Bioreactors market worth USD 1731.8 million by 2024 | Market Data Forecast
Posted by Shiva on August 9th, 2019
Bioreactors are big vessels employed in the industries that provide optimum conditions for the growth of microorganisms to carry out the biochemical process. Bioreactors are used to speed up the biochemical process such as fermentation and antibiotic drug production, where bacteria or yeast are added as inoculum to carry out the reaction. There are different kinds of bioreactors and continuously stirred tank bioreactors, bubble column bioreactors, airlift bioreactors, fluidized bed bioreactors, packed bed bioreactors, and photo-bioreactors. The world bioreactors market was valued USD 1242.4 million in 2019 and expected to be growing at a CAGR of 6.87%, to reach USD 1731.8 million by 2024.
Market drivers and restraints:
Rise in the shift to single-use technology and rise in incidences of lifestyle diseases such as diabetes and cancer that increases the demand for medicine production drives the market. In addition to that, growth in popularity of single-use bioreactor among biopharmaceutical companies and elevation in biologics fuels the market growth. Nevertheless, the low capacity of single-use bioreactor and concerns regarding extractable restraint the market growth.
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Report segmented as:
The Global market for Bioreactors is segmented based on Material, Scale, Production Size, Control Type, End Users and Suppliers. Based on Material - Glass, Stainless-Steel and Single use. Based on Scale – 5L-20L, 20L-200L, 200L-1500L and Over 1500L. Based on Production Size – Lab-Scale Production, Pilot-Scale Production, Full-Scale Production. Based on Control Type – Manual and Automated (MFCs). Based on End Users - R&D Departments, R&D Institutes, CRO’s, Biopharmaceutical Companies, Biopharmaceutical Manufacturers and CMO’s. Based on Suppliers - OEMs, System Integrators and EPCs.
Based on geography, the world bioreactor market is analyzed across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America presently leads the market for bioreactors and is expected to continue its stronghold for a few more years. This region is estimated to elevate its market share in the future due to the rise in collaborations among the industry and academic institutions.
Important market players:
The major players in this market are Finesse Solutions, Inc., Applikon Biotechnology B.V., PBS Biotech, Inc., Danaher Corporation, Sartorius AG, Eppendorf AG, ZETA Holding GmbH, GE Healthcare, Solaris Biotechnology srl, Pierre Guerin Technologies, Thermo Fisher Scientific Inc, and Merck KGaA.
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About the AuthorShiva
Joined: June 11th, 2019
Articles Posted: 88
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