Market Trends of Global Pharmaceutical Isolator Industry
This section covers the major market trends shaping the Pharmaceutical Isolator Market according to our research experts:
The Pharmaceutical and Biotechnology companies Segment is Expected to Witness Growth Over the Forecast Period
The sudden outbreak of COVID-19 had increased the demand for biologics to treat the infected people and provide vaccinations. The pharmaceutical and biotechnology segments are expected to hold the major share in the forecast period owing to the novel drug development and protein pharmaceutical synthesis using recombinant DNA technology.
Key factors such as increasing expenditure in the research and development by the pharmaceuticals and biotechnology industries to develop protein-based therapy are expected to significantly impact the market's growth. According to the data published by Organisation for Economic Co-Operation and Development (OECD) in 2020, the pharmaceutical industry spent nearly USD 101 Billion on Research and Development in the OECD countries. Also, the same source reported that global R&D spending by the largest publicly- traded companies grew 13.7% annually. Therefore, the increasing expenditure on research and development by the pharmaceutical and biotechnology industries to develop their product pipeline is expected to boost the growth of the expression vectors market.
Moreover, in August 2022, Azzur Training Center announces the release of a comprehensive training course catalog spanning current good manufacturing practices (cGMP), regulatory requirements, industry manufacturing skills, and quality systems.
Hence, the pharmaceutical and biotechnology industries are expected to hold a significant share in the market during the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
The increase in the adoption of highly advanced techniques and systems in genomics and proteomics, novel drug discovery, and development is expected to boost the market's growth in the North American region. Also, the increasing funding from government organizations for research and development activities in the United States is a major contributing factor to the market growth in this region. According to the data published by the National Center for Biotechnology Information (NCBI), Biotechnology funding by the National Institute of Health (NIH) was around USD 7.77 Billion during the fiscal year 2020. Also, the data published by the Federation of American scientists reported that federal funding for research and development grew 5.9% in 2020 compared to 2019, which was USD 138.9 Billion. The Nation's 42 federally funded research and development centers spend around USD 23.5 Billion on research and development in the fiscal year 2020. Additionally, the presence of major market players in this region is also a major factor in the growth of the market in this region.
Thus, the market is expected to witness significant growth during the forecast period due to the abovementioned factors.
