A three-pronged approach was followed for deducing the microbial fermentation technology market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for microbial fermentation technology market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of microbial fermentation technology market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The microbial fermentation technology market was categorized into three segments, namely application (Antibiotics, Probiotics Supplements, Monoclonal Antibodies, Recombinant Proteins, Biosimilars, Vaccines, Enzymes, Small Molecules), end-user (Bio-Pharmaceutical Companies, Contract Research Organizations, CMOs & CDMOs, Academic & Research Institutes), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The microbial fermentation technology market was segmented into application, end-user, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The microbial fermentation technology market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; South Korea; Australia; Thailand; Brazil; Mexico, Argentina; South Africa; Saudi Arabia, UAE; Kuwait.
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The microbial fermentation technology market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
BIOVIAN OY - Biovian Oy, headquartered in Turku, Finland, is a CDMO offering development and manufacturing services to companies operating in gene therapies or biopharmaceuticals domain. The company was founded in 2003 and focuses on viral vector production, microbial fermentation & production of recombinant proteins, and plasmid DNA manufacturing. It provides services ranging from process development and scale-up to clinical biomanufacturing and technology transfer. The company also has a fully integrated infrastructure for master cell & virus bank manufacturing and owns certified facilities with GMP compliance.
CURIA GLOBAL, INC. - Curia Global, Inc. is a global CDMO headquartered in New York, U.S., and was founded in 1991. The company offers products and services for drug development & manufacturing of complex Active Pharmaceutical Ingredients (APIs). It partners with pharmaceutical & biotechnology companies to commercialize confident steroidal and hormonal intermediates. It also has cGMP compliant manufacturing services for custom API manufacturing. The company has an in-house supply chain and complies with the AIFA, FDA, PMDA, & other regulatory bodies.
BIOCON - Biocon was founded in 1978 and is headquartered in Karnataka, India. The company has pioneered several developments in recombinant technologies, including an indigenous recombinant human insulin (rhinsulin) based on its proprietary fermentation technology. Its businesses span across production and distribution of generics, biosimilars, & novel biologics; it also provides research services in the biopharmaceutical industry. The company has 5 state-of-the-art facilities across India for complex API manufacturing and maintains strategic partnerships with global CMOs for strengthening its production capacities.
THERMO FISHER SCIENTIFIC, INC. - Thermo Fisher Scientific, Inc. develops and supplies analytical equipment, instruments, consumables, reagents, software, & services for various applications, including diagnostics, research, manufacturing, and drug discovery. The company operates across four business segments: Analytical Instruments, Life Sciences Solutions, Specialty Diagnostics, and Laboratory Products & Services. Through its Life Sciences Solutions segment, it provides reagents, consumables, and instruments used in drug discovery as well as biological & medical research. Through its Analytical Instruments segment, it provides consumables, instruments, software, and services used in various applications in the laboratory, on the production line, & in the field. Specialty Diagnostics segment offers diagnostic reagents, test kits, instruments, culture media, and associated products to serve customers in healthcare, clinical, pharmaceutical, industrial, & food safety laboratories. Laboratory Products and Services segment offers a wide array of laboratory equipment. The company is operational in more than 50 countries outside the U.S. It was founded in 1956 and is headquartered in Massachusetts, U.S. It had around 130,000 employees as of 2021.
LONZA - Lonza caters to pharmaceutical, consumer health, biotechnology, and specialty ingredients industries. Lonza develops and manufactures preventive & curative medicines, nutritional ingredients, and personal care products. The company operates through two business segments— Pharma & Biotech and Specialty Ingredients.The Pharma & Biotech segment comprises the chemical and biologics division, bioscience solutions, and capsule delivery solutions business units. The Specialty Ingredients segment includes consumer health, consumer & resources protection, and water care business units.The company supplies its products to more than 30 countries across the globe and has approximately 53 manufacturing and R&D facilities. It was established in 1897 and is headquartered in Basel, Switzerland.
SARTORIUS AG - Sartorius AG is headquartered in Göttingen, Germany and has subsidiaries in more than 30 countries. It is the parent company of Sartorius Group and was founded in 1870. It had an employee strength of around 13, 832 as of 2021. The company offers reagents, kits, and equipment for biomolecular and microbiology applications, including cell culture, purification, & fermentation. Its customers include biotechnology, pharmaceutical, and food & beverage industries; educational institutes; and research laboratories. In October 2019, the company signed an agreement to acquire FortéBio to support its bioprocessing portfolio.
BIOVECTRA - BIOVECTRA is a biotechnology company established in 1970 and headquartered in Prince Edward Island, Canada. The company specializes in clinical-to-commercial scale production of APIs and intermediates. It also deals with producing synthetic small molecules, fermented small molecules, biologics and bioreagents. It also provides a variety of services, including rapid process development & optimization, process scale-up, identification & characterization of process parameters, development of process control strategies, and validation support. In September 2019, H.I.G. Capital acquired the company for a sum of USD 250 million.
BOC SCIENCES - BOC Sciences was founded in 2005 and is headquartered in New York, U.S. The company specializes in small molecules synthesis, purification, and characterization and supplies highquality biosynthesis products for academia, pharmaceuticals, biotechnology, CDMO, & other industries. Its products include various research chemicals and biochemicals such as carbohydrates, nucleotides, inhibitors, GMP products, APIs, & stem cell molecules. It also offers microbial fermentation services, starting from strain development to large-scale manufacturing.
BIOZEEN - BiOZEEN is an ISO 9001:2015 certified company headquartered in Karnataka, India. The company was founded in 2006 and is focused on designing & engineering bioprocess equipment, and providing process optimization services to the biopharmaceutical industry. It assists biopharmaceutical companies in the production of biotherapeutics, ranging from monoclonal antibodies to vaccines and APIs. It also offers automation solutions and regulatory services for bioprocessing operations and has a product portfolio of fermenters, bioreactors, process vessels, filtration systems, & other bioprocessing equipment.
LAURUS BIO - Laurus Bio operates in the biomanufacturing industry with precision fermentation and recombinant technologies expertise. The company was founded in 2006 and is headquartered in Karnataka, India. It develops and manufactures animal-free recombinant products & industrial-scale biotechnology products such as growth factors, cell-culture media supplements, and others. In addition, the company's precision fermentation CDMO service spans across microbial precision fermentation value-chain, from clone development to commercial scale-up and manufacturing.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.
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