An Increase In Demand For Biopharmaceuticals Is Expected To Drive The Single-Use Assemblies Market As Per The Business Research Company's Single-Use Assemblies Global Market Report 2022
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LONDON, Dec. 15, 2022 (GLOBE NEWSWIRE) -- According to The Business Research Company’s research on the single-use assemblies market, an increase in demand for biopharmaceuticals and a rise in life science R&D are expected to propel the growth of single-use assemblies. Biopharmaceuticals are sophisticated medicines produced from living cells or organisms and are frequently created using cutting-edge biotechnological techniques. Single-Use systems are utilized in biopharmaceutical manufacturing. The Increased lie science R&D spending is also a contributor to the development of new drugs.
For instance, according to the International Federation of Pharmaceutical Manufacturers and Association (IFPMA) a Switzerland-based trade association of pharmaceutical companies, in 2020, there is an increase in the development of drugs in specific disease areas such as for cancer- 2740 new drugs were developed. For Immunology 1535 new drugs were developed and for Infectious diseases, 1213 new drugs were developed. As of 2021, there are new 50 medicines and vaccines are developed for HIV. Further, according to the Association of Medical Research Charities (AMRC), a UK-based association of medical and health research charities increased its R&D spending from £1.3 billion to £1.9 billion in 2020. Also, UK foreign direct investment in life sciences reached £510 million. Therefore, an increase in demand for biopharmaceuticals and a rise in life science R&D are driving the single-use assemblies market growth.
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The global single-use assemblies market size is expected to grow from $3.58 billion in 2021 to $4.11 billion in 2022 at a compound annual growth rate (CAGR) of 14.7%. 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, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The single-use assemblies market share is expected to grow to $8.73 billion in 2026 at a compound annual growth rate (CAGR) of 20.7%.
Technological advancement is a key trend gaining popularity in the single-use assemblies market. Major companies operating in the market are introducing new technologies such as the Thermo Scientific HyPeak chromatography system which is a single-use chromatography system to sustain their position in the market. For instance, in October 2021, Thermo Fisher Scientific, a US-based manufacturer of scientific instruments, launched the Thermo Scientific HyPeak chromatography system, which is a single-use chromatography system. That helps to flows ranging from one liter per hour to 1980 liters per hour. That had unique features like zero dead-leg and a ring flush valve manifold that helps to improve product yield and operation.
Major players in the single-use assemblies market are Avantor Inc., Corning Incorporated, Danaher Corporation, Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Saint-Gobain, Parker Hannifin Corporation, Repligen Corporation, Newage Industries, Antylia Scientific, Cole Parmer, Entegris Inc, GE Healthcare, and Pall Corporation.
The global single use assemblies market is segmented by product type into filtration assemblies, bag assemblies, bottle assemblies, mixing system assemblies; by solution into standard solutions, customized solutions; by application into cell culture and mixing, filtration, storage, sampling, fill-finish application; by end user into biopharmaceutical and pharmaceutical companies, contract research and contract manufacturing organizations, academic and research institutes.
North America was the largest region in the single-use assemblies market in 2021. The regions covered in single-use assemblies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Single-Use Assemblies Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide single-use assemblies market forecast size and growth, single-use assemblies market segments, single-use assemblies market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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