At 16.7% CAGR, the Europe Bioprocess Technology Market is projected to be worth US$ 26,588.36 million by 2028, says Business Market Insights

According to Business Market Insights research, the Europe bioprocess technology market was valued at US$ 12,290.88 million in 2023 and is expected to reach US$ 26,588.36 million by 2028, registering a CAGR of 16.7% from 2023 to 2028. Growing R&D spendings to introduce new drug compounds and introducing advanced bioprocess technologies are the critical factors attributed to the Europe bioprocess technology market expansion.               

Pharmaceutical companies are spending huge sum in R&D to introduce new molecules with enhanced medical and commercial potency for various therapeutic applications. Novartis, Roche, Johnson & Johnson, Merck & Co, GlaxoSmithKline, and Pfizer are among the world’s Top 10 companies with high R&D investments. The patent expiry of blockbuster molecules, a limited number of potential products in the pipeline, and the increasing demand for biologics have driven companies to adopt novel technologies, such as single-use bioprocessing technologies, in order to facilitate a quick cost-effective turnaround process for products. Single-use component and system manufacturers typically produce and assemble products in clean rooms to ensure they do not introduce harmful particulates and endotoxins into a bioprocess. Thus, high investments in R&D are made to introduce new drug compounds and aid in the development of bioprocessing technologies; these technologies support emerging biomanufacturing capabilities and related interoperability of raw materials, bioreactors, and unit operations.  

On the contrary, stringent regulatory policies hurdles the growth of Europe Bioprocess technology market.

Based on type, the Europe bioprocess technology market is segmented into cell culture media bioprocess, chromatography bioprocess, and consumables & accessories, and others. The consumables & accessories segment held 45.4% share of Europe bioprocess technology market in 2023, amassing US$ 5,576.56 million. It is projected to garner US$ 12,010.74 million by 2028 to expand at 16.6% CAGR during 2023–2028.

Based on modality, the Europe bioprocess technology market is bifurcated into single use and multiple use. The single use segment held 80.0% share of Europe bioprocess technology market in 2023, amassing US$ 9,830.41 million. It is projected to garner US$ 20,882.81 million by 2028 to expand at 16.3% CAGR during 2023–2028.

Based on end-use, the Europe bioprocess technology market is segmented into academic & medical institutions, biopharmaceutical companies, research laboratories, and others. The biopharmaceutical companies segment held 54.0% share of Europe bioprocess technology market in 2023, amassing US$ 6,631.65 million. It is projected to garner US$ 14,147.92 million by 2028 to expand at 16.4% CAGR during 2023–2028.  

Based on country, the Europe bioprocess technology market is segmented into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 29.3% share of Europe bioprocess technology market in 2023. It was assessed at US$ 3,606.14 million in 2023 and is likely to hit US$ 7,654.79 million by 2028, exhibiting a CAGR of 16.2% during the forecast period.  

Key players profiled in the Europe bioprocess technology market report are BioPharma Dynamics Ltd; Corning Inc; Danaher Corp; Eppendorf SE; Lonza Group AG; Merck KGaA; Repligen Corp; Sartorius AG; STAMM Biotech; and Thermo Fisher Scientific Inc, among others.

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