Posted 2/23/2024, 11:30:00 PM
Biopharma Market Booming, Expected to Reach $122B by 2034 on Increased Demand and Adoption of Single-Use Technologies
- Biopharmaceutical processing equipment consumables market size expected to reach $122.1 billion by 2034, growing at a CAGR of 10.10%
- Driven by increasing demand for biopharmaceuticals like vaccines, monoclonal antibodies, etc.
- Adoption of single-use technologies rising due to flexibility, cost-effectiveness, reduced contamination risk
- North America expected to witness fastest growth rate over forecast period
- Ensuring quality and performance critical for safety and efficacy of biopharmaceuticals