Market Trends of Desalting And Buffer Exchange Industry
The Pharmaceutical and Biotechnology Industries Segment is Expected to Witness Significant Growth Over the Forecast Period
The pharmaceutical and biotechnology industry segment is anticipated to grow with the advancing research and development activities and investments in the pharmaceutical and biotechnology domain.
The increase in research and developmental activities in the pharmaceutical and biotechnology industries to manufacture biopharmaceutical products may increase the demand for desalting and buffer exchange systems. For instance, as per the January 2023 update by the U.S. FDA, in 2022, 37 novel drugs were approved by the FDA. Since desalting and buffer exchange allow the separation of macromolecules from relatively smaller molecules, a crucial step in downstream processing to attain the final products, an increase in novel drug development by pharmaceutical and biotechnology companies is expected to drive the segment growth.
Furthermore, several pharmaceutical and biotechnology companies have taken strategic decisions to elevate the R&D and manufacturing of pharmaceuticals, which may surge the demand for desalting and buffer exchange products. For instance, in October 2022, Johnson & Johnson and Legend Biotech stated that they plan to increase their investments by twofold to USD 500.0 million to elevate the manufacturing of CAR-T cancer therapy. Similarly, in September 2022, Novartis invested over USD 300.0 million in biotherapeutics to create a fully integrated scientific environment to bolster its capacity and capabilities for early technical biologics development. Thus, such investments are expected to accelerate drug development. Therefore, the increasing expenditure on research and development and the recent developments by the biopharmaceutical and biotechnology industries to develop their pipeline products are expected to boost the segment growth over the forecast period.
Therefore, the pharmaceutical and biotechnology industry segment is expected to witness significant growth over the forecast period due to advancing research and development activities and rising investments by the pharmaceutical and biotechnology sectors.
North America is Expected to Witness Significant Growth Over the Forecast Period
North America is expected to witness healthy growth due to increasing demand for biopharmaceuticals and rising research and development expenditure by biopharmaceutical companies in the region. The region has significantly high R&D investment in biopharmaceuticals, which is anticipated to boost the demand for desalting & buffer exchange products as these products are utilized in the downstream processing of therapeutic biopharmaceuticals. For instance, as per the data published by the Pharmaceutical Research and Manufacturers of America in July 2022, the PhRMA member companies invested over 102.3 billion in the R&D of biopharmaceuticals for chronic and rare conditions in 2022. The same source further stated that it was the highest level of investment on record. Furthermore, the government of Canada has also been investing in the biomanufacturing, vaccine, and therapeutics ecosystem. For instance, the government of Canada invested over CAD 32.7 million (USD 24.4 million) into Novocol Pharmaceutical of Canada to expand the biomanufacturing capacity of Novocol's vaccines or therapeutics manufacturing and packaging for distribution.
The United States is expected to witness considerable growth among other countries of the North American region. The increasing focus by the market players on the research and development of cell biology products in the country is expected to propel the demand for desalting & buffer exchange products. For instance, in July 2022, Cytiva, in collaboration with Pall Corporation, invested over USD 1.5 billion to build its first chromatography resin plant outside Sweden. The company acquired a facility in Michigan in the United States, where the resin will be produced and used to purify and analyze biomolecules. Cytiva will get support from the State of Michigan and several United States agencies, including the Biomedical Advanced Research and Development Authority. Such investment by the market players and support from the public authorities is expected to contribute to the market growth over the forecast period.
Therefore, the increasing expenditure on research and development by the biopharmaceutical and biotechnology industries is expected to boost the growth of the North American region's desalting and buffer exchange market.
