Bioreactors Market to cross USD 23 Billion by 2030, says Global Market Insights Inc.

Selbyville, Delaware , June 01, 2022 (GLOBE NEWSWIRE) —

The bioreactors market value is projected to reach USD 23 billion by 2030, according to a new research report by Global Market Insights Inc. Booming pharmaceuticals and biotechnology industry will boost the industry landscape.

Increasing demand for therapeutic drugs in the pharmaceutical industry will propel market revenue. Rising demand for monoclonal antibodies (mAb) due to the high prevalence of cancer. Furthermore, continuous developments in bioprocessing equipment, the high adoption of advanced technologies, and the rising demand for single-use bioreactors will fuel the market progression.
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Coronavirus infection has recently affected millions of people all over the world. Community transmission in some countries has caused an increase in global casualties. Currently, biopharmaceutical and biotechnological businesses are concentrating their efforts on COVID-19 vaccine research and development. The coronavirus outbreak has created unprecedented demand for bioreactors, with companies investing heavily in R&D and mass production.

Some major findings of the bioreactors market report include:

• Growing demand for single use bioreactors in past few years accelerated the overall market trends.
• Rising spending on pharmaceutical sector by government and companies will foster the market expansion.
• Increasing research and development expenditure in healthcare industry will positively influence the industry statistics.
• Ongoing clinical trials for novel therapeutics in healthcare industry will stimulate the industry outlook.
• The COVID-19 pandemic has positively impacted the the business landscape. The demand for single-use bioreactors has increased significantly in the pandemic owing to enhanced flexibility in validation, complexity, process security, and cost of goods.

Browse key industry insights spread across 205 pages with 299 market data tables & 20 figures & charts from the report, “Bioreactors Market Analysis By Product Type (Single-use, Reusable), Cell (Mammalian Cells, Bacterial Cells, Yeast Cells), Molecule (Monoclonal Antibodies, Vaccines, Recombinant Proteins, Stem Cells, Gene Therapy), Usage (Developmental, Pre-clinical & Clinical, Commercial Production), End-use (R&D Organizations, Biopharma Manufacturers, Contract Manufacturing Organizations [CMOs]), Industry Analysis, Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/bioreactor-market

Bioreactors market from single-use bioreactors segment is poised to witness 16.6% CAGR during analysis timeline. High adoption of single-use bioreactors owing to several advantages such as reduced flexibility, cross-contamination, increased productivity and cost-effectiveness. Growing trend towards multi-drug facilities will accelerate the segment revenue.

Stem cells segment exceeded USD 290 million in 2021. Increase in prevalence rate of cancer worldwide has resulted in widespread adoption of stem cell therapy. Stem cells replace the damaged cells in the body, allowing the donor’s immune system to battle against cancer and other diseases. Stem cells offers wide range of therapeutic applications in the treatment of cardiac and neuromuscular ailments. Moreover, rising government funding, increasing R&D expenditure by the biopharmaceutical organizations and expanding demand for cell-based products will spur the industry outlook.

Asia Pacific bioreactors market is estimated to witness 14% CAGR during the estimated period. Rising adoption of advanced technologies and strong presence of manufacturers with enhanced manufacturing capacity in healthcare sector will impel the regional market statistics. Furthermore, several governments are highly investing in healthcare and R&D activities will contribute to regional market growth potential. Regional market participants are proactively involved in research and development that offers several innovative products, as well as collaboration between domestic and international biotechnology and pharmaceutical organizations for mass production, which are expected to proliferate APAC market demand.

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Some of the major market players operating in the bioreactors market include Danaher Corporation, Merck Group, Thermo Fisher Scientific, Pierre Guerin SAS (Engie), Getinge (Applikon Biotechnology), Cellexus Ltd, CESCO Bioengineering Co. Ltd, Bbi Biotech, Shanghai Bailun Biotechnology co., Ltd., Sartorius Group Eppendorf AG, PBS Biotech, Eppendorf AG, Solaris Biotech Solutions, CerCell Aps, and GEA Group Aktiengesellschaft.

About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.