According to the research report titled ‘Global Next-Generation Biomanufacturing Market Analysis, 2020’, available with Market Study Report, global next-generation biomanufacturing industry is anticipated to record 8% CAGR between 2020 and 2025.
 

Increasing development and commercialization of pipeline therapy products coupled with rising cognizance are some of the key factors driving the growth of global next-generation biomanufacturing market.
 

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For those unaware, biomanufacturing is an advanced production process that employs both natural as well as engineered biological systems in order to develop biomaterials. These biomaterials are widely adopted in industrial, food & beverage, and medicinal applications.
 

Next-generation biomanufacturing has significantly improved the supply of biologic medicines used for treating kidney and liver disorders as well as diabetes and cancer. Apart from this, shifting trends of adopting single-use products coupled with escalating investments towards development of advanced next-generation biomanufacturing facilities are favoring the overall market scenario.
 

As per type, the market is split into upstream manufacturing and downstream manufacturing. Based on application spectrum, global next-generation biomanufacturing industry is segmented into vaccines, monoclonal antibodies, hormones, recombinant proteins, and others.
 

The end-user scope of the overall market consists of contract manufacturing organizations, biopharmaceutical companies, and research institutions.
 

Among these, the report states that biopharmaceutical segment is likely to generate considerable revenues for this business landscape in the upcoming years. Rapid digitalization, growing adoption of AI and augmented reality technologies, and focus towards developing and commercializing innovative products are favoring the overall market scenario.
 

Regionally, global next-generation biomanufacturing industry is split into North America, South America, Europe, Middle East & Africa and Asia-Pacific.
 

ThermoFisher Scientific Inc., Solaris Biotechnology S.r.l., PBS Biotech Inc., Esco Micro Pte. Ltd., Eppendorf AG, Danaher Corporation, Merck KGaA, Meissner Filtration Products Inc., bbi-biotech GmbH, and Applikon Biotechnology B.V. are the key competitors in global next-generation biomanufacturing industry.