High Throughput Process Development Market Worth 415.5 Million USD by 2021
PUNE, India, December 20, 2017 /PRNewswire/ --
According to a new market research report "High Throughput Process Development Market by Product (Consumables (Minicolumn, Mini Bioreactor), Instruments), Services, Software, Molecule Type (mAB), Technology (Affinity Chromatography), End User (Biopharmaceutical) - Global Forecast to 2021", published by MarketsandMarkets(TM), the market is expected to reach USD 415.5 Million in 2021 from USD 212.1 Million in 2016, at a CAGR of 14.4% from 2016 to 2021.
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Growth in the High Throughput Process Development Market is mainly driven by increasing R&D spending, technological advancements in process development, growth in the biopharmaceutical industry, and the increasing pressure to lower manufacturing costs.
The monoclonal antibodies segment held the largest share of the global market in 2016
By molecule type, the High Throughput Process Development Market is classified into monoclonal antibodies and others (recombinant pro-insulin, polysaccharide vaccines, recombinant Green Fluorescent Protein (rGFP), fusion proteins, and interferon a-2a). 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 FDA-cleared therapeutic monoclonal antibodies.
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The biopharmaceutical companies segment accounted for the largest share of the High Throughput Process Development Market during the forecast period
Based on end users, the High Throughput Process Development Market is segmented into biopharmaceutical, contract research organizations, and academic research institutes. Biopharmaceutical companies accounted for the largest share of the global High Throughput Process Development Market in 2016. Large R&D investments by biotechnology companies accelerate the drug manufacturing process and the increasing pressure from regulatory authorities to lower the cost of production are the two major factors driving the growth of the biopharmaceutical end-user segment.
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North America to dominate the High Throughput Process Development Market during the forecast period"
In 2016, North America accounted for the largest share of the global High Throughput Process Development Market and it is also projected to register the highest CAGR during the forecast period. 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.
Market Players
The High Throughput Process Development Market is dominated by established players such as Danaher (US), GE Healthcare (US), Agilent (US), Merck Millipore (Germany), and Thermo Fisher Scientific (US).
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