The worldwide Bioreactors Market is anticipated to generate revenues over USD 550 million by 2024. It will grow at a CAGR above 18% in the forecast period (2016-2024). The industry is driven by the demand for biologics and adoption of single-use bioreactors (SUBs) & hybrid bioreactors. Rising popularity of SUBs in pharmaceutical manufacturing companies is yet another key driver.
SUBs or disposable bioreactors contain disposable bags instead of cultural vessels. They face high demand from the medical sector. These reactors are adopted by pharmaceutical companies to manufacture drugs without any negotiations on their quality. These systems differ in view of flexibility and cultural medium. Commercial bioreactors include CellMarket Regular from Cellexus and HyClone SUB from Thermo Fisher Scientific.
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Low functional costs of SUBs and low maintenance required for them can propel market demand from 2016 to 2024. Moreover, convenience associated with marine-microbe culturing coupled with low energy consumption by SUBs could favor these reactors. But low volume capacities of SUBs can hamper the industry.
The worldwide Bioreactors Market is fragmented on the basis of products, cells, molecules, technologies, end-users, and regions. Products include monoclonal antibodies and recombinant proteins. Monoclonal antibodies are projected to reign owing to their efficiency in medical treatments. Yeast, bacteria, and mammalian cells are the various cells. Mammalian cells should be the most rapidly growing segment. This will be attributed to their high bio-molecular effectiveness.
Recombinant proteins, monoclonal antibodies (MAbs), gene therapy, stem cells, and vaccines are classified under molecules. MAbs are used by biologics industry to manufacture vaccines. This may augments the demand for bioreactors in the next eight years. Low investment costs of SUBs to make MAbs on a small scale can add to overall market demand.
Single use bubble column bioreactor, stirred SUBs, and wave-induced motion SUBs constitute the technologies. Wave-induced motion SUBs are likely to notice the highest growth rate till 2024. Surging growth can be attributed to their high flexibility and short lead times.
End-users in the Bioreactors Market comprise R&D departments and biopharmaceutical manufacturers. The former are sub-divided into biopharmaceutical companies, contract research organizations (CROs), and research institutes.
Regions are Asia Pacific, North America, Europe, and RoW (Rest of the World). North America & Europe would garner major shares by 2024. This will be ascribed to their key biopharmaceutical firms.
Europe is predicted to capture large shares due to biologic drug patents reaching expiry. Also, regional assistance for biologic manufacturers to produce drugs with high effectiveness should benefit the region.
Asia Pacific is likely to display significant expansion because of investment opportunities for its major biologic manufacturers. Key firms opening their manufacturing units in Latin America will benefit the region.
Key companies in the global Bioreactors Market are GE Healthcare, Thermo Fisher Scientific Inc., Merck KGaA, and Sartorius Stedim Biotech S.A. They are expected to further their product portfolio and offer system flexibility.
This could make consumer segments well-acquainted with various blends of bioprocessing components. It can also help them with buying decisions. Product endorsements via commercial manufacturing to obtain the finest application solutions may augur well for the market.
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Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
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