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| Global Biopharma Buffer Market |
The global Biopharma Buffer Market is estimated to be valued at US$ 3.68 Bn in 2023 and is expected to
exhibit a CAGR of 7.1% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Biopharma buffers are solutions used to maintain a stable pH level in processes
related to biopharmaceutical products such as cell culture media, purification,
storage, and formulation. They help in providing optimal conditions required
for growth and development of cells in cell culture media and stability of biopharmaceutical
proteins. With growing demand and application of biopharmaceuticals globally,
their production, storage, transportation also needs efficient buffering
solutions to maintain integrity and stability of final products.
Market key trends:
One of the key trends witnessed in the global biopharma buffer market is the
growing adoption of single-use technologies. Biopharmaceutical manufacturers
are increasingly preferring single-use technologies over traditional stainless
steel based manufacturing systems to reduce operational costs and risk of
product contamination. Single-use solutions require efficient buffering from
beginning to the end to maintain products stability. This is driving demand for
customized buffer formulations suited for single-use bio production lines.
Porter’s Analysis
Threat of new entrants: Low barrier to entry in biopharma buffer market.
However, established players and availability of substitutes limit threat.
Bargaining power of buyers: Large pharmaceutical companies have significant
bargaining power due to high demand.
Bargaining power of suppliers: Few major suppliers exist with differentiated
products limiting their bargaining power.
Threat of new substitutes: Low threat as buffers serve critical functions that
are difficult to substitute.
Competitive rivalry: Intense competition among major players to gain market
share through product innovation and capacity expansion.
Key Takeaways
The Global
Biopharma Buffer Market is expected to witness high growth, exhibiting CAGR of 7.1% over the forecast period
2023 to 2030, due to increasing R&D investment in biopharmaceutical
industry. North America dominated the market in 2023 with over 35% share owing
to presence of large biopharmaceutical companies in the region.
Regional analysis
Europe is expected to exhibit lucrative growth during the forecast period
supported by increasing funding for life science research. Presence of major
players and adoption of advanced technologies will contribute to the regional
market growth.
Key players
Key players operating in the biopharma buffer market are Merck KGaA, Thermo
Fisher Scientific Inc., Avantor, Inc., Lonza Group Ltd., Bio-Rad Laboratories,
Inc., Sartorius AG, Corning Inc., Becton, Dickinson and Company, GE Healthcare,
Promega Corporation. Merck KGaA and Thermo Fisher Scientific Inc. collectively
accounted for over 30% of global revenue share in 2023.
Read More: https://www.trendingwebwire.com/biopharma-buffer-market-analysis/