With an increasing number of biologics and biosimilars approvals, both downstream and upstream biomanufacturing is set to grow in the coming years: with both sectors increasingly investing in automation for greater speed and productivity.
A new report from BIS Research estimates the overall global next-generation biomanufacturing market is set to grow at a CAGR of 14.85% from 2021-2031: rocketing up from $21,334m in 2021 to $85,201m in 2031.
Considerable investment from both public and private sectors are being used to develop facilities with advanced equipment and instruments.
In particular, automation is gaining prominence in the industry thanks to the advantages of greater speed, productivity, and accuracy. Offering a more streamlined and centralized control, the market for automation systems is growing rapidly, with a greater number of companies investing and launching new automation solutions in the market.
Downstream biomanufacturing to see high growth
The global next-generation biomanufacturing market, by workflow, is primarily dominated by upstream biomanufacturing (this is mainly due to a large number of high-cost equipment in upstream biomanufacturing compared to downstream biomanufacturing).
However, downstream biomanufacturing is expected to witness a higher CAGR than upstream biomanufacturing: thanks to continuous product innovations in the chromatography product lines as well as in filtration systems used in downstream processing.
Regions to watch: North America and Asia
North America dominates the global next-generation biomanufacturing market: thanks to the strong presence of a number of large firms.
“Large, well-equipped biomanufacturing facilities with advanced infrastructure and strong investments in the biomanufacturing sector are significantly promoting the growth of the next-generation biomanufacturing market in North America," notes the report.
"Moreover, the ever-expanding biopharmaceuticals and biologics industry in North America is offering huge promises for the industry's growth, attracting the attention of the investors attempting to enter this field. Further, the headquarters of several key industry players in the US, such as Thermo Fisher Scientific, Inc., GE Healthcare, PBS Biotech, Inc., CESCO Bioengineering Co. Ltd., and Meissner Filtration Products, Inc., have further strengthened the market in the region.”
While North America is a stronghold for biomanufacturing, Asia-Pacific is expected to witness the highest CAGR during the forecast period of 2021-2031.
“This is mainly attributed to the strong potential of emerging nations of Asia-Pacific, including Japan, India, Australia, South Korea, and Singapore, that are witnessing huge adoption of technologically advanced biomanufacturing equipment. The growing surge in new capacity installations to meet the increased product demand in developing nations of Asia-Pacific is further expected to boost the next-generation biomanufacturing market growth.”