Single-use Assemblies Market worth $6.3 billion by 2026 - Increase in Biopharmaceutical Sales is expected to Support Growth

(IT-NEWSWIRE.COM, June 08, 2021 ) The Single-use Assemblies Market research study involves the extensive use of secondary sources, directories, and databases to identify and collect information useful for this technical, market-oriented, and financial study of the global market. In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information and to assess market prospects.

Expected Revenue Surge: The global Single-use Assemblies Market is projected to reach USD 6.3 billion by 2026 from USD 2.2 billion in 2021, at a CAGR of 23.3% during the forecast period.

Opportunity: Emerging countries;

Emerging economies such as China, India, and Indonesia are expected to offer significant growth opportunities for players operating in the single-use assemblies market. This can be attributed to high growth in their respective pharmaceutical & biopharmaceutical sectors owing to the presence of less-stringent regulatory policies as well as low-cost and skilled labor. In addition, the high and growing incidence of chronic and infectious diseases, rising disposable income levels, improving access to healthcare services, and the implementation of favorable government policies are also attracting companies to these countries.

The growing presence of global as well as local pharmaceutical & biopharmaceutical companies in these countries is a major factor driving the demand for single-use assemblies. India, China, Korea, and Brazil are a hub for bioprocess outsourcing owing to their cost advantages and the talent pool offered by these countries. For instance, India has more than 175 US FDA-approved pharmaceutical manufacturing units that offer ~40% lower operational costs in comparison to its western counterparts. Also, according to the India Brand Equity Foundation, Indian companies received 304 Abbreviated New Drug Application (ANDA) approvals from the US FDA in 2017. Similarly, China is the second-largest pharmaceutical market globally, with total spending of USD 137 billion in 2018.

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On the basis of product,

The single-use assemblies market is segmented into bag assemblies, filtration assemblies, bottle assemblies, mixing system assemblies, and other products. The bag assemblies segment accounted for the largest market share in 2020. Single-use bag assemblies have broad applications in bioprocesses, including buffers and media preparation, cell culture, harvest & intermediate collection, sampling, freezing & thawing, and storage & transport. They enable critical liquid handling in biomanufacturing and eliminate the time and cost of additional cleaning-in-place and sterilization-in-place (CIP/SIP) system set-up, maintenance, and validation.

Based on solution;

The single-use assemblies market is segmented into standard solutions and customized solutions. The standard solutions segment accounted for a larger share of the market in 2020. The adoption of standard solutions is high in the pharmaceutical & biopharmaceutical industries due to the advantages these solutions offer, such as manufacturing process efficiency with reduced capital costs, improved flexibility with the use of pre-qualified components for building assemblies, reduced implementation time, and more flexibility with production planning.

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The Asia Pacific region is the fastest-growing region of the single-use assemblies market in 2020.

In 2020, the Asia Pacific region accounted for the fasted growing region of the market. This can be attributed to the growing biopharmaceutical market and biopharmaceutical manufacturing capabilities in Asian countries, rising life science research activities, increasing investments by pharmaceutical & biotechnology companies, and the growth of the contract R&D sector.

Prominent players operating in the single-use assemblies market are Thermo Fisher Scientific, Inc. (US), Sartorius Stedim Biotech (France), Danaher Corporation (US), Merck KGaA (Germany), Avantor, Inc. (US), and Saint-Gobain (France).

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Single-use Assemblies Market worth $6.3 billion by 2026 - Increase in Biopharmaceutical Sales is expected to Support Growth