Bioreactors Market Size to Reach USD 2,482.5 Million in 2030 | Rising Demand for Therapeutically Active Vaccines is a Key Factor Driving Industry Demand, says Emergen Research
VANCOUVER, BC, Feb. 15, 2022 /PRNewswire/ -- The global bioreactors market size is expected to reach USD 1,407.6 Million in 2021 and register a revenue CAGR of 6.5% over the forecast period, according to latest analysis by Emergen Research. Increasing biopharmaceutical investments, rising prevalence of chronic diseases, product innovation, and favorable government initiatives to develop more modernized healthcare infrastructure are some major factors expected to drive market revenue growth.
Drivers:
Increased usage of single-use bioreactors by biopharmaceutical companies and research institutions is driving revenue growth of the bioreactors market to a significant extent during the forecast period. Single-Use Bioreactors (SUBs) are more cost-effective and flexible than traditional bioreactors for small-scale research and lab-scale applications. Usage of SUBs for biopharmaceutical production has been increasing since it is more cost-effective for small-scale operations, and this is expected to continue driving market revenue growth.
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Restraints:
Regulatory concerns about the use of bioreactors, as well as increasing stringent government policies are expected to hamper market revenue growth. Also, the market revenue growth is being hampered by a lack of adequate storage facilities, vulnerability to leaching, and transportation. Moreover, the large-scale disposal of plastic derivatives is becoming a growing environmental concern, hindering market revenue growth during the forecast period.
Growth Projections:
The global bioreactors market is expected to register a CAGR of 6.5% over the forecast period and revenue is expected to increase from USD 1,503.5 Million in 2022 to USD 2,482.5 Million in 2030. Rising incidence of lifestyle diseases such as diabetes and cancer is a major factor driving revenue growth of the market.
COVID-19 Impact Analysis:
The Covid-19 pandemic posed unprecedented challenges across the healthcare sector as well as research centers, laboratories, and consumers as well as the global economy. Manufacturing facilities were temporarily closed to prevent spread of the infection, causing supply chain disruption and shortage of raw materials and finished goods. The pandemic has strained the healthcare system, necessitating rapid development of vaccines and monoclonal antibodies to prevent further infection. This also resulted in increased R&D in cell culture medium, which grows in bioreactors.
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Current Trends and Innovations:
Significant R&D investments, rising adoption of single-use bioreactors, technological advancements in bioreactors, and rapid growth of pharmaceutical and biotechnology industries are trends in the market.
Bioreactor innovations help to advance biological processes. Among the innovations are process analytical technology, continuous manufacturing, and single-use devices. Single-use bioreactors have been widely used in industrial biomanufacturing facilities. They offer lower contamination, multiple biologics output, and enable manufacturing of multiple goods on the same floor.
Geographical Outlook:
Market in Asia Pacific is expected to register a significantly rapid revenue growth rate during the forecast period. Rapid market revenue growth is attributable to rising demand for bioreactors and increasing number of companies focusing on expanding their business in different countries, rapidly growing biopharmaceutical and biotechnology industries, and increasing adoption of single-use bioreactors.
Strategic Initiatives:
Some major companies included in the global market report are Fluor Corporation, Jacobs Engineering Group Inc., M+W Group GmbH, Faithful+Gould, Flad Architects, CRB Consulting Engineers, Inc., Solaris, Biotech Solutions, Danaher Corporation, INFORS HT, and Merck KGaA.
- In March 2020, Danaher announced the complete acquisition of the biopharma business of General Electric Life Sciences, called CYTIVA. This strategy helped the company in setting up a footprint in the market.
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Emergen Research has segmented the global bioreactors market on the basis of material type, range, control type, suppliers, production scale, end-use, and region:
- Material Type Outlook (Revenue, USD Million; 2019–2030)
- Glass
- Single-Use
- Stainless Steel
- Range Outlook (Revenue, USD Million; 2019–2030)
- 5L-20L
- 20L-200L
- 200L-1500L
- Above 1500L
- Control Type Outlook (Revenue, USD Million; 2019–2030)
- Manual
- Automated
- Suppliers Outlook (Revenue, USD Million; 2019–2030)
- OEMs
- EPCs
- System Integrators
- Production Scale Outlook (Revenue, USD Million; 2019–2030)
- Lab-Scale Production
- Pilot-Scale Production
- Full-Scale Production
- End-Use Outlook (Revenue, USD Million; 2019–2030)
- R&D Departments
- R&D Institutes
- Biopharmaceutical Manufacturers
- Biopharmaceutical Companies
- Contract Manufacturing Organizations (CMOs)
- Contract Research Organizations (CROs)
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- Regional Outlook (Revenue, USD Million; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Benelux
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabi
- UAE
- South Africa
- Turkey
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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