The global bioreactors market accounted to US$ 2,850.2 Mn in 2018 and is expected to grow at a CAGR of 6.3% during the forecast period 2019 – 2027, to account to US$ 4,811.5 Mn by 2027.
The Asia Pacific bioreactors market is expected to grow at the highest rate during the forecast period owing higher number of research & development and increasing investments on bioreactors. In addition, the emergence of new local players with competitive product portfolio is expected to fuel the bioreactors market growth in Asia Pacific region.
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Bioreactors Market – Company Profiles
- Thermo Fisher Scientific Inc.
- Applikon Biotechnology BV
- Merck KGaA
- Sartorius AG
- General Electric
- Bioengineering AG
- Solaris Biotechnology Srl
- Danaher (Pall Corporation)
- Praj Industries
In the recent years, pharmaceutical industry has been developing at an unusually rapid pace. Manufacturers along with their alliance with the contract research organizations (CROs) are confronting to the enormous healthcare challenges through new medicines, therapy forms, progressing digitalization and constantly changing the regulations. According to the World Health Organization, the global population is increasing by 1.24% per annum leading to rise in number of people in the geriatric class. The WHO also suggests that the proportion of people aged 65 to 80 will rise to 28% in 2030, compared to 22% in 2000. Additionally, increasing urbanization as well as rising number of middle income population is resulting into drug makers producing inexpensive and affordable medications leading to the market growth. These formulations are brought into the market that are passed through stringent regulatory guidelines to ensure patient safety. This is expected to increase the demand of the pharmaceutical and biotechnology companies to increase the demand of the bioreactors process to eliminate the virus in order to achieve the product with high quality and efficacy.
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Advancement in the field of bioreactors and biotechnology has enhanced the market. Many industry players have come up with innovative types of bioreactors in last few years. The advancement in the bioreactors has led to the faster and easier production of the bio products, and reduced the cost of production. In addition, the investments from public and private investors are rising for the bioreactors. For instance, in July 2017, Pall Corporation (subsidiary of Danaher) launched the mPath bioreactor control system to the biopharmaceutical market. The mPath benchtop bioreactor control system delivers accurate measurement and control of single-use process development-scale bioprocesses. Thus, technological advancements are expected to bring about innovative methods in the market thereby driving the global bioreactors market growth over the forecast years.
The global bioreactors market by product class was led by industrial-scale bioreactors segment. 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.
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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.
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