At 17.0% CAGR, the South & Central America Bioprocess Technology Market is projected to be worth US$ 3,361.13 million by 2028, says Business Market Insights

According to Business Market Insights research, the South & Central America bioprocess technology market was valued at US$ 1,531.47 million in 2023 and is expected to reach US$ 3,361.13 million by 2028, registering a CAGR of 17.0% from 2023 to 2028. Growing R&D spendings to introduce new drug compounds and introducing advanced bioprocess technologies are the critical factors attributed to the South & Central America bioprocess technology market expansion.               

Pharmaceutical companies are spending huge sum in R&D to introduce new molecules with enhanced medical and commercial potency for various therapeutic applications. Novartis, Roche, Johnson & Johnson, Merck & Co, GlaxoSmithKline, and Pfizer are among the world’s Top 10 companies with high R&D investments. The patent expiry of blockbuster molecules, a limited number of potential products in the pipeline, and the increasing demand for biologics have driven companies to adopt novel technologies, such as single-use bioprocessing technologies, in order to facilitate a quick cost-effective turnaround process for products. Single-use component and system manufacturers typically produce and assemble products in clean rooms to ensure they do not introduce harmful particulates and endotoxins into a bioprocess. Thus, high investments in R&D are made to introduce new drug compounds and aid in the development of bioprocessing technologies; these technologies support emerging biomanufacturing capabilities and related interoperability of raw materials, bioreactors, and unit operations.  

On the contrary, stringent regulatory policies hurdles the growth of South & Central America bioprocess technology market.

Based on type, the South & Central America bioprocess technology market is segmented into cell culture media bioprocess, chromatography bioprocess, consumables & accessories, and others. The consumables & accessories segment held 44.7% share of South & Central America bioprocess technology market in 2023, amassing US$ 684.22 million. It is projected to garner US$ 1,494.98 million by 2028 to expand at 16.9% CAGR during 2023–2028.

Based on modality, the South & Central America bioprocess technology market is bifurcated into single use and multiple use. The single use segment held 74.9% share of South & Central America bioprocess technology market in 2023, amassing US$ 1,147.79 million. It is projected to garner US$ 2,470.63 million by 2028 to expand at 16.6% CAGR during 2023–2028.

Based on end-use, the South & Central America bioprocess technology market is segmented into academic & medical institutions, biopharmaceutical companies, research laboratories, and others. The biopharmaceutical companies segment held 52.2% share of South & Central America Bioprocess technology market in 2023, amassing US$ 799.19 million. It is projected to garner US$ 1,738.94 million by 2028 to expand at 16.8% CAGR during 2023–2028.  

Based on country, the South & Central America bioprocess technology market is segmented into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that the Rest of South & Central America captured 37.9% share of South & Central America bioprocess technology market in 2023. It was assessed at US$ 580.58 million in 2023 and is likely to hit US$ 1,254.04 million by 2028, exhibiting a CAGR of 16.7% during the forecast period.  

Key players profiled in the South & Central America bioprocess technology market report are Danaher Corp; Eppendorf SE; Lonza Group AG; Merck KGaA; Repligen Corp; Sartorius AG; and Thermo Fisher Scientific Inc, among others.

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