Scienza e Tecnologia
Bioreactors Market Size to Reach USD 2,482.5 Million in 2030 | Rising Demand for Therapeutically Active Vaccines is a Key Factor Driving Industry Demand, says Emergen Research
Increased usage of single-use bioreactors by biopharmaceutical companies and research institutions is driving revenue growth of the bioreactors market to a significant extent during the forecast period. Single-Use Bioreactors (SUBs) are more cost-effective and flexible than traditional bioreactors for small-scale research and lab-scale applications. Usage of SUBs for biopharmaceutical production has been increasing since it is more cost-effective for small-scale operations, and this is expected to continue driving market revenue growth.
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Regulatory concerns about the use of bioreactors, as well as increasing stringent government policies are expected to hamper market revenue growth. Also, the market revenue growth is being hampered by a lack of adequate storage facilities, vulnerability to leaching, and transportation. Moreover, the large-scale disposal of plastic derivatives is becoming a growing environmental concern, hindering market revenue growth during the forecast period.
The global bioreactors market is expected to register a CAGR of 6.5% over the forecast period and revenue is expected to increase from USD 1,503.5 Million in 2022 to USD 2,482.5 Million in 2030. Rising incidence of lifestyle diseases such as diabetes and cancer is a major factor driving revenue growth of the market.
The Covid-19 pandemic posed unprecedented challenges across the healthcare sector as well as research centers, laboratories, and consumers as well as the global economy. Manufacturing facilities were temporarily closed to prevent spread of the infection, causing supply chain disruption and shortage of raw materials and finished goods. The pandemic has strained the healthcare system, necessitating rapid development of vaccines and monoclonal antibodies to prevent further infection. This also resulted in increased R&D in cell culture medium, which grows in bioreactors.
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Significant R&D investments, rising adoption of single-use bioreactors, technological advancements in bioreactors, and rapid growth of pharmaceutical and biotechnology industries are trends in the market.
Bioreactor innovations help to advance biological processes. Among the innovations are process analytical technology, continuous manufacturing, and single-use devices. Single-use bioreactors have been widely used in industrial biomanufacturing facilities. They offer lower contamination, multiple biologics output, and enable manufacturing of multiple goods on the same floor.
Market in Asia Pacific is expected to register a significantly rapid revenue growth rate during the forecast period. Rapid market revenue growth is attributable to rising demand for bioreactors and increasing number of companies focusing on expanding their business in different countries, rapidly growing biopharmaceutical and biotechnology industries, and increasing adoption of single-use bioreactors.
Some major companies included in the global market report are Fluor Corporation, Jacobs Engineering Group Inc., M+W Group GmbH, Faithful+Gould, Flad Architects, CRB Consulting Engineers, Inc., Solaris, Biotech Solutions, Danaher Corporation, INFORS HT, and Merck KGaA.
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