Market Overview:
Bioreactors are used for industrial scale production of antibiotics, vaccines & monoclonal antibodies and other biopharmaceuticals. They provide controlled environmental conditions to support biological reaction required for production processes. Some key advantages of bioreactors are their ability to control pH, oxygen level, nutrient levels and temperature which fosters optimal cell growth during fermentation process.
Market key trends:
One of the major trend gaining traction in the bioreactors market is shift towards single use bioreactors. Single use bioreactors are pre-sterilized and disposable bioreactor systems designed specifically for manufacturing biopharmaceuticals. They eliminate the need for cleaning and sterilization of bioreactors between batches which reduces manufacturing costs and time to market. Their advantages over traditional stainless steel bioreactors such as lower investment costs, ease of use and scalability are fueling adoption among various end users in the bioreactors market.
Segment Analysis
The global bioreactors market is segmented based on product type, component, material, cell, application and end user. Based on product type, the market is segmented into benchtop bioreactor systems, microbioreactors, microcarrier-based bioreactors, stirred tank bioreactors, single-use bioreactors and others. Among these, single-use bioreactors dominate the market and are expected to continue their dominance over the forecast period due to advantages such as reduced risk of contamination, lower costs of operation and easy disposal.
The global Bioreactors Market Share is estimated to be valued at US$ 20.4 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Key Takeaways
The global bioreactors market is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing demand for biotherapeutic drugs and focus on cell-based research.
Regional analysis: North America dominates the global bioreactors market and is expected to continue its dominance over the forecast period as well. This is attributed to presence of major companies, large biopharmaceutical industry and availability of funds for research in the region. Asia Pacific is expected to be the fastest growing market over the forecast period due to growing biologics manufacturing, increasing government support for research and rising investments by major players in the emerging economies.
Key players operating in the bioreactors market are Applikon Biotechnology, Bionet Cytiva,Eppendorf. Key players are focussing on new product launches, partnerships and acquisitions to strengthen their presence in the market. For instance, in 2022 Bionet launched BIOSTAT B-DC single-use orbitally shaken bioreactor system.
