Bioreactors are vessels used to culture living cells and help produce therapeutic products such as vaccines, monoclonal antibodies, antibiotics, and recombinant proteins under controlled conditions. These bioreactors provide a protective and controlled environment for cell growth and allow cells to grow in large quantities for efficient production.
The global Bioreactors Market is estimated to be valued at US$ 20.5 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising demand for monoclonal antibodies and regenerative medicines is one of the key factors contributing to the growth of the bioreactors market. Monoclonal antibodies have wide applications in cancer treatment, inflammatory diseases, and infection control. With the increasing incidence of chronic diseases globally, demand for monoclonal antibodies is estimated to surge in the coming years. Moreover, advances in regenerative medicine have fostered the development of therapies involving stem cells and tissue engineering. Bioreactors play a vital role in culturing stem cells at a large scale, which is a prerequisite for the production of advanced therapies like gene and cell therapies. This is expected to boost the adoption of bioreactors over the forecast period.
SWOT Analysis
Strength: Bioreactors offer advantages like precise control over process parameters, flexibility in process and cell culture optimization, scalability.
Weakness: High initial investment required for setup of bioreactors. Technical challenges in controlling process parameters precisely at large scales.
Opportunity: Growing demand for monoclonal antibodies and therapeutic proteins drives the need for large scale production using bioreactors. Emerging markets in Asia Pacific offer growth opportunities.
Threats: stringent regulatory environment. Alternative production methods like fed batch technology gaining traction.
Key Takeaways
The global bioreactors market growth is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to reach US$ 20.5 Bn by 2024, expanding at a CAGR of 11%.
Regional analysis: North America dominates the global bioreactors market currently, supported by presence of major biotech and pharmaceutical companies and availability of technological and financial resources for R&D. Asia Pacific is anticipated to be the fastest growing regional market due to increasing biologics production and growing biotech industry in China, India and other emerging Asian countries.
Key players: Key players operating in the bioreactors market are Pfizer, Inc., Novartis AG, Kite Pharma, Inc., Bluebird bio, Inc., Boehringer Ingelheim, Merck & Co., Inc., Samsung Biologics Co., Ltd., GE Healthcare, and Sartorius AG. Pfizer and Novartis are the dominant players based on manufacturing experience and commercialization of biologics. Emerging players like Samsung Biologics focus on manufacturing partnerships with international biotech companies.
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- Source: Coherent Market Insights, Public sources, Desk research
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