High Throughput Process Development Market Worth 19.78 Billion USD by 2021
07 Apr, 2017, 14:30 BST
PUNE, India, April 7, 2017 /PRNewswire/ --
According to a new market research report "High Throughput Process Development Market by Product & Service (Instrument, Software and Service), Molecule Type (Monoclonal Antibodies, Recombinant Insulin), Process (Upstream, Downstream), End User (Contract Manufacturing Organization) - Forecast to 2021" published by MarketsandMarkets, the global market is expected to reach USD 19.78 Billion in 2021 from USD 9.91 Billion in 2016, at a CAGR of 14.8% from 2016 to 2021.
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Browse 85 market data Tables and 38 Figures spread through 148 Pages and in-depth TOC on "High Throughput Process Development Market"
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The report provides a detailed overview of major drivers, restraints, current market trends and strategies impacting the global market along with estimates and forecast of revenue.
Growth in the high throughput process development market is mainly driven by the increasing R&D spending, technological advancements in process development, growth in the biopharmaceutical industry, and growing pressure to lower the cost of manufacturing. However, factors such as the high cost of technology and equipment in this market and lack of adequate infrastructural facilities are restraining the growth of this market to a certain extent.
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The global high throughput process development market is segmented on the basis of molecule type, end user, process, product & service, and region. On the basis of molecule type, the high throughput process development market is classified into monoclonal antibodies, vaccine, recombinant insulin, human growth hormones, and others (interferons and interleukins). The monoclonal antibodies segment accounted for the largest share of the global market in 2016. The large share of this segment is attributed to the increasing adoption of targeted immunotherapy and the increasing number of U.S. FDA-cleared therapeutic monoclonal antibodies.
On the basis of end user, the high throughput process development market is segmented into biopharmaceutical manufacturers and contract manufacturing organizations. Biopharmaceutical manufacturers accounted for the largest share of the global high throughput process development market in 2016. The contract manufacturing organizations segment, on the other hand, is expected to be the fastest-growing end-user segment of the market during the forecast period. High R&D investments by biotechnology companies to accelerate drug manufacturing and increasing pressure from regulatory authorities to lower the cost of production are the major factors driving the growth of the biopharmaceutical manufacturer's end-user segment.
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In 2016, North America accounted for the largest share of the global high throughput process development market. Factors such as the increase in R&D spending by pharmaceutical and biopharmaceutical companies, growing demand for technical tools for improving the production quality of biological materials, collective pressure towards lowering the cost of manufacturing biological materials, rising demand for reducing product development timelines, and the presence of major players in this region are driving the growth of the North American high throughput process development market.
The High Throughput Process Development Market is dominated by established players such as Danaher Corporation (U.S.), GE Healthcare (U.S.), Agilent Technologies (U.S.), Merck Millipore (Germany), and Thermo Fisher Scientific (U.S.).
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