According to FutureWise analysis the market for continuous bioprocessing in 2023 is US$ 0.16 billion, and is expected to reach US$ 0.88 billion by 2031 at a CAGR of 23.50%.
The rising insistence for biopharmaceutical products, development of advanced technologies pertaining to continuous bioprocessing, bolstered support from government for manufacturing biopharmaceuticals are some of the driving factors contributing to the growth of the market. The consistent production of biopharmaceuticals on a commercial and clinical level with the use of flexible facilities is called continuous bioprocessing.
The continuous bioprocessing market growth is primarily driven by increased development of novel technologies, rising insistence for biopharmaceuticals, increased support from the government for manufacturing biopharmaceuticals. There has been a significant escalation in the occurrence of chronic disorders across the world. As per the American Pharmaceutical Review, the insistence for antibody products has escalated and with the biologic license application, the antibody products account for over 65% of all the biopharmaceutical products. Furthermore, as per the journal, over 80% of the products are in phase 3 of the development stage while over 90% of products are currently in phase 1 and phase 2 of development.
Moreover, with complexities occurring in clinical trials, the financial assistance provided by the government for research and development activities has increased significantly. For instance, the government of India announced the ‘Pharma Vision 2020’ in 2018 and this aims at reducing the time required for approving new sites, thereby escalating the capacity of producing biopharmaceuticals. Additionally, the government has decided to completely favour FDI for the pharmaceutical industry resulting in the rise of collaborations between the government and the pharmaceutical giants. Furthermore, The National Institute of Health of the United States partnered with over 10 biopharma companies in 2017 to announce the ‘Partnership for Accelerating Cancer Therapies’, which is a private-public research collaboration set for five years. This collaboration shall help in developing immunotherapies for cancer with a total investment of over USD 200 million. Moreover, Japan’s Ministry of Health, Labour and Welfare in 2015 announced the ‘Sakigake’ scheme that aimed at accelerating the launch time for novel drugs. However, high contamination risks pertaining to continuous processing, operational complexities related to continuous processing and a lack of professionals that work into bioprocessing are some of the factors restraining the market growth.