Biopharmaceutical Fermentation Systems Market to be Worth US$ 17.8 Billion by 2026, Says TMR

ALBANY, New York, July 19, 2018 /PRNewswire/ --

Transparency Market Research (TMR) has published a new report titled 'Biopharmaceutical Fermentation Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018-2026.' According to the report, the global biopharmaceutical fermentation systems market was valued at US$ 10.0 Bn in 2017 and is projected to reach US$ 17.8 Bn by 2026, expanding at a CAGR of over 6.0% during the forecast period from 2018 to 2026. Biopharmaceuticals is an exponentially growing therapeutic segment, with several novel therapies in pipeline. Microbial produced biopharmaceuticals generated revenue of around US$ 100 Bn in 2017 and the segment is estimated to expand at a significant CAGR. The global biopharmaceutical fermentation system market is driven by increased usage of fermentation derived products in various industries across the globe due to their natural structure, low cost, and better output. Moreover, rise in research and developmental activities in different fields of fermentation technology, technological advancements, rise in awareness about products, and launch of new products are the factors expected to drive the market in the near future.

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Increase in geriatric population, rise in prevalence of chronic diseases across the world, and surge in health care expenditure propel demand for biopharmaceuticals. This in turn is likely to fuel the growth of the global biopharmaceutical fermentation systems market during the forecast period. Several pharmaceutical companies are engaged in research and development of innovative new formulations and biological drugs to meet the unmet therapeutic needs. For instance, Biocon, India's largest, innovation-led, fully-integrated biopharmaceutical company which ranks among top three biosimilar global players for insulin, has commercialized the rh-insulin (recombinant human insulin) through Pichia fermentation technology. Rh Insulin and Insulin Glargine are registered in over 60 and 20 emerging markets, respectively.