The global bioreactors and fermenters market is estimated to expand at a CAGR of 12.2% during the forecast period, 2016-2024.
Global Bioreactors and Fermenters Market: Overview
The global bioreactors and fermenters market is estimated to expand at a CAGR of 12.2% during the forecast period, 2016-2024. Thus, the market is estimated to gain a valuation of US$ 4,461.0 Mn by 2024.
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Bioreactors and fermenters are widely utilized in the creation of appropriate environment for the microorganisms’ growth. Furthermore, these devices are also useful in driving biochemically active substances created by such organisms. Fermenters find application in the development and maintenance of fungal or bacterial cells in a controlled atmosphere. Bioreactors are the bigger versions of fermenters that are extensively used in the biopharmaceutical industry for the production of biologics including recombinant proteins, vaccines, and monoclonal antibodies.
A research report by Transparency Market Research (TMR) gives in-depth analysis of many crucial factors impacting the growth of the bioreactors and fermenters market. Thus, readers gain complete assessment on growth drivers, restraints, challenges, trends, and expansion opportunities in the market for bioreactors and fermenters.
Analysts of the study by TMR have performed the segmentation of the global bioreactors and fermenters market based on many important parameters such as product type, process, end-user, and region. In terms of product type, the market is classified into single-use bioreactors and multiple-use bioreactors. Moreover, the market is divided into continuous, fed batch, and batch on the basis of process.
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Increase in Cases of Diseases Creates Business Prospects in Market
Due to many factors such as unhealthy eating habits and sedentary lifestyles, there is rise in the number of health issues across the globe. This situation has resulted into increasing the requirement for personalized medicines, biologics, and drugs for orphan diseases, which is creating sales prospects in the global bioreactors and fermenters market. Moreover, the market is being driven by increase in demand for bioreactors and fermenters by varied end-users such as CROs, academic & research institutes, and biopharmaceutical companies.
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Market Enterprises to Observe Lucrative Opportunities in North America and Europe
Various key regions supporting the growth of the global bioreactors and fermenters industry are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among all, Europe and North America are prominent regions holding 62% share of the global market for bioreactors and fermenters.
Some of the key factors making North America a dominating region include increasing use of single-use disposable bioreactors and rise in the adoption of advanced technologies in the bio-processing systems. Moreover, the regional market is prognosticated to experience higher growth prospects on the back of existence of many well-entrenched bioprocessing equipment producers and biopharmaceutical enterprises in the region.
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Asia Pacific to Offer Promising Business Prospects and Expand at CAGR of 14.3% during Forecast Period
Asia Pacific is estimated to provide lucrative prospects in the bioreactors and fermenters market owing to many factors such as presence of several emerging economies in the region. Moreover, increase in investments by international level biopharmaceutical enterprises and contract manufacturers is likely to bode well with the regional market growth in the years to come.
Players Focus on Collaboration and Acquisition Strategies to Expand Their Businesses
The global bioreactors and fermenters market is fragmented in nature. Presence of many well-established companies represents intense level of competition in the market. Thus to sustain in this competition, enterprises are utilizing strategies such as collaborations and acquisitions.
Many players in the bioreactors and fermenters industry are increasing investments in R&D projects, which are focused on the introduction of break-through features in their existing products. Besides, several companies are focused on the launch of next-gen products. Such efforts are likely to generate promising business prospects in the bioreactors and fermenters market in the upcoming years.
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Some of the key players operating in the global bioreactors and fermenters market include Applikon Biotechnology B.V., Finesse Solutions, Inc., Danaher Corporation, PBS Biotech, Inc., Eppendorf AG, Sartorius AG, GE Healthcare, ZETA Holding GmbH, PIERRE GUERIN TECHNOLOGIES, Solaris Biotechnology srl, Merck KGaA, and Thermo Fisher Scientific Inc.
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