According to a recent report by Future Market Insights, the global single-use bioprocessing probes and sensors market is experiencing unprecedented growth, currently valued at USD 2.7 Billion in 2022 and projected to soar to USD 9.8 Billion by the end of 2032, boasting a remarkable Compound Annual Growth Rate (CAGR) of 13.8%.
The forecast also anticipates a significant absolute dollar opportunity of approximately USD 7.1 Billion during the forecast period, with pH Sensors poised to spearhead the market growth with a striking CAGR of 16.5%.
Driving this exponential growth trajectory are continuous technological advancements coupled with the escalating integration of machine learning, automation, and big data solutions across various applications. These innovations are revolutionizing the landscape, enhancing predictive capabilities, and refining the accuracy of medical procedures.
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Moreover, the burgeoning market is further propelled by advancements in supply chain facilities, leveraging cost-effective and time-efficient technologies to streamline operations.
As the industry continues to evolve, stakeholders are primed to capitalize on these transformative trends, navigating towards unparalleled opportunities for innovation and growth.
Key Takeaways from the Market Study:
- Global Single-use Bioprocessing Probes and Sensors Market is expected to reach the valuation of USD 9.8 Billion by 2032.
- The global market is expected to grow at a CAGR of 8% as compared to historical growth of just 11.4%.
- During the period between 2022 and 2032, the market is expected to offer an absolute dollar opportunity of USD 7.1 Billion.
- The pH Sensors segment dominates the global market and is likely to grow at a CAGR of 5%.
- Among the Workflow types, Upstream workflow dominates the segment with the expected CAGR of 9% during the forecasted period.
- The U.S. market contributes significantly in the global market with around 29% Revenue through this segment is expected to grow at a CAGR of 12% during the forecasted period.
Continuous technological advancements and the increased use of Machine Learning, AI, Automation, and big data solutions in a number of applications are expected to boost the global market. These analytical models aid in the prediction of errors and the improvement of medical procedure accuracy, comments a Future Market Insights analyst.
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Competitive Landscape:
Market players in single-use bioprocessing probes and sensors are pursuing numerous strategic initiatives such as OEM alliances, market expansion, and new product development with improved technological complexity to promote their organic revenue growth and market presence. They are developing partnerships with key OEMs to build their single-use plants.
The key developments in Global Single-use Bioprocessing Probes and Sensors Market are:
- In September 2020, Thermo Fisher Scientific inaugurated the new Bioprocessing Collaboration center in St. Louis to accelerate innovation and enhancing productivity of Biopharma companies.
- In November 2021, Sartorius AG announced that it will expand its operation, production, innovation and storage facilities in France by investing 100 Million Euros by 2025.
- In March 2022, ABEC collaborated with EKF Life Science for expanding its Biomanufacturing operations in U.S. market.
Key Companies Profiled:
- Sartorius AG
- Thermo Fisher Scientific
- Danaher Corporation
- PreSens Precision Sensing GmbH
- ABEC
- Hamilton Company
- PendoTECH LLC
- Equflow
- Parker Hannifin Corporation
- Malema Engineering Corporation
- Dover Corporation
Market Segments Covered in Single-use Bioprocessing Probes and Sensors Market Analysis:
By Sensor Type:
- pH Sensor
- Oxygen Sensor
- Pressure Sensors
- Temperature Sensors
- Conductivity Sensors
- Flow Meters & Sensors
- Other Sensor Types
By Workflow:
- Upstream
- Downstream
By End Use:
- Biopharmaceutical Manufacturer
- Labs & Academic/ Clinical Research Institutes
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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