Next-Generation Biomanufacturing Market - Regional Analysis
North American Market Insights
North American next-generation biomanufacturing market is anticipated to hold the largest share of 36% during the foreseen period. Many of the top biopharmaceutical businesses in the world are based in North America, and they will probably use next-generation biomanufacturing technology to boost productivity and enhance their production processes. Along with having a robust R&D infrastructure, North America is home to numerous universities, research centers, and government organizations that are engaged in the development of novel biomanufacturing techniques and procedures. These organizations will probably be crucial in propelling the next-generation biomanufacturing market revenue expansion by creating innovative technologies and procedures that biopharmaceutical businesses and other end users can use.
APAC Market Insights
Next-generation biomanufacturing market in the Asia Pacific region is expected to hold a share of 28% during the forecast period. The increase in approved treatments and the growing demand for sophisticated biomanufacturing infrastructures that can support an increasing number of target indications for gene & cell therapies are factors that are attributed to the next-generation biomanufacturing market growth. The APAC region is witnessing unprecedented advances in medical treatments due to the substantial investments made by governments, pharmaceutical companies, and academic institutions. For instance, compared to 2008, greenfield FDI in the Asia-Pacific health sector decreased by 49% in 2021. However, with a 78% growth in the first quarter of 2022, things appear more promising. This is driving up demand for advanced biomanufacturing solutions.
