May 28, 2020 5:40 PM ET
iCrowd Newswire – May 28, 2020
Bioreactors Market for Monoclonal Antibodies to Grow at Fast Pace during Forecast Period
According to The Insight Partners market research study on “Bioreactors Market to 2027 – Global Analysis and Forecasts by Cell, Molecule, Technology, and End User”. The global bioreactors market is expected to reach US$ 5,169.01 Mn by 2027 from US$ 2,958.50 Mn in 2019. The market is estimated to grow at a CAGR of 7.3% from 2020 to 2027. The report provides trends prevailing in the global bioreactors market and the factors driving or restraining the market growth.
The global bioreactors market, based on molecule, is segmented into monoclonal antibodies, vaccines, recombinant proteins, stem cells, gene therapy, and others. The monoclonal antibodies segment held the largest share of the market in 2019. However, stem cell segment is estimated to register the highest CAGR in the market during the forecast period.
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A bioreactor is a device or system engineered or manufactured to support biologically active environment. These are vessels in which a chemical processes involving organisms or biochemically active substances derived from such organisms are carried out. The increasing adoption of single-use bioreactors, and rapid growth of the pharmaceuticals and biotechnology industries are among the prime factors driving the bioreactors market. Additionally, increasing number of technology and distribution collaborations is anticipated to drive the market growth in the coming years. However, stringent government regulations hamper the growth of the market. The developing healthcare infrastructure and increasing investments by biopharmaceutical companies are projected generate lucrative opportunities for the growth of the market.
Rapid Growth of Pharmaceuticals and Biotechnology Industries
In recent years, the pharmaceutical industry has been growing at an unprecedented pace. Big pharmaceutical companies and contract research organizations (CROs) are coming up with new medicines and therapy forms to treat a wide range of indications.
The biopharmaceuticals market is increasing. The strong demand for biologics and biosimilars has driven the growth of the industry. The biopharmaceutical industry is one of the most significant contributors to the economy. The US is the largest market for biopharmaceuticals and leader in biopharmaceutical R&D. As per the Pharmaceutical Research and Manufacturers Association (PhRMA), the US firms conduct over half the world’s R&D in pharmaceuticals (US$ 75 billion) and hold the highest number of patents in new medicines. Besides development economies, there have been rapid growth witnesses in the research environment in emerging economies such as Brazil, China, and India. Factors such as increasing biologics approval, growing biosimilar pipeline, and increasing investment in research activities are prime factors facilitating the growth of the industry.
Moreover, biopharmaceutical research activities are gaining pace in emerging economies such as Brazil, China, and India, and offering lucrative opportunities for the growth of the market. Apart from this, increasing approvals in gene and cell therapies are favoring the growth of the market. The approved gene therapies are Glybera-used to treat Lipoprotein Lipase Deficiency, and Strimvelis- treating ADA-Severe Combined Immuno Deficiency.
Based on cell, the bioreactors market is segmented into mammalian cells, bacterial cells, yeast cells, and others. In 2019 mammalian cells held the largest share of the market. However, Yeast cells segment is estimated to register the highest CAGR in the market during the forecast period.
Growing number of drug discovery projects, coupled with increasing adoption of bioreactors for biochemical activities, are projected to drive the market growth during the forecast period. Additionally, expanding capabilities of existing bioreactors on the back of the extended innovation processes are also expected to offer lucrative opportunities to the market players. The companies operating in the bioreactors market adopt the strategy of collaborations to enlarge customer base around the world, which also enables them to maintain their brand name globally.
The growth of the bioreactors market is attributed to the increasing research and development activities and rising number of biochemical processes across various domains. Leading companies operating in the bioreactors market are Thermo Fisher Scientific Inc., Applikon Biotechnology BV, Merck KGaA, Sartorius AG, PBS Biotech, Inc., General Electric, Bioengineering AG, Cellexus, Danaher (Pall Corporation), and bbi-biotech GmbH, among others.
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