Product ID: SQMIG35H2109
Report ID:
SQMIG35H2109 |
Region:
Global |
Published Date: March, 2024
Pages:
219
|
Tables:
67 |
Figures:
77
Global Downstream Processing Market size was valued at USD 30.98 billion in 2022 and is poised to grow from USD 35.69 billion in 2023 to USD 110.79 billion by 2031, at a CAGR of 15.21% during the forecast period (2024-2031).
Expanding bioprocessing capacity, greater single-use technology acceptance in bioprocessing, rising R&D spending in pharmaceutical companies, and rising biopharmaceutical market demand are the primary factors driving the global market demand for biopharmaceuticals. For instance, the biopharmaceuticals sector of the global market is consistently growing.
Merck and Wuxi National High-tech Industrial Development Zone reached a collaboration agreement in April 2022. The scale of Merck's manufacturing plant in Wuxi, Jiangsu Province, China, will be increased in compliance with the terms of the agreement. The production of commercial enzymes, flavourings, and natural perfumes also depends on it.
US Downstream Processing Market is poised to grow at a sustainable CAGR for the next forecast year.
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Product ID: SQMIG35H2109