as high-throughput screening, automation, and advanced analytics, which improve the efficiency and accuracy of testing.
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Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East Africa
Product Type Outlook:
- Instruments
- Reagents Kits
- Services
Application Outlook:
- Biopharmaceuticals Production
- Quality Control Assurance
- Research Development
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