Single-use Assemblies Market worth $6.3 billion by 2026 - Exclusive Report by MarketsandMarkets™
2022-04-01 13:10:50 UTC | Healthcare & Pharmaceuticals
According to the new market research report "Single-use Assemblies Market by Product (Bag Assembly, Filtration Assembly, Bottle Assembly, Mixing Assembly), Application (Filtration, Storage), Solution (Standard, Customized), End User (Pharmaceutical, Biopharma, CMOs, CROs) – Global Forecast to 2026", published by MarketsandMarkets™, the global market is projected to reach USD 6.3 billion by 2026 from USD 2.2 billion in 2021, at a CAGR of 23.3% during the forecast period.
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The growth of the market can primarily be attributed to the major advantages of single-use technologies as compared to traditional stainless-steel assemblies, such as rapid implementation and the low risk of cross-contamination. The increasing biopharmaceutical R&D expenditure and growing biologics market are also driving the market growth.
The biopharmaceutical & pharmaceutical companies segment accounted for the largest share of the end user segment in the single-use assemblies market in 2020.
On the basis of end users, the market is segmented into biopharmaceutical & pharmaceutical companies, contract research & manufacturing organizations (CROs & CMOs), and academic & research institutes. In 2020, the biopharmaceutical & pharmaceutical companies segment accounted for the largest share of the single use assemblies market. The demand for biopharmaceuticals among the geriatric population is increasing as the elderly are more prone to diseases/disorders, which are treated using biologics. This has resulted in the increased focus of biopharmaceutical companies on developing affordable biologics at lower costs. As single-use assemblies have wide applications in each stage of the production cycle, their adoption is increasing with the growth in the production of biologics and biosimilars.
The standard solutions segment accounted for the largest share of the solutions segment in the single-use assemblies market in 2020.
Based on solution, the market is segmented into standard solutions and customized solutions. In 2020, the standard solutions segment accounted for the largest share of the market. The adoption of standard solutions is high in the pharmaceutical & biopharmaceutical industries due to the advantages these solutions offer, such as manufacturing process efficiency with reduced capital costs, improved flexibility with the use of pre-qualified components for building assemblies, reduced implementation time, and more flexibility with production planning.
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The Asia Pacific region is the fastest-growing region of the single use assemblies market in 2020.
In 2020, the Asia Pacific region accounted for the fasted growing region of the market. This can be attributed to the growing biopharmaceutical market and biopharmaceutical manufacturing capabilities in Asian countries, rising life science research activities, increasing investments by pharmaceutical & biotechnology companies, and the growth of the contract R&D sector.
Prominent players operating in the single-use assemblies market are Thermo Fisher Scientific, Inc. (US), Sartorius Stedim Biotech (France), Danaher Corporation (US), Merck KGaA (Germany), Avantor, Inc. (US), and Saint-Gobain (France).
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