“So, we are saying that in the second half in bioprocessing, we'll see mid to high single digits with an exit rate of high single digits or better.”

In context

“p back, is actually fairly consistent. It appears that the industry is seeing a slow and gradual recovery here through the first half of the year with an expectation that things get better here in the second half, certainly off of the basis of easier comps, but also because we have largely put the destocking issue behind us. Michael Ryskin: Okay. And most of those comments, I think, really touch on the short term. But can we think about bioprocessing longer term? I think as you exit this year, you talked about mid single digit, high single digit growth or better. That sets you up well for 2025. So, when we think about the long-term bioprocess algorithm, what's your latest view on underlying market demand and just sort of how sustainable is that growth? Rainer Blair: That's right, Michael. So, we are saying that in the second half in bioprocessing, we'll see mid to high single digits with an exit rate of high single digits or better. And that supports our long-term thesis that the bioprocessing market really is growing at high single digits. And that's our expectation here for the long-term. 2025 is a ways away for us yet. We want to make sure that we deliver what we have to do in 2024. But our long-term hypothesis remains intact. And that's really based on a number of supporting factors. If we think about the lower penetration, relatively speaking, of biologic drugs around the world and the opportunity to reach more patients with different approaches such as biosimilars. If we think about the size and the speed of development in the development funnel with the various types of modalities, certainly monoclonal antibodies, but also different proteins such as ADCs, bispecifics, and then, of course, nucleic acids as they”