Skip to main content

Next-Generation Biomanufacturing Market size to expand significantly by $85,201.2 Million

 One major factor that prevails in every region is the rising demand for technologically advanced, optimized, and cost-effective biomanufacturing produce to enhance the production of biologic-based medicines. This extensive demand has further propelled biopharmaceutical companies as well as contract manufacturers to embrace this technology. The global next-generation biomanufacturing market is therefore perceived to be a market with high attractiveness by the investors. With the advent of COVID-19, the demand for advanced biomanufacturing increased for high precision. With the growing number of biopharmaceutical products in the pipeline and increasing approval for them, the market witnessed high growth in the last two years. Furthermore, increased funding from private investors and governments for the development of next-generation biomanufacturing facilities is expected to additionally boost the demand for next-generation biomanufacturing products. The most promising way to venture into this market and gain measurable profits is through innovation and development of advanced, compact, and efficient next-generation biomanufacturing that offers an advantage over traditional products.

Global Scenario of Next-Generation Biomanufacturing Market

The following figure provides a representation of some of the key players of the global next-generation biomanufacturing market



    Drivers and Restraints of the Global Next-Generation Biomanufacturing Market

Drivers

  • Increasing biologics and biosimilars approval and growing prominence of cell-based and gene therapy products
  • Successful collaboration between biopharmaceutical companies and CDMO/CROs and low outsourcing cost for biomanufacturing
  • Continuous technological innovations of biomanufacturing equipment and emergence of the latest technologies such as single-use bioreactors
  • Advantages of long-term merits offered by smart manufacturing and digitization in bioprocessing
  • Increased number of partnership agreements and joint ventures between large biopharma companies and private players
  • Huge funding from private investors and government promoting the development of next-generation biomanufacturing facilities

Restraints

  • Exorbitant cost in setting up manufacturing facilities
  • Mandatory requirement of Current Good Manufacturing Practice (CGMP) certification for facilities involved in biomanufacturing  and stringent regulatory guidelines of quality and traceability
  • Complex production steps, process operational complexity, risk of product contamination, maintenance of production efficiency, and validation challenges
  • Unharmonized manufacturing standards and lack of knowledge and skilled labor in middle-income and low-income countries

BIS healthcare experts have found global next-generation biomanufacturing to be one of the most rapidly evolving markets. The global next-generation biomanufacturing market is expected to grow at a CAGR of 14.85% during the forecast period 2021-2031 and is expected to reach a value of $85,201.2 million in 2031.

The following report presents the reader with an opportunity to unlock comprehensive insights regarding the next-generation biomanufacturing market and helps form well-informed strategic decisions. The market research study also offers a broad perspective of the different types of products and services available in the market and their impact on the biomanufacturing industry by providing critical insights into the direction of its future expansion.


Request a Sample - https://bisresearch.com/requestsample?id=1206&type=download



Labels:

Comments

Post a Comment

Popular posts from this blog

Clinical Decision Support Systems (CDSS) Market registering a CAGR of 6.70% during the forecast period 2021-2030

The global market for clinical decision support systems (CDSS) registered the market value of $1,918.8 million in 2020 and is expected to reach $3,739.2 million by 2030, registering at a CAGR of 6.70% during the forecast period 2020-2030. The clinical decision support systems of the future are expected to be developed to leverage data to make observations which are not interpretable by humans. Healthcare IT systems in the future are expected to leverage cutting-edge technology as an enabler to make clinical care more streamlined and accurate. The technology is still in its nascent stage. One of the strong points of this technology is that it improves with time. Continuous input from clinicians, patients, and other stakeholders will be essential for correctly implementing the technology to enhance meaningful uses, reduce costs, and improve treatment outcomes. Key USPs of the Report Following are some of the key contents of the report: •     Industry Analysis    ...
Post a Comment
Read more

Microbiome Therapeutics Market Growth, Segmentation, Opportunity and Forecast to 2032

  Global microbiome therapeutics market is expected to grow further in the coming years due to the continuous increase in awareness and need for better and safer treatment alternatives and the dominance of gastrointestinal (GI) and infectious diseases segment can be attributed to the existing dominance of microbiome therapeutics available for a variety of indications ranging from diarrhea and gut dysbiosis to skin disorders, cancer indications among others. The global microbiome therapeutics market which accounted for $306.3 million in 2021 is expected to reach $3,204 million by 2032, reporting a CAGR of 24.95% during the forecast period 2022-2032. The existing   microbiome therapeutics market    is favored by multiple factors, including the rising geriatric populations coupled with the increasing adoption of inorganic growth strategies by key players in the market. Impact of COVID-19 There were numerous consequences due to the COVID-19 pandemic, especially...
Post a Comment
Read more

Hyperspectral Imaging Market Projections , Upcoming Trends Focus on Long-Term Impact of Covid-19 and Forecast By 2027

  The global  hyperspectral imaging market  was estimated to be at $791.2 million in 2021, which is expected to grow with a CAGR of 13.17% and reach $1,640.3 million by 2027.The growth in the global hyperspectral imaging market is expected to be primarily driven by increased awareness of the technology in different sectors such as agriculture, healthcare, and mining. The hyperspectral imaging technology has great potential, and the market is anticipated to grow during the forecast period owing to the widespread applications of HSI, increasing investments for RD activities, increasing demand from military and defense sectors, increased food safety concerns, and increasing awareness regarding early diagnosis of diseases.   COVID-19 Impact and Post-COVID-19 Scenario The COVID-19 pandemic had a debilitating impact on the global ecosystem. The pandemic led to a shutdown of production facilities, which do not come under essential goods, which led to a negative impact on se...
Post a Comment
Read more