Single-use Bioprocessing Probes & Sensors Market Is Expected To Reach $ 6.31 Billion By 2030
San Francisco, 6 Sep 2024: The Report Single-use Bioprocessing Probes & Sensors Market Size, Share & Trends Analysis Report By Type (pH Sensors), By Workflow (Upstream, Downstream), By End Use, By Region, And Segment Forecasts, 2024 - 2030
The global single-use bioprocessing probes and sensors market size is expected to reach USD 6.31 billion by 2030, according to a new report by Grand View Research, Inc. The market is estimated to register a CAGR of 11.32% from 2024 to 2030. The key factors attributed to the growth of the market include production expansion by players and reduced environmental impact by using single-use bioprocessing probes and sensors. Moreover, the presence of several key companies supports market growth. The COVID-19 pandemic has further fueled the market growth. During the pandemic, the industry witnessed a supply shortage of several commodities. Suppliers increased the capacity of the single-use bioprocessing sector to cater to the increasing demand and balance the shortage of such commodities.
For instance, in September 2021, Thermo Fisher Scientific Inc., a major supplier in the industry, revealed a plan to set up a manufacturing facility in Nashville to produce products in single-use technologies (SUT). This facility is expected to be one of the world's largest single-use technology manufacturing facilities. Such an increase in production and development capabilities in the industry during the pandemic supports market growth. Moreover, single-use technology reduces water and energy consumption associated with cleaning and sterilization processes. They generate less waste than traditional reusable systems, aligning with the increasing focus on sustainability in the biopharmaceutical industry. In addition, single-use biotechnology systems, made up of plastics, are mostly recyclable and significantly decrease the environmental impact.
On the other hand, traditional biotechnology plants use large amounts of energy and water. Thus, the sustainability associated with single-use systems is expected to be preferred by biopharmaceutical manufacturers, which will boost market growth. Several players provide advanced and effective products. Thus, the wide adoption of advanced services and products is also expected to boost product demand. Many companies implement strategies, such as product launches, geographic expansions, strategic alliances, and M&As to enhance product portfolios and build positive customer positioning. For instance, in May 2022, Dover announced the acquisition of Malema Engineering Corp. This acquisition was aimed at expanding the single-use production offering of Dover. Such strategy implementation by players to gain a competitive edge is anticipated to support market growth over the forecast period.
Access Research Report of Single-use Bioprocessing Probes & Sensors Market @ https://www.grandviewresearch.com/industry-analysis/single-use-bioprocessing-probes-sensors-market
Single-use Bioprocessing Probes & Sensors Market Report Highlights
- The pH sensors segment held the largest market share of 20.10% in 2023. This segment is also anticipated to observe growth at the fastest CAGR over the forecast period.
- The upstream segment dominated the market in terms of revenue in 2023 with a market share of 73.46% and is expected to grow at the fastest CAGR from 2024 to 2030.
- The biopharmaceutical & pharmaceutical companies segment held the largest market share of 41.66% in 2023. Pharmaceutical & biopharmaceutical companies are witnessing an increasing shift toward biologics and personalized medicine.
- North America dominated the market and accounted for a 42.81% share in 2023. This can be attributed to the increasing adoption of new technologies, such as single-use technology, coupled with the presence of major biopharmaceutical and biotechnology companies.
Single-use Bioprocessing Probes & Sensors Market Report Scope
Report Attribute | Details |
Market size value in 2024 | USD 3.32 billion |
Revenue forecast in 2030 | USD 6.31 billion |
Growth Rate | CAGR of 11.32% from 2024 to 2030 |
Actual data | 2018 - 2023 |
Forecast period | 2024 - 2030 |
List of Key Players in the Single-use Bioprocessing Probes And Sensors Market
- Hamilton Company
- Thermo Fisher Scientific Inc.
- Parker-Hannifin Corporation
- Danaher Corporation
- Mettler-Toledo International Inc. (PendoTECH)
- PreSens Precision Sensing GmbH
- Sartorius AG
- Broadley-James Corporation
- Saint-Gobain (Equflow)
- Dover Corporation
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About Grand View Research
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
For More Information: https://www.grandviewresearch.com/horizon
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