The biopharma buffer market is estimated to be valued at US$ 3.68 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The biopharma buffer market consists of solutions that maintain a stable pH level in pharmaceutical products during processing, packaging, and storage. Biopharma buffer solutions are used extensively during various biopharmaceutical production processes such as fermentation, buffer exchange, sample preparation, and purification. Some common applications of biopharma buffers include cell culture media preparation, vaccine production, monoclonal antibody manufacturing, and diagnostics.
Market Dynamics:
The growth of the biopharma buffer market is majorly driven by increasing demand for biopharmaceuticals and rising production of monoclonal antibodies. According to Coherent Market Insights analysis, rising prevalence of chronic diseases such as cancer is prompting the development of novel biopharmaceutical drugs for treatment. This in turn is augmenting the demand for biopharma buffer solutions. In addition, advancements in bioprocessing technologies for large-scale production have increased the efficiency of buffer solutions in downstream processing of biologics. Growing biosimilar drug approvals is another factor fueling the adoption of biopharma buffer solutions.
SWOT Analysis (Strength: explain in three sentence explanation; Weakness: explain two weakness in three sentence long explanation; Opportunity: explain two opportunity in three sentence long explanation; Threats: explain two threats two sentence explanation).
Strength: Global Biopharma Buffer Market has strong demand as buffers are an integral part of biopharmaceutical manufacturing process. Wide applications of buffers in downstream as well as upstream processes boost the market growth. Continuous technological advancements help buffers improve stability and performance of biologics.
Weakness: High dependency on single source manufacturing increases supply chain risks. Stringent regulatory standards add to design complexities of developing novel buffers.
Opportunity: Rising contract manufacturing outsourcing trends open growth avenues. Expanding biopharma industry and growing clinical trial activities present lucrative opportunities.
Threats: Threat from alternative separation technologies. Currency fluctuations and economic slowdowns impact market adversely.
Key Takeaways
The global Biopharma Buffer Market is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period, due to increasing demand for biologics. Asia Pacific region is projected to register the fastest growth during the analysis period on account of rising penetration of biologics in disease management.
Regional analysis
The Asia Pacific region is expected to witness the highest growth in the biopharma buffer market owing to increasing contract manufacturing activities, favorable government policies, and expanding contract research organization (CRO) facilities. China dominates the Asia Pacific biopharma buffer market driven by low-cost manufacturing advantage. North America is projected to retain its leading position in the global market owing to increasing R&D investments and proximity of key market players.
Key players
Key players operating in the biopharma buffer market are Merck KGaA, Thermo Fisher Scientific Inc., Avantor, Inc., Lonza Group Ltd., Bio-Rad Laboratories, Inc., Sartorius AG, Corning Inc., Becton, Dickinson and Company, GE Healthcare, Promega Corporation. Merck KGaA and Thermo Fisher Scientific Inc. collectively hold over 30% of the global market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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