Global Single-Use Assemblies Market
Global Single-Use Assemblies Market to Grow at a CAGR of 18.9% during Forecast Period
Published | 20 October 2022
Global Single-Use Assemblies market is growing at a high CAGR due to the rising use of Single-Use Assemblies to lower the danger of cross-contamination and conserve energy and water. Additionally, it is anticipated that Single-Use Assemblies would expand significantly due to the expanding public-private support for these operations and the simple development of bioprocessing equipment. Over the next few years, the market for single-use bodies is anticipated to rise in response to the rising need for generic medications and biosimilars.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Single-Use Assemblies market was worth USD 2.2 billion in the year 2021. The market is projected to grow at a CAGR of 18.9%, earning revenues of around USD 7.4 billion by the end of 2028. The Global Single-Use Assemblies market is booming due to the rising use of Single-Use Assemblies to lower the danger of cross-contamination and conserve energy and water. Additionally, it is anticipated that Single-Use Assemblies will expand significantly due to the expanding public-private support for these operations and the simple development of bioprocessing equipment. Over the next few years, the market for single-use bodies is anticipated to rise in response to the rising need for generic medications and biosimilars.
Advantages Of Single-Use Assemblies And Increasing R&D Investment Is Causing The Market To Expand
Single-Use Assemblies have a number of benefits over conventional methods. Traditional methods frequently result in cross-contamination and the possibility of leaking. Production delays result from improperly made connections between the various components. Batches that are lost as a result of a leak or a threat to the process's product integrity can be extremely expensive for many end customers. Single-Use Assemblies, on the other hand, offer a lower chance of cross-contamination and leaks, require less maintenance and downtime, retain quality and documentation control and are simpler to deploy, consume less water and energy, and boost efficiency.
The market for single-use assembly is expanding as a result of increased R&D spending by biopharmaceutical companies. Spending on R&D and the release of new medications have both increased during the past 20 years. For instance, the pharmaceutical industry spent USD 83 billion on R&D in 2019, according to the Congressional Budget Office, a federal organization under the legislative department of the United States government that provides budget and economic information to Congress. As a result, the benefits of single-use assembly over conventional procedures and enhanced biopharmaceutical R&D activities fuel market expansion.
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Bio pharmaceutical & Pharmaceutical Companies Segment Accounted For The Largest Share Of The Single-Use Assemblies Market
On the basis of end users market is divided into biopharmaceutical and pharmaceutical firms, academic and research institutions, and contract research & manufacturing firms (CROs & CMOs). Biopharmaceutical and pharmaceutical companies frequently use Single-Use Assemblies and commodities such as aseptic bottle transfers, single-use manifolds, and special tube kits to simplify the upstream procedure. Pharmaceutical and biopharmaceutical companies have greatly raised the amount of money they spend on R&D. Pharmaceutical companies spent close to twice as much on R&D in 2019 as they did in 2000, based on the Congressional Budget Office, a federal office in the United States.
A total of 59 more new medications were approved by the Food and Drug Administration (FDA) in 2019 than in the year 2018's average of 38, which is a 60% increase. Many of the medications that have been approved in recent years fall under the category of "specialty pharmaceuticals." Specialty medications may require particular patient management or monitoring when used to treat chronic, complex, or rare conditions. Biologics (big-molecule drugs based on living cell lines), which are expensive to develop, challenging to replicate, and have a high price tag, make up a substantial portion of specialty medications.
Consequently, low-cost biologics development is receiving more attention from biopharmaceutical companies. For example, Indian biopharmaceutical companies lead the field, in accordance with a report released by the Department of Biotechnology in 2019 with over 98 biosimilars authorized as of September 2019. Single-Use Assemblies have several uses in all phases of manufacturing and are increasingly in demand as the output of biologics and biosimilars rises.
North America Dominated The Single-Use Assembly Market In 2021
The biggest market share for Single-Use Assemblies was held by North America. Its well-established biopharmaceutical industry, the extensive availability of Single-Use Assemblies given by regional market leaders, and the growing manufacture of biologics and biosimilars in the region may all be credited for North America's significant market share. The domestic pharmaceutical development and commercialization environment in the US are among the most hospitable in the world, with few market barriers. The advanced pharmaceutical and biopharmaceutical industries are more likely to provide the largest proportion of the single-use assembly market due to the favorable local environment.
Impact Of COVID-19 On Global Single-Use Assemblies Market
COVID-19 had a considerable impact on the market for single-use assembly as COVID vaccine research operations increased adopting single-use technology. In order to produce a vaccine that required Single-Use Assemblies, many businesses were concentrating on R&D operations. As a result, the market for Single-Use Assemblies started growing as providers struggled to meet demand during the pandemic. New remedies are being developed by pharmaceutical firms and single-use assembly market participants as a result of the COVID-19 outbreak. Single-use approaches are becoming more widely accepted in COVID-19 research, which benefits the market's growth.
The key players operating in the global Single-Use Assemblies market are Thermo Fisher Scientific, Inc., Pall Corporation, Sartorius Stedim Biotech, Danaher Corporation, Merck KGaA, Parker Hannifin Corp, Avantor, Inc., Saint-Gobain, Corning Incorporate, Repligen Corporation, Cole Parmer and other prominent players. There are numerous significant participants in the highly fragmented single-use assembly industry. A select number of big firms presently control the majority of the market in terms of market share.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Single-Use Assemblies market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Single-Use Assemblies market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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