Top 10 Bioprocess Technology Market – Key Growth Strategies Adopted by Major Leaders

PUNE, India, 2021-Jan-13 — /EPR Network/ —

Top 10 bioprocess technology market is dominated by GE Healthcare (U.S.), Merck Millipore (Germany), Thermo Fisher Scientific, Inc. (U.S.), Becton, Dickinson and Company (U.S.), and Danaher Corporation (U.S.)

GE Healthcare accounted for the largest share of the global top 10 bioprocess technology market in 2015. The company is engaged in drug discovery, patient monitoring systems, medical imaging solutions, performance improvement solutions, information technologies, medical diagnostics, patient monitoring systems, and biopharmaceutical manufacturing technologies. Healthcare Systems, Life Sciences, and Healthcare IT are the major business segments of the company.

The company primarily focusing on inorganic growth strategies to maintain its footprint in the market. In accordance with this, in November 2016, GE healthcare has expanded its single-use technology manufacturing facility of their life science business segment, to the biotechnology industry. In August 2016, GE healthcare and Sealed Air (U.S.), entered into extended agreement to deliver new film suitable for use in GE’s full single-use bioprocess portfolio.

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Merck Millipore held the second position in the top 10 bioprocess technology market. The company has a strong geographic presence across the globe spanning from North America, Europe, the Middle East, Africa, Asia-Pacific, and Latin America. The company operates in four business segments, namely, Biosciences, Lab Solutions, Process Solutions, and Sigma-Aldrich. These segments offer a wide range of products and technologies such as Chromatography, Sterile Filtration, and Ultrafiltration (UF).

In order to maintain its position in the market, the company pursues organic as well as inorganic growth strategies. In 2016, the company launched two products in the bioprocess technology market, namely, Mobius 1000L single-use bioreactor and Mobius Power MIX 2000, a single-use mixing system. In December 2016, Merck extended their distribution agreement with Roche (Switzerland) under this extended agreement Merck has incorporated new products to Roche’s distribution product portfolio. This agreement enhanced Merck’s existing distribution relationship with Roche.

Other prominent players in the top 10 bioprocess technology market include Thermo Fisher Scientific, Inc. (U.S.), Becton, Dickinson and Company (U.S.), Danaher Corporation (U.S.), Lonza Group AG (Switzerland), Sartorius Stedim Biotech S.A (France), Corning, Inc.(U.S.), Bio-Rad Laboratories (U.S.), and Charles River Laboratories (U.S.).

An analysis of the market developments between 2014 and 2016 revealed that product launches and agreements & collaborations was the most important growth strategy adopted by market leaders.

The other important growth strategy adopted by players in this market was mergers & acquisitions, expansions, and product approvals. This strategy was adopted by market players to enhance their product portfolio and geographic presence. Danaher Corporation (U.S.), Lonza Group AG (Switzerland), Merck Millipore (Germany), and Thermo Fisher Scientific, Inc. (U.S.) are some of the companies that adopted this strategy.

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Expected Revenue Growth:

The global top 10 bioprocess technology market is expected to reach USD 71.03 Billion by 2021 from USD 39.30 Billion in 2016, at a CAGR of 12.4% from 2016 to 2021.

Major Growth Boosters:

Rapid growth in pharmaceutical and biotechnology industries, growth in the number of new drug launches, strong trend of R&D in life sciences research, increasing government support for pharmaceutical and biotechnology industries, and rising prevalence of chronic diseases are the key factors driving the growth of this market.

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