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15 April, 2021, New York, USA – The global pharmaceutical and biotechnology machines market to grow at robust 5.89% CAGR during the 2021-2028 period. The market is expected to reach a promising valuation of USD 73 billion, rising from just 9 billion in 2009. The growing innovation and competition between the Asia Pacific, and North American players, along with streamlining of approvals from regulatory agencies, and growing demand for biotechnology solutions worldwide with advancements in gene cell, gene therapy, and other solutions will drive growth. The global pharmaceutical and biotechnology equipment market is a competitive, and innovative landscape, thanks to the increasing demand for gene cell therapy in treatment of chronic illnesses like cancer, diabetes, Alzheimer’s, among others. The chronic diseases remain the leading cause of fatalities worldwide, and costs as much as 60% of the burden experienced by healthcare agencies in the North America region. The growing demand for treatment of chronic illnesses, increasing adoption of therapies, and other supplementary treatment to provide relief to patients, and increased productivity of research due to technologies like cell culture, machine learning, and 3D printing will drive new growth avenues for key players in the global pharmaceutical and biotechnology machines market. Some key players in the global pharmaceutical and biotechnology machines market are SOL Group, Taiyo Nippon Sanso,Shenzhen, Sicgil India Limited, Gaofa,Shenwei Medical, and Praxair. Despite increasing competition, collaboration, and mergers also remain the key highlight among leading players, thanks to rising demand for innovation, and increased need to drive patents worldwide.
The machines in the biotechnology and pharmaceutical industry are largely used for the process of separation. The sepration process is essential to differentiate elements during research, and apply them with the pure ingredients in the process of application, and production. The process separation is critical for chromatography, cell culture, identification of ingredients, and manufacturing of drugs. The recombinant protein purification is also becoming essential in the global pharmaceutical and biotechnology machines market as therapies like gene therapy are becoming crucial in the treatment of chronic illnesses. These processes can manipulate and modify organisms, usually at molecular level to provide a robust identification, application, and production for a wide variety of biotechnology processes.
Oxygen Will Remain Leading Driver Among Products as Coronavirus Continues to Loom Large
The coronavirus pandemic continues to loom large on a global stage, as various private and public entities continue to find the right tools to find new solutions to tackle the pandemic. This has led to robust demand, as public funds like Melinda and Gates foundation have contributed significantly to find new vaccines, and private entities like Pfizer are on the lookout for solutions like pills which can prevent the spread of the pandemic. Furthermore, distribution channels like hospitals are also on the lookout for promising solutions to tackle the growing shortage of oxygen for patients, while using semi-ventilators, as the shortage continues to widen. Furthermore, regions in the US have also witnessed freezing of pipelines expanding the shortage of oxygen further to drive further demand of oxygen processing machines. The rising demand for oxygen in both clinical research, and solutions to tackle on-ground reality remain major drivers in the global pharmaceutical and biotechnology machines market. The segment registered growth in 2018, as it registered the highest total revenues surpassing nitrous oxide, medical air, among other products. It will likely hold its lead, thanks to direct need arised due to the coronavirus pandemic. The medical air will remain the second-strongest segment, as pipelines freeze across cold regions, to make way for more growth for supply of medical air.
Labs and Clinics Will Remain Key End-Applications During the Forecast Period
The growing collaboration between new companies, and increased enthusiasm among new regions to drive innovation in the pharmaceutical area remains the key driver of growth in the global pharmaceutical and biotechnology machines market. The rising innovation in the pharmaceutical area is also led by growing demand for treatment of chronic illnesses. These diseases like cancer, diabetes, and cardiovascular diseases remain the leading cause of fatalities globally. Moreover, these result in over USD 400 billion in yearly costs to the US government in healthcare expenditure. The growing demand for effective, and secure solutions to tackle chronic illnesses, the growing efficacy of chromatomy in produce development, and rising efficacy of promising solutions like machine learning among others will remain key trends for growth in the global pharmaceutical and biotechnology machines market. The promising innovation in the field is on display, as increasing support of government agencies to tackle promising challenges like rare diseases, and increased collaboration with private institutions like universities, among others will drive major growth for players in the global pharmaceutical and biotechnology market. The increased drive for innovation has led to increased collaboration in regions like North America, wherein more technology companies are at the forefront of medical innovation than ever before.
North America will Remain the Leading Region, thanks to Growing Innovation
The rising innovation related to healthcare in the American pharmaceutical, and biotechnology landscape remains astounding. The growing collaboration between universities, and private entities, increased collaboration between players in new regions, and increasing demand for innovation due to expiry of long-held patents will be key drivers of growth in the region. furthermore, agencies like the Food and Drug Administration or the FDA has also streamlined the process of approvals, which has resulted in not only speedier approvals, but also increased scope for marketing during the approval process, previously not possible. The similar streamlining is also available in China, which is also witnessing a growing demand for product approvals, and rising investment in research. The rising interest in the global pharmaceutical and biotechnology machines market due to advents like machine learning, 3D printing, and AI will also remain key drivers of growth for the global pharmaceutical and biotechnology machines market in the near future.
Pharmaceutical and Biotechnology Machines Market Report is Segmented as Below:
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