Single-use Bioprocessing Probes and Sensors Market Size, Share and Forecast 2022-2032
According to a recent Future Market Insights report, the Single-use Bioprocessing Probes and Sensors Market is currently valued at US$ 2.4 Bn and is expected to reach US$ 9.8 Bn by the end of 2032, by growing at the CAGR of 13.8%. During the forecast period, the global market is expected to offer an absolute dollar opportunity of around US$ 7.1 Bn, with the pH Sensors likely to lead the market with a CAGR of 16.5%.
Continuous technological advancements and the increased use of machine learning, automation, and big data solutions in several applications is likely to boost the market growth. These analytical models aid in the prediction of errors and the improvement of medical procedure accuracy. Furthermore, the market is expected to grow due to development in supply chain facilities that use cost and time effective technology.
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pH Sensors are the most important segment in terms of Sensor type categorization, and they are predicted to remain competitive with a CAGR of 16.5% over the forecasted period. Rising product penetration and usage rates are responsible for a large amount of category growth. Furthermore, the Upstream segments dominate the workflow categorization and are predicted to increase at a CAGR of 13.9% throughout the forecasted period. This occurred as a result of the growing use of single-use bioreactors and media bags in the upstream manufacturing process.
Key Takeaways from the Market Study
Global Single-use Bioprocessing Probes and Sensors Market is expected to reach the valuation of US$ 9.8 Bn by 2032.
The global market is expected to grow at a CAGR of 8% as compared to historical growth of just 11.4%.
During the period between 2022 and 2032, the market is expected to offer an absolute dollar opportunity of US$ 7.1 Bn.
The pH Sensors segment dominates the global market and is likely to grow at a CAGR of 5%.
Among the Workflow types, Upstream workflow dominates the segment with the expected CAGR of 9% during the forecasted period.
The U.S. market contributes significantly in the global market with around 29% Revenue through this segment is expected to grow at a CAGR of 12% during the forecasted period.
Continuous technological advancements and the increased use of Machine Learning, AI, Automation, and big data solutions in a number of applications are expected to boost the global market. These analytical models aid in the prediction of errors and the improvement of medical procedure accuracy, comments a Future Market Insights analyst.
Competitive Landscape
Market players in single-use bioprocessing probes and sensors are pursuing numerous strategic initiatives such as OEM alliances, market expansion, and new product development with improved technological complexity to promote their organic revenue growth and market presence. They are developing partnerships with key OEMs to build their single-use plants.
The key developments in Global Single-use Bioprocessing Probes and Sensors Market are:
In September 2020, Thermo Fisher Scientific inaugurated the new Bioprocessing Collaboration center in St. Louis to accelerate innovation and enhancing productivity of Biopharma companies.
In November 2021, Sartorius AG announced that it will expand its operation, production, innovation and storage facilities in France by investing 100 Mn Euros by 2025.
In March 2022, ABEC collaborated with EKF Life Science for expanding its Biomanufacturing operations in U.S. market.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Single-use Bioprocessing Probes and Sensors market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of Sensor Type (pH Sensor, Oxygen Sensor, Pressure Sensors, Temperature Sensors, Conductivity Sensors, Flow Meters & Sensors, Other Sensor Types), Workflow (Upstream & Downstream), End-use (Biopharmaceutical Manufacturer, Labs & Academic/ Clinical Research Institutes) across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).
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