Bioreactor Market size worth over $12bn by 2026
Published Date: September 11, 2020 Authors: Sumant Ugalmugle, Rupali Swain
Bioreactor Market size is set to surpass USD 12 billion by 2026, according to a new research report by Global Market Insights, Inc.
Growing geriatric population, rising incidence of chronic disorders and increasing healthcare expenditure by the government will positively impact the market growth. Bioreactors are generally used in the pharmaceutical and biotechnology industry to produce biologics, biochemically active substances and other products. Moreover, wide adoption of technology and collaborations of major market players is anticipated to drive the market revenue.
Rising prevalence of infectious diseases will escalate the use of bioreactors for vaccine development
Due to outbreak of COVID-19, there has been an upsurge in the mortality rate of the patients. Thus, to control the pandemic, the need for vaccine development has increased, thereby escalating the demand for bioreactors in the manufacturing industry. The usage of bioreactors for the development of medicines and other biological products will witness lucrative growth. There is a growing trend towards outsourcing for fast and efficient manufacturing. Market leaders are investing heavily in research and development, thus leading to surge in the use of bioreactors.
Increasing preference towards multi-drug facility with cost efficiency, flexibility and quality products will augment the use of single-use bioreactors
Single-use bioreactors held over 19% revenue share in 2019 owing to benefits such as cost efficiency, reduced cross contamination, less usage of raw materials for the processing and increased productivity. Furthermore, developing research and development infrastructure in emerging nations will influence the market expansion.
Browse key industry insights spread across 150 pages with 223 market data tables & 10 figures & charts from the report, “Bioreactor Market Size, by Product Type (Single-use, Reusable), By Cell (Mammalian Cells, Bacterial Cells, Yeast Cells), By Molecule (Monoclonal Antibodies, Vaccines, Recombinant Proteins, Stem Cells, Gene Therapy), By End-use (R&D Organizations, Biopharma Manufacturers, CMOs), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
Growing demand for orphan and personalized drugs will spur the use of mammalian cells
Mammalian cells segment valuation was more than USD 3.2 billion in 2019. Increasing demand of biologic drugs, biotherapeutic proteins and advantages such as better growth kinetics, cell development, and process monitoring control will boost the use of bioreactors for mammalian cells. Additionally, production of better-quality products and increased productivity will impel the segment value.
Gene therapy adoption will escalate with rising adoption of advanced technologies and therapies for better medical treatment
The gene therapy segment will showcase growth of around 16.2% through 2026 led by growing cases of people suffering from cancer, leukemia and other chronic disorders. Also, this therapy can be used to treat various genetic disorders and gene modification of cells.
Increasing incidence of chronic disorder will observe rise in biologics development in biopharma industry
Biopharma manufacturers end-use segment will observe substantial growth during the forecast timeline. Growing number of chronic disorders coupled with rising research funding by government and key market players will propel the segment growth.
Increasing healthcare expenditure coupled with various initiatives will fuel the APAC market share
Asia Pacific bioreactor market size is projected to expand at 17% CAGR till 2026 on account of increasing incidence of chronic disorders, growing healthcare expenditure and rising awareness among population. In addition, entry of major companies and increasing research and development activities will expand the regional market. Moreover, improving supply chain management and introduction of new vaccines will further escalate the demand for bioreactors in the region.
New product development and technological advancements will increase the industry growth potential
Some of the key participants operating in the market include Thermo Fisher Scientific, GE Healthcare, Merck Group, and Sartorius Stedim Biotech Group among other players. These major industry players primarily have adopted various inorganic growth strategies such as mergers and acquisitions, partnerships & collaborations, new product development to capitalize on market opportunities.