Bioreactor Market Size Worth US$ ~9.75 billion by 2030: Exclusive Report by Growth Plus Reports
Growman Research and Consulting Pvt Ltd.
5 min read
Growman Research and Consulting Pvt Ltd.
Pune, July 22, 2022 (GLOBE NEWSWIRE) -- The globalbioreactor market size was pegged at ~US$ 2.56 billion in 2021. The market is expected to clock US$ ~9.75 billion by 2030, to grow at a CAGR of ~16.0% between the forecast period. All information is portrayed in the latest report published by Growth Plus Reports. Report Title “Bioreactor Market by Material Type (Glass, Stainless Steel, and Single Use), by Usage (Lab-Scale Production, Pilot-Scale Production, and Full-Scale Production), by End User (Pharmaceuticals and Biopharmaceuticals Manufactures, Contract Research Organization, Academic & Research Institutes, and Others) – Global Outlook & Forecast 2022-2030”
In the pharmaceutical industry, the rising demand for therapeutic drugs will drive market revenue. Because of the high prevalence of cancer, there is a growing demand for monoclonal antibodies (mAb). Furthermore, ongoing advancements in bioprocessing equipment, widespread adoption of advanced technologies, and rising demand for single-use bioreactors will drive the market growth.
Coronavirus infection has recently afflicted millions of people worldwide. Global casualties have increased as a result of community transmission in some countries. Biopharmaceutical and biotechnological companies have been intensely focusing their efforts on COVID-19 vaccine research and development. The coronavirus outbreak has resulted in an unprecedented demand for bioreactors, with companies investing heavily in research and development as well as mass production.
Excerpts from ‘By Single Use Segmentation’
Based on material type, the global bioreactor market has been segmented into
Glass
Stainless Steel
Single Use
During the forecast period, the single use segment is expected to dominate the global bioreactor market. Because of increased demand for biologic drugs, government initiatives to further develop the pharmaceuticals sector, and advancements in vaccine R&D activities. The benefits of single-use bioreactors, such as reduced cleaning and sterilization requirements, lower risk of cross-contamination, and greater control over aseptic conditions are attributed to this segment's consistent revenue growth. By reducing automation complexity, single-use bioreactors improve end product quality.
However, due to an increase in demand for monoclonal antibiotics, advancements in technology for advanced bioreactors, and increased funding for biotechnological segments. For instance, February 2020, according to the American Pharmaceutical Review, 71.2 percent of industries use single-use bioreactors in process development, and more than 55 percent use single-use sampling systems in clinical or commercial production. Furthermore, product innovation is a key trend that is gaining traction in the single-use bioreactors market. Technological advancements and the growing popularity of mobile gaming technology are also fueling market demand. Major market players are focusing on the launch of innovative products in order to drive market growth. For instance, in March 2020, Sartorius, a biopharmaceutical company based in Germany, introduced BIOSTAT STR Generation 3 with BIOBRAIN, making biopharmaceutical development and production faster, simpler, and safer. This robust industrial platform includes hardware, software, and consumables for single-use process development and commercial biomanufacturing.
Based on the region, the global bioreactor market has been segmented into
North America
Europe
Asia Pacific
Rest of the World (RoW)
North America held the largest revenue share in the global bioreactor market and is expected to grow at a rapid rate over the forecast period.
The increase in the number of bio manufacturing facilities and investments in this region is driving the market growth. Furthermore, active support from regional governments to boost biologics production by providing funds for life science R&D will contribute to market revenue growth over the forecast period. Industry players expanding into emerging economies for cost-cutting reasons and establishing new manufacturing units will drive the bioreactors market growth in the region.
The market in Europe is expected to grow at a rapid rate over the forecast period, owing to increased investment in biopharmaceutical companies' research and industrial capacity in the region, as well as growing collaborations between industry and academics to conduct research and development. The European Commission (EC) proposed a new patient-centered pharmaceutical strategy for member countries, extending to ensure the quality and safety of medicines. Similarly, as part of the new EU Health Emergency Response Authority, the EC is encouraging investment to coordinate research, development, and manufacturing of novel antibiotics. This is expected to increase demand for bioreactors used to prepare vaccines and drugs, as well as drive revenue growth in the region's market.
Excerpts from ‘Competitive Landscape’
The global bioreactors market is moderately consolidated, with a few key players operating at the global and regional levels. Strategic alliances are being formed by key players in order to expand their respective portfolios and gain a strong foothold in the global market.
Some of the key players operating the global bioreactor market are
BBI-Biotech GmbH
Danaher Corporation
Bioengineering AG
Eppendorf AG
Getinge
Sartorius AG
Infors HT
Merck KGAA
Thermo Fisher Scientific, Inc
Solaris Biotech Solutions
Report Scope & Segmentation:
Report Coverage
Details
Market Size in 2021
USD ~ 2.56 billion
Revenue forecast in 2030
USD ~ 9.75 billion
Growth Rate
CAGR of ~ 16.0% from 2022 to 2030
Base year for estimation
2021
Forecast period
2022-2030
Segments covered
By Material Type, By Usage, By End User
Regional scope
North America, Europe, Asia Pacific, and the Rest of the World (ROW)
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