High Throughput Process Development Market: Demand for Consumables and Reagents to Remain Strong
Global high throughput process development market is anticipated to go through a remarkable change due to increased attention on developing new items. According to a report by Transparency Market Research, the leading companies in the market are expected to experience tough competition in the coming years. To fortify their position in the market, these companies are engaging in associations, mergers, acquisitions, and key joint efforts.
Some of the leading companies in the global high throughput process development market are Tecan Group Ltd., Bio-Rad Laboratories Inc., PerkinElmer Inc., Eppendorf AG, Danaher Corp., Thermo Fisher Scientific Inc., GE Healthcare. Sartorius Stedim Biotech, Merck Millipore, and Agilent Technologies Inc.
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The global high throughput process development market is anticipated to rise at a remarkable CAGR of 11.60% over the forecast period of 2017 to 2022. The market value of high throughput process was US$10.59 bn during 2017 and is expected to increase to US$18.35 bn by the end of forecast period. According to end users, the global high throughput market is leading by contract manufacturers and is expected to dominate the market during the forecast period. Geographically, North America is leading the market among all other regions due to advancement in development.
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Demand in Consumable and Reagents Due to Rise in Outsourcing
The rise in demand for high throughput process development from contract makers and biopharmaceutical producers is due to rise in demand at the client end. Rise in demand for administration, programming, instruments, consumables, and reagents from shoppers throughout the world is expected to boost the market in the coming years. However, demand for consumable and reagents is comparatively higher than other high throughput process development items. This will be the leading factor for the rise in the market. The increase in growth of biopharmaceutical sector and pressure for decrease in manufacturing cost is influencing the growth of market.
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High throughput is being adopted globally due to its knowledge of enhancing processes and reduced development time for designing scalable and strong processes. High throughput tools are being adopted for performing media and issue chromatography by parallel screening so as to save time for process developers. This has increased its demand in the market. Rise in trend of outsourcing has led to emergence of contract manufacturers as the leading end user in the market. High throughput process development is rising in the developing economies because government is supporting infrastructure development to expand private and public partnership. There is also rise in trend for outsourcing in many countries. Increased expenditure for research and development is also fueling the market growth. Rise in manufacturing of improved and quality biological material and decrease in timeline for product development will also boost the market during the forecast period.
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Lack of Income in Cost Conscious Countries to Hamper Growth
High throughput process development market might have to face restrain in growth due to absence of adequate foundation offices. The expensiveness of innovation and hardware are hard to afford by cost conscious underdeveloped or developing countries during the forecast period. Lack in increased exceptional stimulus in organizations around the world are making the growth of market sluggish.
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