Portland, OR, July 07, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global Downstream Processing Market was estimated at $21.8 billion in 2020 and is expected to hit $92.0 billion by 2030, registering a CAGR of 13.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Rise in demand for biopharmaceuticals and increase in R&D expenditure for biopharmaceutical companies drive the growth of the global downstream processing market. On the other hand, dearth and shortage of skilled bioprocess engineers restrain the growth to some extent. However, emerging markets such as China and India offer lucrative opportunities in the industry.
- Rise in demand for Covid-19 vaccines across the world impacted the global downstream processing market positively, since downstream process is an important method utilized for the production of vaccines.
- The key players in the industry also heightened their production to cater to the demand for products.
The global downstream processing market is analyzed across technology, product, system, application, end user, and region. Based on technology, the purification segment accounted for the major share in 2020, holding more than two-fifths of the global market. The same segment would also exhibit the fastest CAGR of 14.4% throughout the forecast period.
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Based on product, the chromatography columns and resins segment generated the highest share in 2020, accounting for around two-fifths of the global market. The same segment would also exhibit the fastest CAGR of 14.7% from 2021 to 2030.
Based on region, the market across North America held the lion’s share in 2020, garnering around two-fifths of the global market. The Asia-Pacific region, on the other hand, is expected to cite the fastest CAGR of 14.6% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global downstream processing market report include Danaher Corporation, Repligen Corporation, Thermo Fisher Scientific Inc., Merck & Co., Inc., Boehringer Ingelheim, Lonza Group AG, Eppendorf AG, 3M Company, Finesse Solutions, Inc., and Sartorius Stedim Biotech S.A. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market…