Global bioprocess validation market in 2019 surpassed USD 179 million and is anticipated to be capitalized more than USD 369 million by 2025, with a CAGR of just more than 15% from 2019–2025.
The global bioprocess validation market value was estimated at 179 (USD Million) in 2019 and is predicted to accrue a revenue of over 369 (USD Million) by 2025 registering a CAGR of over 15% during the period from 2019 to 2025. The report offers valuation and analysis of surface protection tapes market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Million).
Key Growth Drivers
With the concept of the right product, at the right time, and at the right place becoming a buzzword of the biopharmaceutical industry, the market for bioprocess validation is anticipated to gain traction over the forecast period. Furthermore, new drugs are being launched in the biopharmaceutical sector and this will require bioprocess validation in the foreseeable future.
Apparently, the feasibility of operations & processes is a few of the challenges faced by both the pharmaceutical and biopharmaceutical industries. Furthermore, bioprocess validation assists in reducing the daunting process in both these industries. This, in turn, is anticipated to steer the expansion of the bioprocess validation industry over the forthcoming years.
Our report also provides the current developments taking place in the industry along with the competitive strategies adopted by the market players to expand their profit margins and try to consolidate their position in the market or optimize their market share in this fragmented industry. Let us discuss the initiatives taken by some of the reputed brands of the industry.
In January 2020, Merck KgaA, a renowned German-based pharmaceutical firm, announced that it will set up a biotech development unit in Switzerland. As per the company sources, the investments in the unit are likely to hit €250 million. Reportedly, the key objective of the firm is to interweave biologics development & creation. Furthermore, the CEO of the healthcare unit of Merck declared that the setting up of the biotech development center is related to the focus of the firm’s operations on healthcare activities.
For the record, the pharmaceutical giant is likely to complete the project by 2021 and have it authenticated by 2022. The center will cover 169,000 square feet of area and the new construction is expected to have the capacity of accommodating a cross-functional team of 250 employees. Furthermore, the center will include new technologies for reducing the lead & cycle times and offer best process control, governance, and performance management practices to proficiently tackle the complexities of biomolecule drug development & delivery activities.
This, the strategic moves adopted by the reputed firms in the industry will have a major impact on the growth of the bioprocess validation industry over the years to come.
Some of the other key players profiled in the company apart from Merck KgaA include Cobetter Filtration Equipments Co., Ltd., SGS S.A., DOC S.r.l., Thermo Fisher Scientific, Toxikon Corporation, Sartorius Stedim Biotech, Eurofins Scientific, Pall Corporation, and MEISSNER FILTRATION PRODUCTS, INC.
The global bioprocess validation market is segmented as follows:
By Test Type
By Process Component
By End User