The global bioreactors industry was accounting for $2.61 billion in 2020, and is expected to reach $7.32 billion by 2030, growing at a CAGR of 10.7% from 2021 to 2030.
Alarming rise in prevalence of chronic disease across the globe, advancements in R&D activities for cell culture & microbial application, rise in government and private funds for vaccine development and surge in demand for monoclonal antibodies are expected to notably contribute toward the growth of the global bioreactors market during the forecast period
The global bioreactors industry was accounting for $2.61 billion in 2020, and is expected to reach $7.32 billion by 2030, growing at a CAGR of 10.7% from 2021 to 2030.
Rise in technological developments for advanced bioreactors, advancements in R&D activities for novel biologic and microbial applications, and surge in demand for single-use bioreactors drive the growth of the global bioreactors market. However, high cost of bioreactors hinders the market growth. On the contrary, development of biotechnology and pharmaceutical industry is expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic presented unprecedented challenges for both consumer and the global economy. The manufacturing facilities were closed temporarily to curb the spread of infection, which hampered the supply chain and created dearth of raw materials and finished goods.
- The pandemic has stressed the healthcare system and increased the need for vaccine and monoclonal antibodies for prevention of Covid-19 infection. This increased the R&D in cell culture medium that grows in bioreactors.
An increase in research activities in order to provide effective cancer treatment with novel therapies, growing biotechnology and pharmaceutical industry, and surge in demand for personalized medicine is anticipated to drive growth of the bioreactors marked. In addition, development in the bioreactors design to optimize bioprocessing during drug development propels the growth of the market. Moreover, initiatives taken by governments for development of the research sector and increase in number of funds by private and government organization for vaccine development are the key factors that boost the growth of the market. In addition, rise in demand for personalized novel drugs and surge in R&D activities for treatment of chronic diseases such as cancer and heart disease, fuel the market growth.
The bioreactors market is segmented on the basis of type, usage, scale, control type and region.
By type, the single-use segment held the biggest offer in 2020, representing more than three-fifths of the global bioreactors market. Also, the fragment is relied upon to show the most elevated CAGR of 11.2% during the estimate time frame, because of flood sought after for biologic medications and drives taken by government for the improvement of the drug area.
By usage, the full-scale production segment is projected to enroll the most noteworthy CAGR of 11.5% during the gauge time frame, because of headways in R&D exercises for antibody improvement, expansion in reception of cutting-edge bioreactors, and ascend in commonness of ongoing infections. Notwithstanding, the pilot-scale creation portion held the biggest offer in 2020, adding to more than two-fifths of the worldwide bioreactors market, attributable to advancement in drug and biotechnology industry and flood in number for clinical and pre-clinical preliminary investigations.
By region, the market across North America held the biggest offer in 2020, representing more than one-third of the market, because of ascend in predominance of constant illnesses, presence of central members in assembling progressed bioreactors, and headways in R&D in biomedical exploration in the area. Nonetheless, the global bioreactors market across Asia-Pacific is expected to feature the most noteworthy CAGR of 12.3% during the conjecture time frame, inferable from ascend in commonness of ongoing illnesses, ascend sought after for novel biologic medications, and flood in the drug business.
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The Major Key Players Are:
BBI-Biotech GmbH, Bioengineering AG, Danaher Corporation, Eppendorf AG, Getinge, Infors HT, Merck KGAA, Sartorius AG, Solaris Biotech Solutions, and Thermo Fisher Scientific, Inc.
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