The global bioreactors market is expected to reach US$ 4,811.5 Mn in 2027 from US$ 2,850.2 Mn in 2018
LONDON, March 12, 2019 /PRNewswire/ -- The global bioreactors market is expected to reach US$ 4,811.5 Mn in 2027 from US$ 2,850.2 Mn in 2018. The market is estimated to grow with a CAGR of 6.3% from 2019-2027.
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The growth of the bioreactors market is primarily attributed to the increasing investments in R&D and other activities.Moreover, the rapid growth of pharmaceutical and biotechnology industry is also expected to drive the growth of bioreactors market.
However, availability of alternative techniques for bioreactors and stringent regulatory framework is expected to obstruct the growth of bioreactors market.On the other hand, rapid use of single use bioreactors are expected to be trending in the manufacturing companies and research institutes in the market.
The single-use bioreactors are helpful in providing next-generation cell- and gene-therapies and continuous bioprocessing.The betterments and improvements in cell-culture processes have developed higher titers and cell densities, which have facilitated the adoption of single-use bioreactors through reductions in needed reactor volumes.
Single-use bioreactors reduce the risks of contamination from the other products and decrease production turnaround times. Moreover, reduction in validation time shortens time which is a tremendous value for the advanced development of the bio products. The S.U.B. combines elements of stirred-tank systems with the efficiencies in cleanup and validation found in single-use processing, and supports scale-up needs and optimal cell growth, viability, and general metabolism.
In 2018, the industrial scale (>1000L) bioreactors segment held a largest market share of 63.4% of the bioreactors market, by product class. This segment is also expected to dominate the market in 2027 owing to increasing demand for industrial scale (>1000L) bioreactors in biotechnology and pharmaceutical companies. However, the pilot scale (15 - 1000L) bioreactors segment is anticipated to witness the fastest growth rate of 6.8% during the forecast period, 2019 to 2027 owing to the increased use of pilot scale bioreactors for research purposes.
Global bioreactors market, based on application was segmented into microbial application and cell culture. Microbial application segment is anticipated to grow at a CAGR of 6.5% during the forecast period. The production of microbiologic and increasing government funding as well as promotional initiatives undertaken for usage of microbial products to treat medical conditions. Increasing R&D innovation in various other microbial applications has also been contributing significantly to the growth of the bioreactors market.
Some of the major primary and secondary sources for bioreactors included in the report are World Health Organization (WHO), International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), National Research Foundation (NRF), Biotechnology Industry Research Assistance Council (BIRAC), Canadian Institutes of Health Research (CIHR) and others.
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