The single-use assemblies market is expected to grow from USD 805 million in 2019 to USD 1,825 million by 2024, at a CAGR of 16.5%
NEW YORK, Dec. 11, 2019 /PRNewswire/ --
Increasing demand for biopharmaceuticals and rising life science R&D expenditure in biopharmaceuticals is expected to drive the overall growth of the single-use assemblies market.
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The single-use assemblies market is expected to grow from USD 805 million in 2019 to USD 1,825 million by 2024, at a CAGR of 16.5% during the forecast period. The single-use assemblies market is driven primarily by the increase in demand for biopharmaceuticals and rising expenditure for R&D in life science. However, the issues related to extractables and leachables are limiting market growth.
Bag assemblies segment is expected to grow at the highest CAGR during the forecast period.
Based on product, the market is broadly segmented into bag assemblies, filtration assemblies, bottle assemblies, mixing system assemblies, and other products. The bag assembly segment is projected to grow at the highest CAGR during the forecast period as it enables critical liquid handling in biomanufacturing and eliminates the time & cost of additional cleaning and sterilization, system set-up, maintenance, and validation.
Filtration segment to grow at the highest CAGR during the forecast period.
The single-use assemblies market, by the applications, has been categorized into cell culture and mixing, filtration, storage, sampling, fill-finish application and other applications (aseptic transfer and fluid management).The filtration segment is projected to register the highest growth rate during the forecast period.
However, the filtration segment is expected to be the fastest-growing segment owing to economic, safety and time-to-market advantages.
Asia Pacific region to account for the largest share of the global single-use assemblies market in 2019.
Asia Pacific is estimated to account for the largest share of the global single-use assemblies market in 2019. Factors such as the increasing demand for generic drugs and biosimilars, significant investments by biopharmaceutical companies and CMOs in emerging Asia Pacific countries, and the growing focus on healthcare modernization, and demand for low-cost medicines are supporting the growth of the Asia Pacific single-use assemblies market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the single-use assemblies market.
• By Respondent Type: Supply Side: 67%, Demand Side: 33%
• By Designation: C-level Executives: 25%, Directors: 18%, and Others: 57%
• By Region: North America: 50%, Europe: 20%, APAC: 20%, and RoW: 10%
The single-use assemblies market comprises major players such as Sartorius Stedim Biotech (France), Thermo Fisher Scientific (US), Danaher (US), Merck Millipore (Germany)), and GE Healthcare (US). The study includes an in-depth competitive analysis of these key players in the single-use assemblies market, along with their company profiles, recent developments, and key market strategies.
Research Coverage:
The market study covers the single-use assemblies market across various segments.It aims at estimating the market size and the growth potential of this market across different segments, based on the product, solution, application, end-user, and region.
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to their product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in this market and provide information on the closest approximations of the revenue numbers for the overall single-use assemblies market and its subsegments.This report will help the stakeholders to understand the competitive landscape, to gain more insights to better position their businesses, and to plan suitable go-to-market strategies.
The report will also help the stakeholders to understand the pulse of the market and provide information on key market drivers, restraints, opportunities, and challenges.
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