Bioconjugation Market

The bioconjugation market is expected to grow from USD 5.27 billion in 2024 to USD 10.86 billion by 2029, at a CAGR of 15.6%. Growing demand for targeted therapies, increasing outsourcing needs, expanding pipeline of bioconjugates, are some of the factors propelling this market's expansion. Secondly, the proliferation of personalized medicine and the increasing need for high-precision diagnostics for many different conditions will further accelerate the market. There has been a rise in the developing consumables, instruments, and services required to address the complex needs of bioconjugation processes.

Danaher Corporation (US), Lonza (Switzerland), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), AbbVie Inc. (US), Wuxi Biologics (Cayman) Inc. (China)) and Sartorius AG (Germany) are among the top companies in the global bioconjugation industry. In order to hold onto their positions in the global bioconjugation market, players have employed a range of strategies, such as collaborations, agreements, product/service launches, and geographic expansions.

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Danaher Corporation (US)

Danaher Corporation is the leading player in the bioconjugation market. The company has a strong portfolio of bioconjugation solutions. The company observed a rise in sales in its Life Sciences segment owing to the rising demand for bioconjugation products & services in the life sciences research, academic, and applied end-markets. The growth of the bioconjugation market was due to an increase in the core sales of the microscopy, mass spectrometry, and filtration industries. Through its acquisitions of Pall Corporation in August 2015 for USD 13.8 billion and GE Healthcare's Biopharma business (Cytjua) in March 2020 for USD 21 billion, Danaher Corporation expanded its position in the biotechnology industry. To further enhance its bioconjugation service offerings, the company focuses on strategic alliances, expansions, and acquisitions. One such acquisition was of Abcam in 2023.

Lonza (Switzerland)

Lonza has a competitive advantage due to its large-scale manufacturing capability, substantial knowledge in biologics, and reputation in the biopharmaceutical industry. The company is a major service provider in the bioconjugation market because of its extensive global reach, regulatory experience, and ability to deliver comprehensive solutions, ranging from early-phase development to commercial manufacture. The company offers bioconjugation services for developing antibody-drug conjugates (ADCs). Due to an increased investment program for the biologics segment, growth in the outsourcing trend, and an increase in commercial demand, the company reported a rise in HI revenue in its Biologics divisions of approximately 6.5%, reaching USD 1.7 million in 2024 from USD 16 million in 2023.

Thermo Fisher Scientific Inc. (US)

Thermo Fisher Scientific Inc. is a leading global provider of bioconjugation solutions, consumables, and instruments. The company supports innovation through ongoing R&D spending. With a strong worldwide presence and ongoing expansions in existing and developing markets, the company is likely to grow in the bioconjugation market over the forecast period. In 2023 and 2024, the company's analytical instruments and laboratory products segments saw revenue growth, driven by increased demand, particularly in the electron microscopy, clinical research, chromatography, and mass spectrometry businesses, as well as productivity improvements and strategic pricing to combat inflation.

Related Reports:

Bioconjugation Market by Product (Consumables, Instruments (Chromatography, Spectrometry)), Service (Conjugation, Analytical), Technique (Chemical, Click Chemistry), Biomolecule (Antibodies), Application (Therapeutics (ADC), R&D) - Global Forecast to 2029

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