Bioprocess bag manufacturers are capitalizing on growing interest in sustainable offerings, without compromising on stringent contamination standards.
NEW YORK, NY / ACCESSWIRE / April 8, 2021 / The global bioprocess bags market is projected to reflect a very promising growth trajectory at an approximate 9% CAGR through the end of the forecast period in 2031. Applications in terms of compliance with strict regulatory standards in the biotechnology sector is a key factor driving the industry. According to Fact.MR's report, market players have found short term opportunities arising from the covid-19 pandemic. Substantial investments into pharmaceutical and biotechnology research during the crisis period has created a conducive environment for the sales of bioprocess bags.
"Bioprocess bags are designed to display heat-resistant, autoclavable, and sterile characteristics. Manufacturers are displaying interest in custom offerings for end user specific applications. Bioprocess bags are used extensively in pharmaceuticals as viable alternatives to metal, plastic, or glass containers. Potential for applications in handling cell cultures and solvents in cold and high temperature storage will influence developments in the near term," says the FACT.MR analyst.
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Bioprocess Bags Market- Key Takeaways
- Reusable bags are projected to reflect faster growth owing to cost advantages to end users, in terms of applications for academic and research institutes.
- Biopharmaceutical applications will hold major market share owing to the growing popularity of disposable products among contract research organizations in the industry.
- United States holds the lead as a global biotechnology and biopharmaceutical hub, in addition efforts towards faster drug approvals.
- China is emerging as a high growth market for bioprocess bags owing to government initiatives towards research and development in biotechnology.
Bioprocess Bags Market- Driving Factors
- Stringent standards associated with purity and cross contamination in the biotechnology industry drives growth.
- Potential for applications in cold and high temperature applications support demand in the pharma sector.
- Wide scope of applications including buffer preparation, cell culture, harvesting & storage sustain growth.
Bioprocess Bags Market- Major Restraints
- Lack of awareness about the applications of bioprocess bags, especially in developing countries with poor infrastructure hurts adoption prospects.
- Shortage of adequately trained professionals to make use of bioprocess bags is expected to hinder growth.
COVID-19 Impact on Bioprocess bags Market
The bioprocess bags market has been moderately affected by the covid-19 crisis. Restrictions on manufacturing activities has disrupted supply chains and sales. Also, continuing uncertainty over the duration of the pandemic has restrained applications which will impact short term growth prospects.
On the other hand, rising investments into the biotechnology and pharmaceutical sectors have created opportunities for the near term. Also, favorable physical and chemical characteristics have bolstered sales in research facilities and hospital environments, setting up a conducive environment for long term growth.
Competitive Landscape
Danaher Corporation, Charter Medical Ltd., Merck, Rim Bio Inc., Thermo Fisher Scientific, Entegris Inc., Sartorius AG, Corning Incorporated, and Saint Gobain are some of the leading bioprocess bags manufacturers in the consolidated global market.
Major players in the bioprocess bags market are focused on investments towards product development and research efforts, while leveraging the covid-19 crisis to consolidate market position by boosting sales for single use bag offerings.
In March 2021, Thermo Fisher Scientific have launched single use, large capacity bioreactors with 3000- and 5000-liter bioprocess bags, aimed towards applications in CDMO and pharmaceutical companies.
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In January 2021, Pall Corporation announced an investment of US$ 114 million for boosting global production capacities for bioprocessing systems in response to covid-19 demand. Also, Further, Astra Zeneca has joined hands with Samsung Biologics in a project involving large scale drug ingredient and bioprocess equipment production.
About the Report
This study offers readers a comprehensive market forecast of the bioprocess bags market. Global, regional and country-level analysis of the top industry trends impacting the bioprocess bags market is covered in this Fact.MR study. The report offers insights on the bioprocess bags market on the basis of type (2D and 3D), capacity (small, medium, large, and extra-large), end use industry (biotechnology and pharmaceuticals), and application (buffer & media storage, cell culture, cell separation & harvest, chromatography feed & collection, ultrafiltration & diafiltration, Intermediate & final product hold) across six key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East and Africa).
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SOURCE: Fact.MR