by Market Overview:
A bioreactor is a device that performs biochemical processes using biological material (cells, tissues, microorganisms, etc.) through optimal conditions. Bioreactors are widely used in producing biological and chemical using living organisms or their components as catalysts. They allow the cultivation of microorganisms such as bacteria and cell cultures under sterile conditions.
Market key trends:
The rise in demand for biotherapeutics and the increasing adoption of single-use technologies are some of the key factors driving the growth of the bioreactors market. Biotherapeutics such as monoclonal antibodies, gene therapies and vaccines are in high demand for the treatment of various chronic diseases. This has led to increased adoption of bioreactors for large-scale production of biotherapeutics. Additionally, single-use bioreactors are gaining more acceptance as they minimize cross-contamination risks, reduce validation requirements, and offer operational flexibility. This trend toward single-use technologies is expected to continue during the forecast period.
One of the key trends in the bioreactors market is the increased adoption of single-use bioreactors. Single-use bioreactors offer benefits like reduced risks of cross-contamination, lower capital costs, easy scale-up and limited downtime. Their growing popularity in biopharmaceutical production has been a major driver of growth in the bioreactors market.
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.
SWOT Analysis
Strengths: Single-use bioreactors reduce capital expenditure and operational costs. They offer advantages in terms of aseptic connections, scale-up flexibility and reduced validation requirements.
Weaknesses: Limited reusability of single-use bioreactors increases per unit costs. Cleaning and sterilization of traditional stainless steel bioreactors is difficult.
Opportunities: Increasing demand for biopharmaceuticals and process intensification can boost opportunities. Growing biologics markets in emerging countries provide room for growth.
Threats: Stringent regulatory norms add to compliance challenges. Challenges in bioprocess control and monitoring of single-use systems exist.
Key Takeaways
The global Bioreactors Market is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period of 2023 to 2030, due to increasing demand for biopharmaceuticals. The market size for bioreactors in 2023 is estimated to be US$ 20.4 Bn.
Regional analysis: North America dominated the global bioreactors market in 2022 due to presence of major players and rapid adoption of advanced technologies. Asia Pacific is projected to witness fastest growth during the forecast period, led by the expanding biopharma industry in countries like China and India.
Key players operating in the bioreactors market include Applikon Biotechnology, Cytiva, Eppendorf, and Bionet. Other prominent players are Merck KGaA, Sartorius AG, Thermo Fisher Scientific and GE Healthcare.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
