The global industrial bioprocessing market size was USD 44.01 Million in 2022 and is expected to reach USD 88.9 Million in 2032
NEW YORK CITY, NEW YORK, UNITED STATES, July 26, 2023 /
EINPresswire.com/ -- Industrial Bioprocessing Market Overview
The global industrial bioprocessing market experienced a significant growth with a size of USD 44.01 Million in 2022 and is projected to reach USD 88.9 Million by 2032, exhibiting a robust revenue CAGR of 9.2% during the forecast period. Several key factors are propelling this market growth, including increasing environmental concerns, a rising demand for bio-based goods and chemicals, and a growing need for renewable and sustainable energy sources.
One of the major drivers behind the revenue growth of the market is the escalating demand for renewable and sustainable energy sources. As the world focuses on reducing carbon emissions and transitioning to cleaner energy alternatives, there is a surge in the adoption of biofuels and biogas. Consequently, bioprocessing plays a crucial role in the production of biofuels and biogas, further contributing to the market's revenue growth throughout the forecast period.
Industrial Bioprocessing Market Segments
The global industrial bioprocessing market exhibited substantial growth in 2022, with a market size reaching USD 44.01 Million. Looking ahead, the market is projected to maintain its upward trajectory, with a forecasted revenue of USD 88.9 Million in 2032, representing an impressive Compound Annual Growth Rate (CAGR) of 9.2% during the period from 2022 to 2032. This growth can be attributed to several factors, including the growing environmental concerns, escalating demand for bio-based goods and chemicals, and an increasing need for renewable and sustainable energy sources.
The rising demand for renewable and sustainable energy sources is a significant driving force behind the market's revenue growth. The global focus on reducing carbon emissions and transitioning to cleaner energy alternatives has led to an increased adoption of biofuels and biogas. As a result, the utilization of bioprocessing in the production of biofuels and biogas is expected to surge throughout the forecast period, further bolstering market revenue growth.
The base year for market estimation is 2022, with historical data covering the years 2020 and 2021. The forecast period spans from 2022 to 2032, during which the market is anticipated to experience substantial expansion. The quantitative unit used for this analysis is revenue, measured in USD Million.
Access Full Report Description with Research Methodology and Table of Content:
https://www.reportsanddata.com/report-detail/industrial-bioprocessing-market
Industrial Bioprocessing Market: Strategic Developments
• In 2021, Thermo Fisher Scientific Inc. announced the acquisition of PPD, Inc., a leading provider of clinical research services to the pharmaceutical and biotech industry. The acquisition was aimed at expanding Thermo Fisher's capabilities in the bioprocessing market, particularly in the areas of gene and cell therapy, vaccines, and biologics.
• In 2020, Danaher Corporation completed the acquisition of the bioprocessing business of General Electric Company's Life Sciences division for approximately $21.4 billion. The acquisition was aimed at expanding Danaher's portfolio of life sciences products and services.
• In 2019, Merck KGaA acquired the U.S.-based biotech company Versum Materials for $6.5 billion. The acquisition was aimed at expanding Merck's presence in the electronic materials market, particularly in the area of bioprocessing.
• In 2019, Sartorius AG acquired a majority stake in the U.S.-based cell culture media specialist Biological Industries. The acquisition was aimed at expanding Sartorius' bioprocessing portfolio and increasing its presence in the cell culture media market.
Get Free Sample PDF (To Understand the Complete Structure of this Report [Summary + TOC]) @
https://www.reportsanddata.com/download-free-sample/7070
Industrial Bioprocessing Market: Competitive landscape
The global industrial bioprocessing market is poised for substantial growth in the foreseeable future, and it features a competitive landscape with a diverse mix of large and medium-sized players. Among the key companies operating in this dynamic market are prominent names such as Thermo Fisher Scientific Inc., Danaher Corporation, Sigma-Aldrich Corporation, General Electric Company, 3M Company, Becton, Dickinson and Company, Sartorius AG, Merck KGaA, Agilent Technologies, Inc., and Bio-Rad Laboratories, Inc.
These industry-leading companies play crucial roles in driving innovation, research, and development within the industrial bioprocessing sector. With their extensive expertise and global presence, they are well-positioned to capitalize on the growing demand for bioprocessing solutions across various industries. As the market continues to expand, these companies are expected to compete vigorously, striving to maintain their market share and stay ahead of the competition.
In this competitive landscape, strategic partnerships, mergers, and acquisitions may become prevalent as companies seek to enhance their capabilities and broaden their product portfolios. Additionally, a focus on technological advancements and research initiatives will be instrumental in catering to evolving customer needs and staying relevant in the ever-changing industrial bioprocessing market.
Browse more Reports:
Impregnating Resins Market-
https://www.reportsanddata.com/report-detail/impregnating-resins-market
Commodity Plastics Market-
https://www.reportsanddata.com/report-detail/commodity-plastic-market
Basalt Fiber Market-
https://www.reportsanddata.com/report-detail/basalt-fiber-market
Fungicides Market-
https://www.reportsanddata.com/report-detail/fungicide-market
Thin Wall Packaging Market-
https://www.reportsanddata.com/report-detail/thin-wall-packaging-market
Request a customization of the report:
https://www.reportsanddata.com/request-customization-form/7070
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
John W.
Reports and Data
+1 212-710-1370
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn