In 2021, the downstream processing market was worth around USD 21.1 billion, and it is projected to advance at a 10.3% CAGR from 2021 to 2030, hitting USD 51.0 billion in 2030, according to P&S Intelligence.
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This growth can be ascribed to the fact that the biotechnology industry is expanding worldwide, a quick surge in research and development expenditure In the biopharmaceutical industry, and contract-making organizations gaining traction. Moreover, there have been implausible opportunities in the biotechnology sector, which have enhanced the growth of the industry on a universal level.
On the basis of application, the antibodies production category is projected to experience the fastest development, growing at a CAGR of approximately 10.9% during the forecast period. Due to the surged requirement for monoclonal antibodies, the need for antibody creation is increasing at the highest rate. The launch of modern items for the efficient purification of antibodies also contributes to the growth of the industry.
In 2021, the chromatography system category dominated the downstream processing market and held the largest revenue share, of 37.5%, on the basis of product type. Constant research and development activities to enhance the speed and effectiveness of chromatography systems are projected to boost industry growth.
In the coming few years, the solid-liquid separation category is predicted to experience the highest CAGR. This can be ascribed to the fact that the solid-liquid separation method has several benefits, such as being more suitable for constant mode production, cost-efficient, and simplicity. Additionally, this kind of filtration might also be easy to apply to an extensive variety of pharmaceutical applications, because of its versatile nature.
Mainly because of rapid growth in research and development efforts in order to enhance bioprocess technologies, high throughput process expansion, constant downstream processing for multicomponent separations and perfusion chromatography systems, and the acceptance of high-resolution membrane systems. This has led to the elevation in the need for improved and enhanced bioprocessing technologies for addressing the purification of a bottleneck.
In 2021, North America led the industry and generated the largest revenue share of approximately 32.4%. This can be ascribed to the several government initiatives to support bioprocess technologies, increasing medical investment, and advanced healthcare infrastructure.
Furthermore, the continent has experienced major cooperative activities with healthcare key players that are heavily spending on the research and development of vaccines and biopharmaceuticals.
Hence, the biotechnology industry is expanding globally, the quick surge in research and development expenditure in the biopharmaceutical industry, and contract-making organizations gaining traction, and also there have been implausible opportunities in the biotechnology sector, such factors are contributing to the growth of the downstream processing industry.
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