Attributed to the economic and operational benefits of bioprocess bags, they have been widely adopted in the biopharmaceutical sector for various bioprocessing applications. This positive scenario is projected to continue, as currently, over three-fourth biotech companies use some kind of single-use technology devices, and are set to increase consumption over the years. Owing to increased demand, bioprocess bags currently account for nearly one-third of the global single-use technology devices market. Use of bioprocess bags reduces leak points and chances of contamination, making them an ideal choice over conventional stainless steel containers. These advantages are poised to fuel the growth of the bioprocess bags market, which is slated to close in on a market valuation US$ 3 Bn by 2030-end.
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Key Takeaways from Bioprocess Bags Market Study
- On the basis of type, 2D bioprocess bags have remained the preferred choice in global bioprocess bags market, and generated a market value worth US$ 880 Mn in 2019.
- In response to increasing demand for biopharmaceuticals, biotech companies are scaling up their production capacities, which will drive demand for 3D bioprocess bags.
- Small- and medium-sized bioprocess bags account for a leading share in the global bioprocess bags market, and are set to generate an absolute $ opportunity worth US$ 1.1 Bn by 2030.
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- On the basis of application, the chromatography feed & collection segment is poised to expand at a leading growth rate of 10% over the forecast period.
- Attributed to the range of bioprocessing applications, the biotechnology end-use industry accounted for over three-fourth of global consumption in 2019.
- The United States is projected to remain a leading consumer of bioprocess bags during the forecast period, surpassing a market valuation worth US$ 1.2 Bn by 2030.
“The coronavirus outbreak and failure of conventional pharmaceutical drugs have resulted in huge investments in biotech industries, which will create huge demand for bioprocess bags till the mid-term forecast period,” says a Fact.MR analyst.
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Targeted Acquisition Strategies by Players to Fuel Market Growth
Players in the bioprocess bags market space have been strategically focusing on high potential bioprocess bags, and in response, they have invested millions of dollars in acquiring companies across different geographical regions. Under their targeted strategy, prominent players have acquired numerous competitors to strengthen their market position.
- For instance, Sartorius AG acquired selected assets of the life science business of Danaher Corporation in 2020, to enhance its position in the global biopharma market.
- In 2019, ThermoFisher strategically acquired two companies – API manufacturing company named Glaxo-Smith-Kline, and Brammer Bio, a viral vector manufacturer.
Such strategies will assist stakeholders to progress in the global bioprocess bags market over the forecast period.
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