Bioreactors Market to Garner $7.32 Bn, Globally, by 2030 at 10.7% CAGR: Allied Market Research
Rise in technological development for advanced bioreactors and surge in demand for single-use bioreactors drive the growth of the global bioreactors market.
PORTLAND, Ore., Aug. 9, 2021 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Bioreactors Market by Type (Glass, Stainless Steel, and Single-Use), Usage (Lab-Scale Production, Pilot-Scale Production, and Full-Scale Production), Scale (5L-20L, 20L-200L, 200L-1500L, and Above 1500L), and Control Type (Manual, and Automated): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, 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.
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Major determinants of the market growth
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.
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.
The single-use segment dominated the market growth
By type, the single-use segment held the largest share in 2020, accounting for more than three-fifths of the global bioreactors market. Moreover, the segment is expected to manifest the highest CAGR of 11.2% during the forecast period, due to surge in demand for biologic drugs and initiatives taken by government for the development of the pharmaceutical sector.
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The full-scale production segment to manifest the highest CAGR through 2030
By usage, the full-scale production segment is projected to register the highest CAGR of 11.5% during the forecast period, due to advancements in R&D activities for vaccine development, increase in adoption of advanced bioreactors, and rise in prevalence of chronic diseases. However, the pilot-scale production segment held the largest share in 2020, contributing to more than two-fifths of the global bioreactors market, owing to development in pharmaceutical and biotechnology industry and surge in number for clinical and pre-clinical trial studies.
North America held the largest share
By region, the market across North America held the largest share in 2020, accounting for more than one-third of the market, due to rise in prevalence of chronic diseases, presence of key players in manufacturing advanced bioreactors, and advancements in R&D in biomedical research in the region. However, the global bioreactors market across Asia-Pacific is anticipated to showcase the highest CAGR of 12.3% during the forecast period, owing to rise in prevalence of chronic diseases, rise in demand for novel biologic drugs, and surge in the pharmaceutical industry.
Major market players
- BBI-Biotech GmbH
- Danaher Corporation
- Bioengineering AG
- Getinge
- Eppendorf AG
- Merck KGAA
- Infors HT
- Solaris Biotech Solutions
- Sartorius AG
- Thermo Fisher Scientific, Inc.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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