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The Future of Bioreactors Market Trends to 2027 with New Principle and Updated Strategies accounted to US$ 2,850.2 Mn in 2018 and is expected to grow at a CAGR of 6.3% during the forecast period 2019 - 2027, to account to US$ 4,811.5 Mn by 2027

Press release   •   Mar 25, 2019 19:18 IST

The Asia Pacific bioreactors market is expected to grow at the highest rate during the forecast period owing higher number of research & development and increasing investments on bioreactors. In addition, the emergence of new local players with competitive product portfolio is expected to fuel the bioreactors market growth in Asia Pacific region.

The global bioreactors market accounted to US$ 2,850.2 Mn in 2018 and is expected to grow at a CAGR of 6.3% during the forecast period 2019 - 2027, to account to US$ 4,811.5 Mn by 2027.

Technological Advancements in Bioreactors

Advancement in the field of bioreactors and biotechnology has enhanced the market. Many industry players have come up with innovative types of bioreactors in last few years. The advancement in the bioreactors has led to the faster and easier production of the bio products, and reduced the cost of production. In addition, the investments from public and private investors are rising for the bioreactors. 

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For instance, in July 2017, Pall Corporation (subsidiary of Danaher) launched the mPath bioreactor control system to the biopharmaceutical market. The mPath benchtop bioreactor control system delivers accurate measurement and control of single-use process development-scale bioprocesses. Thus, technological advancements are expected to bring about innovative methods in the market thereby driving the global bioreactors market growth over the forecast years.

Product Class Insights

The global bioreactors market by product class was led by industrial-scale bioreactors segment. In 2018, the industrial scale (>1000L) bioreactors segment held a largest market share of 63.4% of the bioreactors market, by product class. This segment is also expected to dominate the market in 2027 owing to increasing demand for industrial scale (>1000L) bioreactors in biotechnology and pharmaceutical companies. However, the pilot scale (15 - 1000L) bioreactors segment is anticipated to witness the fastest growth rate of 6.8% during the forecast period, 2019 to 2027 owing to the increased use of pilot scale bioreactors for research purposes.

Application Insights

Microbial application segment is anticipated to grow at a CAGR of 6.5% during the forecast period. The production of microbiologic and increasing government funding as well as promotional initiatives undertaken for usage of microbial products to treat medical conditions. Increasing R&D innovation in various other microbial applications has also been contributing significantly to the growth of the bioreactors market.

Exhibit: Bioreactors Market, by Application


Strategic Insights

Geographic expansion and strategic agreements were observed as the most adopted strategy in global bioreactors industry. Few of the recent product launch and collaboration are listed below:

2018: In June 2018, Bioengineering opened its new branch-office in South Korea. This has helped the company to have a strong presence in the Asian countries

2017: In September 2017, Solaris Biotech launched its presence in the USA in the San Francisco Bay Area. The expansion is aimed to provide better service and customer support and to address the rising demand in the US market.

2017: In April 2017, Applikon Biotechnology has established an agreement with Sanyo Trading Scientific Instruments. (Japan). This helped Applikon to expand and establish a strong foothold in the Japanese market.


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BIOREACTORS - MARKET SEGMENTATION

By Product Class

  • Benchtop (up to15L) Bioreactors
  • Pilot Scale (15-1000L) Bioreactors
  • Industrial Scale(>1000L) Bioreactors

By Application

  • Microbial Application
    • Multi-Use Bioreactors
      • Glass Bioreactors
      • Stainless Steel Bioreactors
    • Single-Use Bioreactors
  • Cell Culture Application
    • Multi-Use Bioreactors
      • Glass Bioreactors
      • Stainless Steel Bioreactors
    • Single-Use Bioreactors

 

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