Newark, NJ, June 03, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global bioreactors market is expected to grow from USD 4.91 billion in 2020 and to reach USD 8.82 billion by 2028, growing at a CAGR of 7.6% during the forecast period 2021-2028.
The bioreactors market is witnessing significant growth form the past years. The market for bioreactors has increased as the emphasis on developing a novel vaccine against COVID-19 has shifted due to an increase in cases and mortality. Bioreactors are in high demand for research and production of multiple possible vaccines and therapeutics for COVID-19 at many research institutes and biotechnology-based product manufacturers. The use of bioprocessing equipment will be aided by increased global knowledge and growth of personalized medicine. Personalized medicine, also known as individualized medicine, enables clinicians to provide the most appropriate care for their patients, and its adoption is increasing with its growing recognition.
The bioreactor is a piece of machinery used to establish optimal conditions for the development of microorganisms. A bioreactor is a structure or device that is engineered or built to sustain a biologically active ecosystem. In these vessels, chemical reactions involving animals or biochemically active substances derived from certain species take place. It's used in bioprocessing where bacteria or yeast are mixed together for reaction and fermentation, such as in antibiotic drug protection. Different types of bioreactors include airlift bioreactors, bubble column bioreactors, continuously stirred tank bioreactors, photo-bioreactors, and photo-bioreactors. They're used in the manufacturing of pharmaceuticals like monoclonal antibodies and vaccines, among other things. The adoption of biological products in the healthcare industry is growing due to their wide range of applications in industrial processing.
The bioreactors market is being driven by the rapid growth of the pharmaceutical and biotechnology sectors, as well as the growing adoption of single-use bioreactors. Furthermore, the market is expected to grow in the coming years as the number of technological and distribution collaborations increases. On the other side, government regulations stifle company growth. The expanding health-care infrastructure, as well as biopharmaceutical companies' acquisitions, are projected to create lucrative business opportunities. The COVID-19 outbreak, as well as a decline in global pharmaceutical R&D spending and a drop in biologics sales in 2020, would have a significant impact on the industry's development over the forecast period.
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Key players operating in global bioreactors market include Sartorius AG (Germany), PM Group (Ireland), Thermo Fisher Scientific, Inc. (U.S.),, GE Healthcare (A subsidiary of General Electric Company) (U.S.), Eppendorf AG (Germany), Amec Foster Wheeler plc (U.K.), Merck KGaA (Germany), Fluor Corporation (U.S.), Danaher Corporation (U.S), Jacobs Engineering Group Inc. (U.S.), M+W Group (Germany), and Technip S.A. (France). To gain a significant market share in the global bioreactors market, the key players are now focusing on adopting strategies such as mergers & acquisitions, product innovations, recent developments, collaborations, joint venture, and partnership. Eppendorf and Danaher are some of the key manufacturers operating in bioreactors market.
- For instance, in March 2020, Danaher announced the full acquisition of General Electric Life Sciences' CYTIVA biopharmaceutical company. This approach aided the organization in establishing a business presence.
- In February 2020, SciVario twin, a bioreactor controller device for small bench-scale bioreactors, was introduced by Eppendorf. The introduction of a next-generation bio controller allowed for remote monitoring of cell culture processes, expanding the company's product line.
Stirred-tank SUBs segment dominated the market and held the largest market share of 30.9% in the year 2020
On the basis of type, the global bioreactors market is segmented into wave-induced SUBs, stirred-tank SUBs, bubble-column SUBs, and other bioreactors. The stirred-tank SUBs segment dominated the market and held the largest market share of 30.9% in the year 2020. The high preference for stirred-tank SUBs in the cultivation of aerobic microbial cultures can be due to the wide share of this segment. Stirred-tank SUBs allow for more oxygen delivery while still reducing engineering problems including heat removal, mass transfer, and higher agitation rates.
Single-use bioreactor systems segment dominated the market and held the largest market share of 27.15% in the year 2020
On the basis of product, the global bioreactors market is segmented into single-use bioreactor systems, single-use media bags, single-use filtration assemblies and others. The single-use bioreactor systems segment dominated the market and held the largest market share of 27.15% in the year 2020. SUB systems have advantages such as reduced capital spending, lower maintenance costs, and a smaller environmental footprint, both of which are driving their use in biopharma applications.
Bioproduction segment dominated the market and held the largest market share of 39.15% in the year 2020
On the basis of application, the global bioreactors market is segmented into research & development, process development, and bioproduction. Bioproduction segment dominated the market and held the largest market share of 39.15% in the year 2020. Because of the use of single-use bioreactors in biomanufacturing and the growing demand for SUBs in CMOs due to advantages such as longevity and rapid scale-up, the bioproduction segment accounted for the largest share of the industry.
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Regional Segment of Bioreactors Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global bioreactors market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 25.16% in the year 2020. In 2020, North America had the highest market for single-use bioreactors, followed by Europe. Because of the growth of a well-established biopharmaceutical industry as well as major players in the single-use bioreactors market, North America has a large share of the regional segment.
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About the report:
The global bioreactors market is analysed on the basis of value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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