What Will The Single Use Assemblies Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s single use assemblies market report forecasts the single use assemblies market size to grow to $10.81 Billion by 2027, with a CAGR (compound annual growth rate) of more than 22%.
Learn More On The Single Use Assemblies Market Report 2023 – https://www.thebusinessresearchcompany.com/report/single-use-assemblies-global-market-report
Single Use Assemblies Market Size Forecast
The global single use assemblies market is expected to grow from $4.13 billion in 2022 to $4.81 billion in 2023 at a compound annual growth rate (CAGR) of 16.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The single-use assemblies market size is expected to grow to $10.81 billion in 2027 at a CAGR of 22.5%.
North America held the largest single use assemblies market share.
Key Single Use Assemblies Market Driver – Increase In Demand For Biopharmaceuticals And A Rise In Life Science R&D
For instance, according to the International Federation of Pharmaceutical Manufacturers and Association (IFPMA), a Switzerland-based trade association of pharmaceutical companies, in 2020, there is an increase in the development of drugs in specific disease areas such as for cancer- 2740 new drugs were developed. For immunology, 1535 new drugs were developed and for Infectious diseases, 1213 new drugs were developed. As of 2021, there are new 50 medicines and vaccines are developed for HIV. Further, according to the Association of Medical Research Charities (AMRC), a UK-based association of medical and health research charities increased its R&D spending from £1.3 billion to £1.9 billion in 2020. Also, UK foreign direct investment in life sciences reached £510 million. Therefore, an increase in demand for biopharmaceuticals and a rise in life science R&D are driving the growth of single-use assemblies.
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Key Single Use Assemblies Market Trend – Technological Advancement
Major companies operating in the market are introducing new technologies such as the Thermo Scientific HyPeak chromatography system which is a single-use chromatography system to sustain their position in the market. For instance, in October 2021, Thermo Fisher Scientific, a US-based manufacturer of scientific instruments, launched the Thermo Scientific HyPeak chromatography system, which is a single-use chromatography system. That helps to flows ranging from one liter per hour to 1980 liters per hour. That had unique features like zero dead-leg and a ring flush valve manifold that helps to improve product yield and operation.
Single Use Assemblies Market Segment
1) By Product Type: Filtration Assemblies, Bag Assemblies, Bottle Assemblies, Mixing System Assemblies
2) By Solution: Standard Solutions, Customized Solutions
3) By Application: Cell Culture And Mixing, Filtration, Storage, Sampling, Fill-Finish application
4) By End User: Biopharmaceutical And Pharmaceutical Companies, Contract Research And Contract Manufacturing Organizations, Academic And Research Institutes
Single Use Assemblies Market Major Players and Strategies
Major players in the single use assemblies market are Avantor Inc., Corning Incorporated, Danaher Corporation, Thermo Fisher Scientific Inc., Sartorius AG, Merck KGaA, Saint-Gobain, Parker Hannifin Corporation, Repligen Corporation, Newage Industries, Antylia Scientific, Cole Parmer, Entegris Inc., GE Healthcare, and Pall Corporation.
In June 2021, Avantor Inc., a US-based science, chemical, and materials company, acquired RIM Bio for an undisclosed amount. Through this acquisition, by extending Avantor’s single-use production, distribution, and cleanroom capabilities to the AMEA area, the addition of RIM Bio enables Avantor to better serve their customers and strengthens Avantor’s position to seize long-term opportunities in the expanding, international bioproduction market RIM Bio is a China-based maker of single-use bioprocess bags and assemblies for use in the production of biopharmaceutical products.
The Single Use Assemblies Global Market Report 2023 covers regional data on single use assemblies market size, single use assemblies market trends and drivers, opportunities, strategies, and single use assemblies market competitor analysis. The countries covered in the single use assemblies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Single-use assemblies refer to single-use components that ensure a sterilized fluid flow of pharmaceutical products. These are fully completed process systems that are customer-specific, ready-to-use, all-in-one solutions composed of various plastic parts that are integrated into a single unit. Single-use assemblies offer the benefit of fewer cross-contamination and leakage concerns, fewer production interruptions, lower costs, and many more. The single-use assemblies are used to connect medical and laboratory instruments and equipment.
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