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Bioreactors And Fermenters Market Growth, Size, Share & Trends 2024-2033 | Competitive Landscape
Bioreactors And Fermenters Market Growth
According to The Business Research Company's, The bioreactors and fermenters market size has grown rapidly in recent years. It will grow from $3.60 billion in 2023 to $ 4.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to increasing demand for biopharmaceuticals, growing investments in research and development activities, expansion of the biotechnology industry, increasing focus on sustainable practices, and demand for personalized medicine.
The bioreactors and fermenters market size is expected to see rapid growth in the next few years. It will grow to $7.06 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to emerging biopharmaceutical companies, demand for vaccine production, focus on precision medicine, expansion of biotechnology research, rising investments in healthcare infrastructure. Major trends in the forecast period include increased adoption of next generation bioreactor technologies, expansion of bioproduction capacities in emerging markets, rise of integrated continuous bioprocessing, growing focus on sustainability and green bioprocessing, integration of artificial intelligence and machine learning.
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Market Drivers and Trends:
Increasing biotechnology investment is expected to propel the growth of the bioreactors and fermenters market going forward. Biotechnology investment refers to allocating financial resources, such as capital or funding, into companies, projects, or ventures within the biotechnology industry. Investments in biotechnology are increasing due to the growing demand for innovative healthcare solutions and advancements in genetic engineering. Biotechnology investment, which is essential for advancing biotechnological processes and accelerating biopharmaceutical production, provides funding for R&D activities focused on improving bioreactor and fermentor technologies. It also supports the scale-up and commercialization of bioreactor and fermentor technologies, facilitating their adoption in industrial biomanufacturing settings. For instance, in January 2022, according to the UK Biotech Financing Report published by the BioIndustry Association (BIA), a UK-based trade organization, the UK biotech sector witnessed substantial financial backing in 2021, with a total of $5.77 billion raised in both public and private financing. This marked an increase of $2.18 billion, or 60%, compared to 2020. Therefore, the increasing biotechnology investment is driving the growth of the bioreactors and fermenters market.
Major companies operating in the bioreactors and fermenters market are developing innovative technological solutions, such as Next-Gen bioreactor remote monitoring and control software, to increase their profitability in this market. Bioreactor remote monitoring and control software refers to specialized computer programs or systems that are designed to monitor, manage, and control bioreactors and fermenters from a centralized location, often through computer networks or the internet. For instance, in November 2023, The Cultivated B GmbH, a Germany-based biotechnology company, launched AUXO V, an innovative software that enables a real-time, application-based, personalized user interface with added remote accessibility for its AUXO V bioreactors. This next-generation bioreactor remote monitoring and control software provides a user-friendly system with real-time monitoring and personalized interfaces accessible remotely via phone and web-based platforms. The software allows for direct or remote control of bioprocesses, 24/7 monitoring for rapid intervention, and automated processes to optimize workforce allocation.
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Major Key Players of the Market:
Merck & Co. Inc, Thermo Fisher Scientific Inc, Danaher Corporation, GE Healthcare, Sartorius AG, Getinge AB, Eppendorf AG, ZETA Holding, Pierre Guerin SAS, Parr Instrument Company, Bionet Inc, PBS Biotech, Bioengineering AG, Finesse Solutions, Ollital Technology, Shanghai Bailun Biological Technology, Zhengzhou Laboao Instrument Equipment, Scigenics Pvt. Ltd, Infors AG, Synthecon Inc, Cellexus Ltd.
Bioreactors And Fermenters Market 2024 Key Insights:
• The bioreactors and fermenters market size is expected to see rapid growth in the next few years. It will grow to $7.06 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%.
• Biotechnology Investment Fuels Growth In The Bioreactors And Fermenters Market
• Innovations In Bioreactor Remote Monitoring And Control Software Transforming The Biotechnology Industry
• North America was the largest region in the bioreactors and fermenters market in 2023
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