Bioreactor Market size worth over $16bn by 2027
Published Date: March 15, 2021 Authors: Sumant Ugalmugle, Rupali Swain
Bioreactor Market size is set to surpass USD 16 billion by 2027, according to a new research report by Global Market Insights, Inc.
Growing focus on development of novel vaccine against COVID-19 owing to rising cases and mortality has boosted the demand for bioreactors. Several research institutes and biotechnology-based product manufacturers have high demand for bioreactors for research and development of various potential vaccines and therapeutics for COVID-19.
Increasing awareness and development in personalized medicine worldwide will stimulate the adoption of bioprocessing equipment. Personalized medicine or individualized medicine allows professionals to deliver the best fit therapy for their patients and with its growing awareness, its acceptance is also rising. Bioreactors offer specialized environment for development and manufacturing of such therapeutics and can be scaled up or down as per requirement. Furthermore, bioreactors offer flexibility and scalability for novel research, thereby favoring the market growth.
Growing emphasis on development of preventive therapeutics will fuel the adoption of single-use bioreactors
Single-use bioreactors held around 20% of the bioreactor market share in 2020. Accelerating acceptance of single-use bioreactors for the development and research of vaccine against increasing number of infectious diseases including COVID-19 has been witnessed. Currently, single-use bioreactors manufactured by Applikon are being used by some universities to develop several viral vaccines simultaneously with maintenance of optimum conditions. Such favorable benefits offered to the researchers will eventually increase customer preference and spur its adoption rate over the coming years
Vigorous properties of bacterial cells will augment the segment growth
Bacterial cells segment is expected to observe 16.2% growth rate through 2027. Customizable and advanced bioreactors have aided culture of various cell types including bacterial cells. Bacterial cells are being used for production of several therapeutic products. With growing incidence and prevalence of numerous rare and chronic diseases, the demand for specific and efficient therapies has also risen. Also, as bacterial cells are robust and resistant to shear damage; hence, several organizations and research institutes are using these cells widely, thereby contributing to the segment revenue.
Browse key industry insights spread across 205 pages with 299 market data tables & 19 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 Usage (Developmental, Pre-clinical & Clinical, Commercial Production), By End-use (R&D Organizations, Biopharma Manufacturers, Contract Manufacturing Organizations [CMOs]), Industry Analysis, Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
Growing preventive and therapeutic applications of monoclonal antibodies will drive the market expansion
Monoclonal antibodies (mAb) segment exceeded USD 1.4 billion in 2020. Monoclonal antibodies are being broadly used for cancer treatment in targeted therapy. mAbs are at the forefront of medical research owing to their growing diagnostic and therapeutic applications. These molecules can be produced at high product concentration with ease and purity. In addition, availability of specialized bioreactor systems and solutions for mAbs and as per end-user preference will further favor the segment demand during the forecast timeline.
Expanding pharmaceutical industry will positively impact acceptance of bioreactors for commercial production
Commercial production segment accounted for more than USD 4 billion in 2020. Increasing patient pool has driven the pharmaceuticals sector as well as entry of newer firms in the industry. Thus, mass production of vaccines and therapeutics due to growing infectious and chronic diseases is influencing commercial production. Moreover, reusable bioreactors are more suitable for manufacturing of such products; thus, high cost of reusable bioreactors will further contribute to the segment size.
Funding for research projects will foster demand for bioprocessing systems
Research and development (R&D) organizations segment is projected to experience 17% CAGR till 2027 led by growing spending and funding for research and development of chronic diseases. For instance, in 2020, the European Commission reported about funding of around USD 89 million for ‘New Interventions for Non-Communicable Diseases’ research project. The project is aimed at investigating and better managing non-communicable diseases such as cancer, diabetes, respiratory diseases and cardiovascular diseases among others. Such initiatives and growing emphasis on new drug discovery will enhance segment value during the forecast period.
Rising penetration of emerging domestic market players in European region will showcase the significant market demand
Europe bioreactor market held over 35% of revenue share in 2020. Europe has large base of research institutes that are rapidly adopting bioreactors, especially those disposables in nature. The regional firms are also involved in bulk manufacture of novel therapies such as stem cell, monoclonal antibodies, vaccines and others. This creates attractive opportunities for various bioprocessing equipment including bioreactors. In addition, presence of several suppliers of bioreactor systems will drive the industry growth during the forecast timeframe.
Product innovations and launch will fortify companies’ business performance
Some of the notable companies operating in the market are Sartorius Stedim Biotech, Applikon Biotechnology, Danaher Corporation (Cytiva), Thermo Fisher Corporation and Eppendorf AG among others. These leaders are introducing new bioreactors with new technology.