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(Health-NewsWire.Net, May 27, 2021 ) The global high throughput process development market is expected to reach USD 415.5 Million in 2021 from USD 162.9 Million in 2015, at a CAGR of 14.4% during the forecast period. In the current market scenario, there is a growing demand for high throughput process development products. Growth in the global market is mainly driven by the increasing R&D spending, technological advancements in process development, growth in the biopharmaceutical industry, and growing pressure to lower the cost of manufacturing. However, factors such as the high cost of technology and equipment in this market and lack of adequate infrastructural facilities are restraining the growth of this market to a certain extent.
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The monoclonal antibodies segment held the largest share of the global market in 2016
By molecule type, the high throughput process development market is classified into monoclonal antibodies and others (recombinant pro-insulin, polysaccharide vaccines, recombinant Green Fluorescent Protein (rGFP), fusion proteins, and interferon á-2a). The monoclonal antibodies segment accounted for the largest share of the global market in 2016. The large share of this segment is attributed to the increasing adoption of targeted immunotherapy and the increasing number of FDA-cleared therapeutic monoclonal antibodies.
The biopharmaceutical companies segment accounted for the largest share of the high throughput process development market during the forecast period
Based on end users, the high throughput process development market is segmented into biopharmaceutical, contract research organizations, and academic research institutes. Biopharmaceutical companies accounted for the largest share of the global high throughput process development market in 2016. Large R&D investments by biotechnology companies accelerate the drug manufacturing process and the increasing pressure from regulatory authorities to lower the cost of production are the two major factors driving the growth of the biopharmaceutical end-user segment.
North America to dominate the high throughput process development market during the forecast period”
In 2016, North America accounted for the largest share of the global high throughput process development market and it is also projected to register the highest CAGR during the forecast period. Factors such as the increase in R&D spending by pharmaceutical and biopharmaceutical companies, growing demand for technical tools for improving the production quality of biological materials, collective pressure towards lowering the cost of manufacturing biological materials, rising demand for reducing product development timelines, and the presence of major players in this region are driving the growth of the North American high throughput process development market.
Market Players
The high throughput process development market is dominated by established players such as Danaher (US), GE Healthcare (US), Agilent (US), Merck Millipore (Germany), and Thermo Fisher Scientific (US).
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