Bioreactor Market Revenue to Cross USD 16 Bn by 2027: Global Market Insights Inc.
Single-use bioreactors market is estimated to attain a CAGR of 20.2% through 2027 owing to various advantages such as reduced cross contamination, cost-effectiveness, flexibility and increased productivity.
SELBYVILLE, Del., March 16, 2021 /PRNewswire/ -- According to latest report "Bioreactor Market by Product Type (Single-use, Reusable), Cell (Mammalian Cells, Bacterial Cells, Yeast Cells), Molecule (Monoclonal Antibodies, Vaccines, Recombinant Proteins, Stem Cells, Gene Therapy), Usage (Developmental, Pre-clinical & Clinical, Commercial Production), End-use (R&D Organizations, Biopharma Manufacturers, Contract Manufacturing Organizations [CMOs]), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2027," by Global Market Insights Inc., the market valuation of bioreactors will cross $16 billion by 2027. Booming pharmaceuticals and biotechnology industry will upsurge the demand for bioreactors during the forecast timeframe.
Recent incidence of coronavirus infection has affected millions of people across the globe. Community transmission in some regions has resulted into increasing casualties worldwide, thus growing the demand for vaccine and other biologics to control the mortality rate. Currently, biopharmaceutical and biotechnological companies are focusing on rising research and development (R&D) of vaccines for COVID-19. The coronavirus outbreak has offered unprecedented demand to the industry and firms are extensively investing in R&D activities and mass production. Thus, the demand for bioreactors will surge in the coming years.
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Rising demand for therapeutic drugs in biopharmaceutical industry will spur the bioreactor market growth. High demand for monoclonal antibodies (mAb) owing to growing incidence of cancer has boosted mAb production, thereby impacting the market expansion. Furthermore, adoption of advanced technologies, development in bioprocessing equipment, and increasing demand for single-use bioreactors will positively influence the market value. Moreover, growing research and development expenditure by the government and major market players will augment the revenue growth.
Single-use bioreactors segment is projected to witness 20.2% growth rate till 2027 due to various advantages such as reduced cross contamination, cost-effectiveness, flexibility and increased productivity. Rising trend towards multi-drug facility will further propel the acceptance of single-use bioreactors.
Yeast cells segment in the bioreactor market is expected to foresee lucrative growth in the coming years. Yeasts cells are mostly used in the production of protein-based products and other fermented products. The growing interest in flocculation bioreactors owing to their high cell density and high productivity in continuous process emphasizes the necessity for controlling yeast flocculation, thus driving the segment growth.
The stem cells segment accounted for USD 210 million in 2020. Growing prevalence of cancer globally has led to wide acceptance of stem cell therapy. Stem cells replace the damaged cells in the body, thereby making a way for the donor's immune system to fight with cancer and other disorders. They have wide range of therapeutic applications in curing heart disorders and neuromuscular diseases. In addition, rising R&D expenditure by the companies, increasing government funding and growing demand for cell-based products will further impel its growth in the coming years.
Bioreactor market for commercial production segment is predicted to grow at 15.3% CAGR through 2027. Expanding pharmaceutical and biotechnology sectors has increased the use of bioreactors for mass production of biologics. Processing of biological materials using biological agents such as cells, enzymes or antibodies are the major pillars of healthcare industry.
Contract manufacturing organizations (CMOs) is one of the ongoing trends in the healthcare industry for outsourcing the development of products. It is widely used by the major market players to set their footprint in the emerging nations. Big biotechnology companies focus more on marketing rather than investing their own resources into manufacturing. Additionally, companies lacking infrastructure and technical expertise outsource to CMOs.
Asia Pacific bioreactor market held around 20% of revenue share in 2020 led by growing usage of advanced technology and presence of firms with robust manufacturing capacity in healthcare sector. With increasing government investments in healthcare and R&D, APAC presents several opportunities for innovative products and collaboration between domestic and international pharmaceutical companies. Therefore, with growing biopharmaceutical business, the region will create profitable avenues for the industry.
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Major companies operating in the global bioreactor market include Cytiva, Merck Group, Sartorius Stedim Biotech Group and Eppendorf. The key industry leaders are adopting various inorganic growth strategies to gain market share and competitive advantage. These industry participants have undertaken certain strategic initiatives such as new product development and launch, collaborations, acquisitions and others that have enhanced their business hold and helped them evolve as major industry players.
Table of Contents (ToC) of the report:
Chapter 3 Bioreactor Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016- 2027 (USD Million)
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By product type
3.4.2 By cell
3.4.3 By molecule
3.4.4 By usage
3.4.5 By end-use
3.5 COVID-19 impact analysis
3.6 Regulatory landscape
3.7 Technology landscape
3.7.1 Technology overview of single-use bioreactors
3.7.1.1 Wave-induced motion SUB
3.7.1.2 Single-use Bubble Column
3.7.1.3 Stirred SUB
3.8 Porter's analysis
3.9 Competitive landscape, 2020
3.10 PESTEL analysis
Browse Complete Table of Contents (ToC) @
https://www.gminsights.com/toc/detail/bioreactor-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Bioreactor Market Growth Predicted at 16.6% Through 2027: GMI
Major bioreactor market players include Cytiva, Merck Group, Sartorius Stedim Biotech Group and Eppendorf.
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