May 29, 2024
Biopharma Buffer Market

Biopharma Buffer Market is Estimated To Witness High Growth Owing to Increasing Demand for Biologics

The Biopharma Buffer Market is estimated to be valued at US$ 3.68 Bn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Biopharma buffers are aqueous solutions consisting of salts and acids or bases that are used in biopharmaceutical manufacturing to maintain and stabilize the optimum pH of biological products. Biopharma buffers help maintain biological products at their optimum pH level and prevent them from undergoing undesirable chemical changes during purification, transportation, and storage. They play a vital role in cell culture, downstream processing, analytical applications, and final drug formulation.

Market key trends:
Biopharma buffers market is witnessing high growth owing to the increasing demand for biologics. Biologics have complex molecular structures which require controlled pH environments for stability. As biologics production is increasing significantly, the demand for high-quality buffers to maintain stability at each stage of biopharma manufacturing is also increasing. Furthermore, advancements in continuous bioprocessing is another key trend spurring the demand for buffers, as continuous biomanufacturing requires precisely pH-controlled liquid handling at each stage for consistent outputs. Wide use of buffers in bioprocessing, analytical testing, and formulations is expected to drive the biopharma buffer market substantially in the forecast period.

Porter’s Analysis

Threat of new entrants: The  Global Biopharma Buffer Market is moderately difficult to enter due to the requirement of technical expertise and high capital investment required to build production facilities.

Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of a large number of established players and availability of private label products.

Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials.

Threat of new substitutes: The threat of new substitutes is low due to lack of suitable alternatives for buffers in biopharmaceutical applications.

Competitive rivalry: High due to presence of numerous global and regional players.

SWOT Analysis

Strengths: Established infrastructure and technical expertise of key players. Increasing R&D investment to develop innovative products.

Weaknesses: High dependence on China and India for raw material supply. Requirement of regulatory approvals delays new product launches.

Opportunities: Growth in demand for biologics and biosimilars. Emerging markets of Asia Pacific and Latin America offer lucrative opportunities.

Threats: Price pressure from local manufacturers. Stringent regulations associated with buffer applications.

Key Takeaways

The global biopharma buffer market is expected to witness high growth at a CAGR of 7.1% over the forecast period, due to increasing demand for biopharmaceuticals. North America dominated the market in 2023 with largest revenue share owing to presence of key players and technological advancements in the region.

Regional analysis: Asia Pacific is projected to be the fastest growing region during the forecast period driven by rising contract manufacturing in countries like China and India along with increasing healthcare investments.

Key players operating in the biopharma buffer market are Merck KGaA, Thermo Fisher Scientific Inc., Avantor, Inc., Lonza Group Ltd., Bio-Rad Laboratories, Inc., Sartorius AG, Corning Inc., Becton, Dickinson and Company, GE Healthcare, and Promega Corporation. Key players are focusing on capacity expansions, new product launches and mergers & acquisitions to strengthen their market position.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it