(MENAFN- GlobeNewsWire - Nasdaq) New York, June 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Downstream Processing Global Market Report 2023" -
, Eppendorf AG, Corning Corporation, Ferner PLC, Ashai Kasei Corporation, and Finesse Solutions Inc.
The global downstream processing market is expected to grow from $23.72 billion in 2022 to $27.19 billion in 2023 at a compound annual growth rate (CAGR) of 14.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The downstream processing market is expected to reach $45.13 billion in 2027 at a CAGR of 13.5%.
The downstream processing market consists of revenues earned by entities by providing downstream processing services such as cell separation, filtration, product recovery, extraction of products, and more.The market value includes the value of related goods sold by the service provider or included within the service offering.
The Downstream processing market also includes sales of small-scale fermenters, pilot-scale fermenters, centrifuges, and membrane filtration systems which are used in providing downstream processing services.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Downstream processing refers to the recovery and purification of a drug substance (DS) from natural sources, such as animal or bacterial cells. It outlines the sequence of steps necessary to create a pure and homogenous protein product from biological components such as cells, tissue culture fluid, or plant tissues.
North America was the largest region in the downstream processing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the downstream processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products used in downstream processing are centrifuges, dryers, chromatography systems, filters, evaporators, and others, with various types of techniques involved, including purification techniques, solid-liquid separation, and clarification or concentration.Centrifuges refer to a device that uses centrifugal force to separate materials with different densities, remove moisture, or simulate the effects of gravity.
It is used in several applications, such as monoclonal antibody production, vaccine production, insulin production, immunoglobulin production, erythropoietin production, and others.
The increasing healthcare expenditure is expected to propel the growth of the downstream processing market going forward.Healthcare expenditure refers to all expenditures for the provision of health services, family planning activities, nutrition activities, and emergency aid designated for health.
Downstream processing.Increasing expenditure would boost the sales of downstream processing as it helps in the extraction of a drug substance (DS) from natural sources, such as bacterial or animal cells, and the subsequent purification of the drug substance.
For instance, in March 2022, according to the 2021–2030 National Health Expenditure (NHE) report published by the Centers for Medicare & Medicaid Services, a US-based Department of Health and Human Services department, the annual increase in national health spending was predicted to average 5.1% between 2021 and 2030, reaching approximately $6.8 trillion by 2030. Additionally, throughout the period 2021–2030, Medicare expenditures are expected to expand at a 7.2% annual rate, while Medicaid spending is expected to grow at a 5.6% annual rate. Therefore, the increasing healthcare expenditure is driving the growth of the downstream processing market.
Product innovations are the key trends gaining popularity in the downstream processing market.Major companies operating in the downstream processing market are focused on developing new technological solutions to strengthen their position in the market.
For instance, in September 2022, Tosoh Bioscience LLC, a US-based global chemical and specialty materials company, launched the Octave BIO Multi-Column Chromatography (MCC) system, a holistic multi-column chromatography solution for downstream process intensification.It is an advanced multi-column chromatography system for process development and proof of concept that was specifically created for the intensification of biomolecule purification processes.
Wide-ranging requirements can be accommodated by the special modular design, which also makes it possible to take advantage of MCC's resin and buffer cost savings and other real advantages.
In January 2023, Astea Bio separations, a UK-based provider of bio separation and purification technologies, acquired Delta Precision Ltd. for an undisclosed amount. This acquisition will enable Astea Bio separations to strengthen and supplement its current portfolio of bioprocessing resins, reusable columns, and prepacked single-use columns by adding a broad range of high-performance chromatography columns for biomanufacturing. Delta Precision Ltd. is a UK-based manufacturer of advanced chromatography columns, and it produces products for various applications, including protein purification, vaccine production, and drug development.
The countries covered in the downstream processing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The downstream processing market research report is one of a series of new reports that provides downstream processing market statistics, including downstream processing industry global market size, regional shares, competitors with a downstream processing market share, detailed downstream processing market segments, market trends and opportunities, and any further data you may need to thrive in the downstream processing industry. This downstream processing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report:
About reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
MENAFN08062023004107003653ID1106411818
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.