1、1Global Equity Research08 August 2024J.P.Morgan Securities PLCSee the end pages of this presentation for analyst certification and important disclosures,including non-US analyst disclosures.J.P.Morgan does and seeks to do business with companies covered in its research reports.As a result,investors

2、should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.Investors should consider this report as only a single factor in making their investment decision.Richard Vosser AC(44-20)7742-James D Gordon(44-20)7742-Zain Ebrahim(44-20)3494-1163 John Pr

3、iestner(44-20)7742-9923 Sophia Graeff Buhl Nielsen(44-20)7742-3918 EU Pharma&BiotechJ.P.Morgan Global Healthcare2024 Bioprocessing US Channel Check With Implications for Life Science ToolsUS Life Sciences,Tools&DiagnosticsRachel Vatnsdal AC+1 612 384 8611Rachel.VMarta Nazarovets Zaremba+1 212 622 60

4、46MCasey Woodring+1 212 622 9074Casey.WJaden Rismay+1 212 622 8479 JJ.P.Morgan Securities LLC2Overall Survey Takeaways Bioprocessing Market:Monoclonal antibody volume growth of HSD intact.On average,surveyed customers see 8.7%monoclonal antibody volume growth for the next 5 years,including 7.7%for L

5、arge Pharma,7.5%for Large Biotech and 14-16%growth for Large CDMO and Mid stage Pharma Biotech.This is consistent with our expectations for monoclonal antibody volume growth over the mid-term and suggests underlying market growth for antibodies remains intact.Cell&Gene:Mid-teens market growth.Custom

6、ers see mid-teens Cell&Gene Therapy growth in the mid-term,ranging from 15%for Gene Therapy and 17%for Cell Therapy.By customer,Large CDMOs are the most bullish,foreseeing 22%growth for Gene Therapy and 26%for Cell Therapy.Conversely,Large Biotech are the most cautious,expecting 11%growth for Gene T