Desalting and Buffer Exchange Market- Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)

The desalting and buffer exchange market is projected to register a CAGR of 10% during the forecast period (2022-2027).

The sudden outbreak of COVID-19 and the rise in the number of COVID-19 infection cases across the world increased the demand for vaccination and drugs. According to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), in 2021, 11 billion COVID- 19 vaccines will be produced, and nearly 200 vaccine candidates are in the production pipeline. The desalting and buffer exchange products have been extensively used in the vaccine production process as the buffer exchange is an important step in the downstream process. Hence, COVID-19 is expected to positively impact the desalting and buffer exchange market due to the increasing demand for effective COVID- 19 vaccination.

Increasing demand for biopharmaceutical products coupled with the rise in the research and development expenditure in biopharmaceutical products is expected to drive the market's growth. This is mainly due to the crucial role of the desalting and buffer exchange in the downstream production process of the drugs. According to the Global Use of Medicine in 2019 and Outlook to 2023, the global pharmaceutical market is expected to grow by over USD 1.5 trillion by 2023. The report published by the International Federation of Pharmaceutical Manufacturers and Association (IFPMA) in 2021, the biopharmaceutical research and expenditure in 2020 is over USD 189 billion globally. Therefore, the increasing expenditure on the research and development of biopharmaceuticals is expected to boost the market's growth as they use desalting and buffer exchange systems extensively in the manufacturing process.

Key Market Trends

The Pharmaceutical and Biotechnology Industries Segment is Expected to Hold a Major Market Share in the Desalting and Buffer Exchange Market.

During COVID-19, there is a rapid increase in market desalting and buffer exchange demand. This is mainly due to the increasing demand for biopharmaceutical drugs, effective therapies, and increasing research and development in the pharmaceutical and biotechnology industries during the pandemic era.

The increasing application of the desalting and buffer exchange systems in the Biopharmaceutical industries is expected to drive the market's growth. The desalting and buffer exchange systems also play a crucial role in the manufacture of the products. The increase in the research and developmental activities in biopharmaceutical industries in order to produce the products will increase the demand for desalting and buffer exchange systems. For instance, in 2020, the data published by Nature Journal states that 53 novel therapeutics are approved by Food and Drug Administration (FDA). Thus the increasing drug production reflects the demand for desalting and buffer exchange systems as the buffer exchange is an essential step in the downstream process. Also, key factors such as increasing expenditure in the research and development by biopharmaceutical industries to novel treatments 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 also reported that global R&D spending by the largest publicly traded companies grew 13.7% annually. Therefore, the increasing expenditure on the research and development by the biopharmaceutical and biotechnology industries to develop their product pipeline is expected to boost the growth of the desalting and buffer exchange market.

North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period

The United States is anticipated to hold a major share in the desalting and buffer exchange market. Increasing demand for biopharmaceuticals and rising research and development expenditure for biopharmaceutical companies are the contributing factors to the market growth in this region. According to Organisation for Economic Co-operation and Development (OECD), in 2020, the United States recorded USD 0.61 Million in research and development expenditure in the biopharmaceutical industry. Thus the increasing research and development expenditure in the pharmaceutical industry is a major factor that propels the growth of the market in this region. Furthermore, the presence of the major market players in this region spending extensively on the research and development of new products is also expected to boost the growth of the market in this region. 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 also reported that global R&D spending by the largest publicly traded companies grew 13.7% annually. Therefore, the increasing expenditure on the research and development by the biopharmaceutical and biotechnology industries to develop their product pipeline is expected to boost the growth of the desalting and buffer exchange market.

Competitive Landscape

The desalting and buffer exchange market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are ThremoFisher Scientific, Sartorius AG, Merck KGaA, Agilient Technologies Inc., Repligen, PhyNexus, Inc, Biogen, Norgen Biotec Corp., Danaher, and others

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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