Bioreactors Market Rapid Growth of Pharmaceuticals and Biotechnology Industries

In recent years, the pharmaceutical industry has been growing at an unprecedented pace. Big pharmaceutical companies and contract research organizations (CROs) are coming up with new medicines and therapy forms totreat a wide range of indications.

The bio pharmaceuticals market is increasing. The strong demand microbiologist and dissimilar has driven the growth of the industry. Pharmaceutical industry is one of the most significant contributors to the economy. The US is the largest market for bio pharmaceuticals and leader pharmaceutical R&D. As per the Pharmaceutical Research and Manufacturers Association (PhRMA), the US firms conduct over half the world's R&D in pharmaceuticals (US$ 75 billion) and hold the highest number of patents in new medicines. Besides development economies, there have been rapid growth witnesses in the research environment in emerging economies such as Brazil,China, and India. Factors such as increasing biologics approval, growing biosimilar pipeline, and increasing investment in research activities are prime factors facilitating the growth of the industry.

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The growth of the bioreactors market is attributed to the increasing research and development activities and rising number of biochemical processes across various domains. Leading companies operating in the bioreactors market are Thermo Fisher Scientific Inc., Applikon Biotechnology BV, Merck KGaA, Sartorius AG, PBS Biotech, Inc., General Electric, Bioengineering AG, Cellexus, Danaher (Pall Corporation), and bbi-biotech GmbH, among others.

The bioreactors market was valued atUS$ 2,958.50 million in 2019 and is projected to reach US$5,169.01 million by2027; it is expected to grow at a CAGR of 7.3% from 2020 to 2027.

A bioreactor is a device or system engineered or manufactured to support biologically active environment. These are vessels in which a chemical processes involving organisms or biochemically active substances derived from such organisms are carried out.The increasing adoption of single-use bioreactors, and rapid growth of the pharmaceuticals and biotechnology industries are among the prime factors driving the bioreactors market. Additionally,increasing number of technology and distribution collaborations is anticipated to drive the market growth in the coming years.However, stringent government regulations hamper the growth of the market. The developing healthcare infrastructure and increasing investments by bio pharmaceutical companies are projected generate lucrative opportunities for the growth of the market.

Moreover, bio pharmaceutical research activities are gaining pace in emerging economies such as Brazil, China, and India, and offering lucrative opportunities for the growth of the market. Apart from this, increasing approvals in gene and cell therapies are favoring the growth of the market. The approved gene therapies are Glybera-used to treat Lipo protein Lipase Deficiency, and Strimvelis- treating ADA-Severe Combined Immuno Deficiency.

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Molecule Insights

Based on molecule, the bioreactors market is segmented into monoclonal antibodies, vaccines, recombinant proteins, stem cells, gene therapy, and others. The monoclonal antibodies segment held the largest share of the market in 2019.However, the stem cells segment is estimated to register the highest CAGR in the market during the forecast period.

Product Class

Based on product class, the bioreactors market is segmented into benchtop (Up To15 L), pilot scale (15 – 1000 L) and industrial scale(>1000 L). The bench top (Up To15 L) segment held the largest share of the market in 2019. However, pilot scale (15 – 1000 L) segment is estimated to register the highest CAGR in the market during the forecast period.

Material

Based on material, the bioreactors market is segmented into glass,stainless steel and single-use. The stainless steel segment held the largest share of the market in 2019. However, single-use segment is estimated to register the highest CAGR in the market during the forecast period.

Technology Insights

Based on technology, the bioreactors market is segmented into wave-induced motion SUB, stirred SUB, single-use bubble column, and others. In 2019, the wave-induced motion SUB segment held the largest share of the market.Increasing research and development spending across the globe on drug development are projected to drive the growth of the market for this segment during the forecast period. However,the stirred SUB technology segment is likely to register the highest CAGR during the forecast period.

End User Insights

Based on end user,the bioreactors market is segmented into research and development organizations, biopharma manufacturers, and contract manufacturing organizations (CMOs). In 2019, bio pharma manufacturers segment held the largest share of the market. The segment is also expected to register the fastest CAGR during the forecast period, and the projected growth of the market for this segment is ascribed to the increasing adoption of bioreactors in bio pharmaceuticals manufacturing plants.

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