Bioreactor Market size was valued at over USD 500 million in 2016 and expects gains at over 18% by 2024.
Sellbyville, DE -- (SBWIRE) -- 01/14/2019 -- Bioreactor Market size is set to exceed USD 1.9 billion by 2024; according to a new research report by Global Market Insights, Inc.
Rising chronic disease prevalence and growing research in the field of biopharmaceuticals will drive the global bioreactor market size. Increased focus of biopharmaceutical companies to develop effective treatment options for orphan diseases should fuel industry growth.
Personalized medicines are changing the way many diseases are identified, classified, and treated. The growing personalized medicine market that involves a focused population base will further drive the bioreactor market size. A new manufacturing technology has evolved to provide more personalized drug products such as 3D bioprinting.
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Technological advances in manufacturing technology should improve flexibility, quality and scalability of operations with low capital and energy requirements. Innovative methods and analytical tools are projected to enhance process robustness, accelerate scale-up to industrial production and drive efficient use of resources.
Biopharmaceuticals are individualized products with highly specific manufacturing requirements. Advanced biopharmaceutical manufacturing technologies have enabled the development of effective drug delivery systems and drug device combination products. Increased collaboration in biopharmaceutical industry through partnerships with medical device manufacturers, diagnostic developers, academic institutions should propel business growth.
Biopharmaceutical contract manufacturing outsourcing should drive the industry growth due to rising demand for biopharmaceuticals along with innovative drug products entering the clinical trials. Large number of outsourcing services such as analytical, formulation, cell line development and small or large scale production related services should stimulate the business growth over the forecast years.
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Mammalian cells market revenue is estimated to exceed USD 1.5 billion by 2024. It is widely used owing to its preference to product complex therapeutic proteins and enhanced compatibility for posttranslational modifications.
Monoclonal antibodies held more than 35% of the bioreactor market share in 2016, owing to increasing use in medical therapeutics attributed to its long half-life, high specificity, predictable pharmacokinetics, low toxicity, and high dose demand. The mAb therapeutics segment should flourish over the forecast years due to promising industry pipeline.
Single use bubble column bioreactor market size should witness over 18% CAGR over the forecast years. It is extensively used for cell line development, process development, and clinical trial manufacturing wherein they enhance the overall speed and effectiveness of media and cell line development.
U.S. bioreactor market size was valued at over USD 170 million in 2016 and is anticipated to witness significant growth over the coming years due to biopharmaceutical industry participants' focus on new drug development processes and growing number of strategic collaboration with academic institutions as well as venture capital firms.
UK bioreactor market will witness over 17% CAGR, due to high healthcare spending and presence of large number of industry participants in this region. Increasing government initiatives to promote economic growth and improved quality of life should also drive industry growth.
APAC will experience significant gains due to a trend shift from traditional methods to new production methods of monoclonal antibodies, recombinant proteins, and cell culturing by using advanced bioreactors. High demand for single-use bioreactors with continue to stimulate regional industry growth.
Bioreactor market participants are Eppendorf, GE Healthcare, Merck Millipore, Sartorius, Thermo Fisher Scientific, etc. Industry participants engage in strategic collaborations, mergers & acquisitions coupled with new product launches in order to achieve competitive edge.
Bioreactor market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
Bioreactor Market, By Cell
- Mammalian cells
- Bacterial cells
- Yeast cells
- Other cells
Bioreactor Market, By Molecule
- Recombinant protein
- Stem cell
- Gene therapy
- Other molecules
Bioreactor Market, By Technology
- Wave-induced motion SUB
- Stirred SUB
- Stirred use bubble column
Bioreactor Market, By End Use
- Research and development (R&D)
- Biopharma manufacturers
- Contract manufacturing organisations (CMOs)
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
o South Korea
- Latin America
- Middle East and Africa
o South Africa