At 15.0% CAGR, Asia Pacific Bioproduction Market is Projected to be Worth US$ 14,612.30 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific bioproduction market was valued at US$ 4,791.34 million in 2022 and is expected to reach US$ 14,612.30 million by 2030, registering a CAGR of 15.0% from 2022 to 2030. Patent expiry of blockbuster biologics and increasing prevalence of chronic diseases are among the critical factors attributed to drive the Asia Pacific bioproduction market growth.

Cardiovascular diseases (CVDs), neurological disorders, autoimmune disorders, and cancer are among the chronic diseases causing death and disabilities at a significant rate worldwide. As per the World Health Organization (WHO), CVDs are the number 1 cause of death globally, taking an estimated 17.9 million lives each year. Cancer is also among the leading causes of mortality worldwide, affecting a huge population; therefore, it acts as a huge financial burden on society. According to the WHO, in 2020, ~10 million deaths occurred due to cancer globally. However, growing research on developing effective treatments for the disease is positively affecting the market growth. Gene therapy and cell therapy are transforming the cancer treatment landscape; for example, Novartis' Kymriah is used to treat diffuse large B-cell lymphoma.

Moreover, recognition of biosimilars as efficacious and safe agents by patients, specialists, primary care clinicians, and other healthcare professionals is propelling the demand for biosimilars. In addition, biosimilars help improve life of millions of patients while saving billions of dollars of the healthcare system per year. They are effective and cost-effective options in treating many diseases, including chronic skin conditions and bowel diseases such as Crohn's disease, psoriasis, irritable bowel syndrome, and colitis; diabetes; autoimmune disease; cancer; kidney conditions; and arthritis.

As the prevalence of chronic diseases is increasing at a high rate, the demand for bioproduction in treating life-threatening illnesses has progressed rapidly over the last five years, thereby driving the bioproduction market.

On the contrary, high cost of cell therapy and biosimilar manufacturing hampers the growth of Asia Pacific bioproduction market.

Based on product, the Asia Pacific bioproduction market is segmented into biologics and biosimilars, vaccines, cell and gene therapies, nucleic acid therapeutics, and others. The biologics and biosimilars segment held 38.2% Asia Pacific bioproduction market share in 2022, amassing US$ 1,829.29 million. It is projected to garner US$ 5,223.08 million by 2030 to register 14.0% CAGR during 2022-2030.

In terms of application, the Asia Pacific bioproduction market is segmented into rheumatoid arthritis, hematological disorders, cancer, diabetes, cardiovascular diseases, and others. The cancer segment held 37.8% share of Asia Pacific bioproduction market in 2022, amassing US$ 1,813.27 million. It is anticipated to garner US$ 5,757.07 million by 2030 to expand at 15.5% CAGR during 2022-2030.

By equipment, the Asia Pacific bioproduction market is divided into upstream equipment, downstream equipment, bioreactors, and consumables and accessories. The consumables and accessories segment held 39.4% share of Asia Pacific bioproduction market in 2022, amassing US$ 1,888.96 million. It is projected to garner US$ 6,088.83 million by 2030 to expand at 15.8% CAGR from 2022 to 2030.

In terms of end user, the Asia Pacific bioproduction market is categorized into biopharmaceutical companies, contract manufacturing organizations, and others. The biopharmaceutical companies segment held 53.8% share of Asia Pacific bioproduction market in 2022, amassing US$ 2,577.74 million. It is projected to garner US$ 7,778.23 million by 2030 to expand at 14.8% CAGR from 2022 to 2030.

Based on country, the Asia Pacific bioproduction market is categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 30.0% share of Asia Pacific bioproduction market in 2022. It was assessed at US$ 1,437.88 million in 2022 and is likely to hit US$ 4,502.05 million by 2030, registering a CAGR of 15.3% during 2022-2030.

Key players operating in the Asia Pacific bioproduction market are Lonza Group AG, bbi-biotech GmbH, Danaher Corp, Sartorius AG, FUJIFILM Irvine Scientific Inc, Thermo Fisher Scientific Inc, Merck KGaA, F. Hoffmann-La Roche Ltd, and Bio-Rad Laboratories Inc., among others.

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