Next-Generation Biomanufacturing Market to Witness Healthy Growth through 2025
Thriving biopharmaceutical
sector to act as a major growth driver for United States next-generation
biomanufacturing market
According to
TechSci Research report, “United States Next-Generation
Biomanufacturing Market By Type (Continuous Upstream
Biomanufacturing, Single-Use Upstream Biomanufacturing, Downstream
Biomanufacturing), By Medical Application (Monoclonal Antibodies, Hormones, Vaccines,
Recombinant Proteins, Others), By End Users (Biopharmaceutical Companies,
CMOs/CDMOs, Research Institutions), By Region, Forecast & Opportunities,
2025”, the market is anticipated to grow at a significant
CAGR during the forecast period. Key factors propelling the growth of United
States next-generation biomanufacturing market include growing awareness
regarding the benefits next-generation biomanufacturing, thriving
biopharmaceutical sector and adoption of advanced healthcare technologies in
the country. In addition to this, increasing funds by government for the
development of innovative biomanufacturing technologies are augmenting the
growth of next-generation biomanufacturing market in United States. Also, the
presence of leading manufacturers is making United States a major market for
next-generation biomanufacturing. Furthermore, outbreak of COVID-19 in United
States has made development of vaccines the main goal of biomanufacturing companies,
which is expected to fuel the market until 2025.
Additionally, addition of new products in the
development pipeline and shifting focus toward the implementation of single-use
products is fostering the growth of United States next-generation
biomanufacturing market. Also, with the entry of more companies in next-generation
biomanufacturing and their focus on product innovation, the market is expected
to undergo substantial growth through 2025. The increasing number of biopharmaceutical
companies in United States are further driving the market growth. Moreover,
advantages of next-generation biomanufacturing such as reduced risk of
contamination of products and adoption of cost savings facilities is fueling its
market growth.
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The United
States next-generation biomanufacturing market is segmented based on type,
medical application, end users and region. Based on application, the market can
be segmented into monoclonal antibodies, hormones, vaccines, recombinant
proteins and others. Among them, the monoclonal antibodies segment is expected
to register significant growth during the forecast year owing to high rate of
product approvals. Moreover, the occurrence of coronavirus has led to extensive
development of vaccines, which is further making monoclonal antibodies the
dominant segment in the market.
Based on end
users, the United States next-generation biomanufacturing market can be
segmented into biopharmaceutical companies, CMOs/CDMOs and research
institutions. Among these, biopharmaceutical company segment is expected to
dominate the United States next-generation biomanufacturing market during the
forecast period, which can be attributed to high number of biopharmaceutical
companies and growing adoption of advanced technologies by these companies.
Major players operating in the United
States next-generation biomanufacturing market include Thermo Fisher
Scientific, Inc., Danaher Corporation, Merck & Co., Inc., Eppendorf, Inc.,
Sartorius Corporation, GEA North America, Inc., PBS Biotech, Inc, Applikon
Biotechnology, Inc. and Meissner Filtration Products, Inc. The market players
are undergoing growth strategies like product innovation and strategic
partnerships to increase their market share.
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“The benefits
associated with next generation biomanufacturing products over first generation
biomanufacturing products in terms of quality and efficiency is providing
profitable opportunity for manufactures. Also, the growing patient pool and
requirement for cost saving facilities are fostering the growth of next
generation biomanufacturing market in United States. The current market
scenario, especially post coronavirus times, is indicating further growth
opportunities for this market. With need for advanced biomanufacturing
practices, the market is expected to witness rapid growth in coming years,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“United States Next-Generation
Biomanufacturing Market By Type (Continuous Upstream Biomanufacturing, Single-Use
Upstream Biomanufacturing, Downstream Biomanufacturing), By Medical Application
(Monoclonal Antibodies, Hormones, Vaccines, Recombinant Proteins, Others), By End
Users (Biopharmaceutical Companies, CMOs/CDMOs, Research Institutions), By Region,
Forecast & Opportunities, 2025” has evaluated the future growth potential of United States next-generation
biomanufacturing market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges and opportunities in United States next-generation
biomanufacturing market.
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