Single-Use Bioprocessing Sensors and Probes Market to Breach Billion Dollar Valuation by 2025

Nov 13, 2017 - (Newswire)

A fresh study by Transparency Market Research (TMR) has detected that the competition in the global market for single-use bioprocessing sensors and probes market is divided among a small pool of prominent players, such as Sartorius AG, Thermo Fisher Scientific Inc., Parket Hannifin Corporation, and Hamilton Company. As a general thumb rule, most of these companies concentrate on carefully considered collaborations and acquisitions in order to expand their consumer base and strengthen their supply chain. Acquisition of Finesse Solutions by Thermo Fisher can be one such example, as it helped the company to have a foray into single use bioprocessing instruments and devices market. Most of these companies are focused on their primary regions while only a few cater to global audiences.

As per the projections of the TMR report, the demand in the global single-use bioprocessing sensors and probes market will increment at an impressive CAGR of 13.4% during the forecast period of 2017 to 2025. By the end of 2025, the revenue in this market are estimated to reach a valuation of US$1,281 mn, considerably up from its evaluated worth of US$418.3 mn in 2016. In the near future, product differentiations are expected to help the companies make a niche for themselves and stabilize their position in the market.

Based on product type, the report segments the global single-use bioprocessing sensors and probes market into pH sensors including electrochemical, optical, and solid-state, value including pneumatic pinch valve and electrically actuated pinch valves, bench top control system including decentralized control system (DCS) and programmable logic controllers (PLC), spectroscopy including Raman Spectroscopy, NIR, and scattering spectroscopy, optical chemical DO, temperature, and pressure. Among these, bench top control segment accounted for 24.1% of the overall demand in 2016 and is expected to remain most profitable, with the demand expanding at an above-average CAGR of 13.9% during the said forecast period. By the end of 2025, the bench top control segment of single-use bioprocessing sensors and probes market is estimated to be worth US$323.3 mn. The valve segment follows top bench top control system segment, accounting for 19.7% of the demand in 2016, which was worth US$81.3 mn.

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Application-wise, the report bifurcates this market into biotechnology industry, pharmaceutical industry, academic research, and others. Heightened impetus on efficiency and easier monitoring of bioprocessing, growing demand for bioprocessing from industries, increasing global aging population, and rising obesity levels are some of the key factors driving the global single-use bioprocessing sensors and probes market.

Geographically, the report picks out North America as the most lucrative region, which accounted for 40.4% of the total demand share in 2016, gaining primary traction from the developed country of the U.S. wherein new technology is quickly adopted, involves a number of well-established bioprocessing and pharmaceutical players, and greater research activities. Throughout the duration of the forecast period, North America is expected to maintain its dominance. Europe, on the other hand, is currently second most profitable region but will lose demand share to reach a worth of US$330.8 mn by 2025. Asia Pacific is projected to exhibit a CAGR of 13.8% between 2017 and 2025.

Browse Research Press Release: https://www.transparencymarketresearch.com/pressrelease/single-use-bioprocessing-sensors-probes-market.htm

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Original Source: https://www.newswire.com/news/single-use-bioprocessing-sensors-and-probes-market-to-breach-billion-20056785

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