Micro reactor Technology Market Shares Remain Clustered among Emerging Players || Key Players: Bronkhorst (U.K.) Ltd, Chemtrix B.V., Little Things Factory GmbH, Ehrfeld Mikrotechnik BTS
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A recent research study by Fact.MR finds that the microreactor sales reached 294 thousand units in 2018 and are projected to grow at a Y-O-Y of nearly 9% in 2019. Increasing competition among manufacturing companies in order to develop finer products remains a key aspect spurring the demand for microreactor technology. Ability of microreactor technology to facilitate effective and efficient drug synthesis is one of the key factors responsible for its rising adoption in the pharmaceutical industry.
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“Microreactor technology is also being widely acknowledged by various end-use industries for its ability to catalyze faster reactions, which also ensures higher yields of up to cent percent with no compromise in terms of quality. Microreactors have evolved as a standard tool for end users for ameliorating quality via accurate control of crucial operation parameters, ranging from pressure to space velocities”, Senior Analyst, Fact.MR
Reduction of Time-to-Market Aspect Fosters Adoption in Drug Development Processes
Drug development processes in the pharmaceuticals industry are witnessing notable refinements in the internal processes, in line with the evolving market pressures. With the drug development costs being extremely high, key pharmaceutical companies are vying to come up with new products in the market space and enhance research and development throughput. Ability of microreactor technology to decrease time-to-market, which remains one of the highly valued aspects, is empowering its adoption in case of drug development processes. Solid evidences demonstrating higher gains achieved, with reduced development times and enhanced productivity, have necessitated adoption of microreactor technology in the pharmaceutical landscape.
According to the report, microreactor technology market remains consolidated at the bottom, with the tier 3 or emerging players holding a considerable revenue share. Specific product segments and augmentation of volume sales remain two of the key focal points of these emerging players.
Fact.MR’s report offers actionable intelligence with a comprehensive opportunity assessment of the microreactor technology market. The report finds that the microreactor technology market is likely to grow at a volume CAGR of around 8% through 2028.
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