June 22, 2020
According to the research report titled ‘Bioreactors Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Cell; Molecule; Technology; End User, available with Market Study Report LLC, global bioreactors market was worth USD 2,958.50 million in the year 2019 and is expected to grow with a CAGR of 7.3% during the forecast period, subsequently reaching USD 5,169.01 million by the year 2027.
For the record, a bioreactor system is designed to offer biologically active environment that is controllable in terms of stress, temperature, nutrient supply, and pH levels of any cells. It is widely used for producing various pharmaceutical and medical compounds.
Rising adoption of single-use bioreactors for upstream bioprocessing applications and rapid growth of biotechnology and pharmaceutical industries are slated to enhance the remuneration scope of bioreactors market. Although the stringent regulatory frameworks may restrain the market growth over the study period.
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Bioreactors not only allow for better process flexibility, but also limit operational costs as well as reduce investment requirements. Several companies have developed single-use bioreactors to produce a wide range of therapeutics, which in turn is further fueling the market expansion. For instance, Distek Inc. has introduced a benchtop single-use bioreactor for producing recombinant proteins. Additionally, single-use bioreactors help in decreasing production turnaround times, lower the risk of contamination and reduce the validation time.
Based on molecule analysis, the market is bifurcated into gene therapy, monoclonal antibodies, vaccines, stem cells, recombinant proteins, and others. Although monoclonal antibodies segment held largest market share in the year 2019, the stem cell segment is anticipated to showcase the highest CAGR during 2020-2027.
In terms of cell type, the market is classified into yeast cells, bacterial cells, mammalian cells and others. As per technology type, the bioreactors market is divided into stirred SUB, wave-induced motion SUB, single-use bubble column, and others. Citing the end-use landscape, the market is split into contract manufacturing organizations (CMOs), research and development organizations, and biopharma manufacturers.
The key participants in global bioreactors market are Pall Corporation, MERCK KGaA, Cellexus International Ltd., bbi-biotech GmbH, Thermo Fisher Scientific Inc., PBS Biotech Inc., General Electric Company, GEA Group, Applikon Biotechnology BV, and Sartorius AG among others.