Increased preference for use of high-grade polymer materials in the construction of single-use bioprocessing products drives the growth of the global single-use bioprocessing material market.
PORTLAND, Ore., April 27, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Single-use Bioprocessing Material Market by Material (Plastic, Silicone, Others), by Application (Media Bags & Containers, Tubes, Filters, Sampling Systems, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global single-use bioprocessing material industry was estimated at $1.31 billion in 2020, and is anticipated to hit $6.41 billion by 2030, registering a CAGR of 17.3% from 2021 to 2030.
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Drivers, restraints, and opportunities-
Increased preference for use of high-grade polymer materials in the construction of single-use bioprocessing products drives the growth of the global single-use bioprocessing material market. On the other hand, existing concerns regarding the large-scale disposal of plastic derivatives used in the SUB products are expected to hamper the growth to some extent. Nevertheless, surge in the incorporation of cost-effective materials in the development of single-use bioprocessing products is anticipated to pave the way for lucrative opportunities in the industry.
Covid-19 scenario-
- The majority of key manufacturers of single-use bioprocessing systems are currently working with companies to develop vaccines or to experiment with those that are already under clinical trials. This, in turn, has given way to increase in demand for single-use bioprocessing material, thereby impacting the market positively.
- This trend is most likely to continue till the pandemic is completely over.
The plastic segment to maintain the dominant share-
By product, the plastic segment contributed to the major share in 2020, holding more than three-fifths of the global single-use bioprocessing material market. The same segment would also cite the fastest CAGR of 18.0% during the forecast period. Surge in utilization of single-use media bags and containers for the production of pharmacetuical products drives the segment growth.
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The media bags & containers segment to rule the roost-
By application, the media bags & containers segment accounted for the major share in 2020, holding nearly two-fifths of the global single-use bioprocessing material market. The sampling systems segment, on the other hand, is also expected to grow at the fastest CAGR of 18.9% from 2021 to 2030. This is due to the varied advantages offered by sampling systems such as increased accuracy and cost efficient outcomes.
North America garnered the major share in 2020-
By region, the market across North America had the lion's share in 2020, generating more than one-third of the global single-use bioprocessing material market. Presence of several biopharmaceutical companies in the U.S. and increased pharmaceutical drugs and vaccines production across the region drive the market growth. The Asia-Pacific region, simultaneously, is projected to portray the fastest CAGR of 18.7% by 2030. This is attributed to the rise in demand for vaccines & drugs over the last 2 years and the rigorously growing healthcare industry in countries such as India and China.
Key players in the industry-
- Arkema, Inc.
- Exxon Mobil Corporation
- BASF
- evonik industries ag
- Celanese Corporation
- Dow chemical company
- saint gobain
- Mitsubishi Chemical Advanced Materials
- LyondellBasell Industries Holdings B.V.
- SABIC
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