Press release
Bioreactor Market Soaring at 18% CAGR During the Period 2017-2024
Progressing tissue engineering technologies, development of orphan drugs, and growing antibodies production are also identified as the typical trends which are significantly driving the bioreactors market share. Biopharma manufacturers, CMOs (Contract manufacturing organizations) and R&D organizations are the three predominant end-use industries in the worldwide bioreactor market. Holding more than 30% of overall bioreactor industry share in 2017, biopharmaceutical manufacturers have enabled effective drug delivery systems and combination products. The bioreactor industry is likely to spectate growing collaborations in biopharmaceutical sector through strategic partnerships with diagnostic developers, medical device manufacturers, and even academic institutions.
Bioreactor Market size is set to exceed USD 1.9 billion by 2024 and expects gains at over 18% by 2024; according to a new research report.
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Growing focus on R&D in biotechnology and increasingly rising chronic disorders are outlined as the prime drivers behind bioreactors market growth. The investments in the biopharmaceutical sector are soaring as demand for product innovation, and effective therapeutic vaccines are on a constant rise. Besides, favorable government initiatives to expand and improve healthcare infrastructure will further provide an impetus to bioreactors market. The surging precision medicine market has impelled personalized medical treatments for the patients, which, in turn, will favor the growth of bioreactor industry. As per the report compiled by Global Market Insights, Inc., the Global Bioreactor Industry is estimated to register 18% CAGR over the period of 2017-2024.
One such example is of Sartorius Stedim Biotech, a leading global supplier in the biopharmaceutical industry acquisition of U.S. start-up kSep Holdings, Inc. in 2017. kSep Systems leverages its innovation and engineering expertise to develop automated centrifugation systems which are widely used in manufacturing of monoclonal antibodies, cell-based therapeutics, and vaccines. This USD 28 million deal successfully expanded Sartorius’ bioprocessing solutions portfolio.
The growing number of pharmaceutical companies and technological advancements in the medical space is driving the U.S. bioreactor market size, slated to cross an industry valuation of USD 600 million by 2024. Germany bioreactor market accounted for more than 25% of Europe share and is anticipated to grow substantially over the years ahead, with the presence of leading industry players, favorable governmental policies, and rising healthcare expenditures.
Based on technology, bioreactor market is segmented into single use bubble column, wave-induced motion SUB, and stirred SUB technology. Accounting for more than one half of the global bioreactor industry share, the wave-induced motion SUB technology represents the biggest technological segment. Stirred SUBs is also set to accelerate its business with its growing demand in biopharmaceutical industry. Stirred SUBs market is anticipated to record more than 18% CAGR over the period of 2017-2024.
China bioreactor industry driven by rising prevalence of chronic diseases and increasing R&D investment in the region is further expected to record an annual growth rate of 19% over the time span of 2017-2024. An overall shift from traditional methods to new production techniques of monoclonal antibodies, cell culturing, and recombinant proteins will keep Asia Pacific bioreactor market growth perpetual.
The monoclonal antibodies occupied over 35% of the overall industry share by collecting revenue worth USD 190 million in 2017. Increasing application of the monoclonal antibodies molecule in the treatment of asthma, leukemia, breast cancers, etc. have attributed to the segment’s growth.
Taking into account the bioreactor market bifurcation based on type of cells, mammalian cells held over 75% of industry share. Furthermore, the yeast cells demand is projected to record a CAGR of 15% over the period of 2017-2024. Increasing research activities is likely to expand the business for bioreactors.
Eppendorf, Sartorius, GE Healthcare, Thermo Fisher Scientific, and Merck Millipore are some of the prominent players in bioreactor industry.
For more information on this report, please visit @ https://www.marketstudyreport.com/reports/bioreactor-market-size-by-cell-mammalian-cells-bacterial-cells-yeast-cells-others-by-molecule-monoclonal-antibodies-vaccines-recombinant-proteins-stem-cells-gene-therapy-others-by-technology-wave-induced-motion-sub-stirred-sub-single-use-bubble-column-other-sub-by-end-use-r-d-organizations-biopharma-manufacturers-cmos-industry-analysis-report-regional-outlook-u-s-canada-germany-uk-spain-italy-france-netherland-denmark-china-japan-india-south-korea-australia-singapore-brazil-mexico-uae-south-afri/?utm_source=RR&utm_medium=SK
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