Biopharmaceutical Analytical Instrumentation Market Garners Strong Opportunities from Double-digit Growth in Biosimilars

Thursday, April 13, 2017 Drug News
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Demand for analyzers expected from emerging economies that will become manufacturing hubs, finds Frost & Sullivan's Measurement & Instrumentation team

LONDON, April 13, 2017 /PRNewswire/ -- Biosimilars are driving rapid double-digit growth in the biopharmaceutical analytical

instrumentation market. This is driven by patent expiration, increasing regulatory approvals, government support, and hospitals and doctors prescribing biosimilars. In turn, the need for analytical instruments for characterization requirements will grow. Manufacturers should expand their capabilities by adopting innovative analytical instrumentation technology and customer awareness.

"Emerging economies such as India, Latin America, and South Korea are establishing large manufacturing hubs for biosimilars. This rapid expansion will drive the need and demand for analytical instrument analyzers," said Frost & Sullivan Measurement & Instrumentation Research Analyst Janani Balasundar.

Global Biopharmaceutical Analytical Instrumentation Market, Forecast to 2022, recent analysis from Frost & Sullivan's Test & Measurement Growth Partnership Subscription, finds that the market generated revenues of $1,092 million in 2015, and this is expected to grow at a compound annual growth rate (CAGR) of 7.2 percent until 2022. The global biosimilars segment is expected to reach $35 billion in 2025, with an average annual growth rate (AAGR) of 27.1 percent, is expected to drive the growth of biopharmaceutical analytical instrumentation market.

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From a regional perspective, biologic drugs and biosimilars will have steady growth in North America because of expanding applications in treating conditions such as diabetes and cancer. The European market will be driven by blockbuster drug patent losses, while India will become a leading provider of biosimilars as it has the necessary research and development capabilities and infrastructure.

Technological advancements in analytical instruments will be driven by:

  • Need for intuitive software with data analytics and big data functionality to convert biopharmaceutical analysis data into meaningful information;
  • Demand for laboratory information management systems to manage, archive, and compare the data processed from the beginning, as the biopharmaceutical market reaches a relatively developed phase;
  • Need for a combination of sensitive instruments, smart software, and advanced methods to drive successful deployment of practices since biopharmaceutical processes can be complex;
  • Key competitive factors such as powerful software, global presence, instrument accuracy and high throughput systems that will push vendors to differentiate their products via cost, performance, support, technology, reliability, and customer relationship strategies.

"Agilent Technologies' leading market share is a result of its robust initiatives to resolve the most common customer challenges," noted Balasundar. "SCIEX's increasing market share, on the other hand, is driven by its capability to provide customers with high-resolution systems, application-specific systems, user-friendly software, and biologic services."

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Global Biopharmaceutical Analytical Instrumentation Market, Forecast to 2022K100-30

Contact:Evgenia OleynikovaCorporate Communications – EuropeP: +48 224816210E: [email protected]

http://www.frost.com

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/biopharmaceutical-analytical-instrumentation-market-garners-strong-opportunities-from-double-digit-growth-in-biosimilars-300439295.html

SOURCE Frost & Sullivan



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