According to a new market research study titled “Bioreactors Market – Global Analysis and Forecasts By Product Class, Application, Process”, the global bioreactors market is expected to reach US$ 4,811.5 Mn in 2027 from US$ 2,850.2 Mn in 2018. The market is estimated to grow with a CAGR of 6.3% from 2019-2027. The report highlights the trends prevalent in the global bioreactors market and the factors driving the market along with those that act as deterrents to its growth.
Global bioreactors market, based on the product class was segmented into benchtop (Up To15l), pilot scale (15 – 1000L) and industrial scale (>1000L). 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.
The market for bioreactors is expected to grow due to rapid growth of biotechnology & pharmaceutical industry, technological advancements and increasing investments in R&D and others activities. In addition, growth of pharmaceutical and medical device outsourcing as well as high potential of emerging nations are likely to have a positive impact on the growth of the bioreactors market in the coming years.
For More Information Ask For Sample Report @ https://www.theinsightpartners.com/sample/TIPHE100000880/
- Thermo Fisher Scientific Inc.
- Applikon Biotechnology BV
- Merck KGaA
- Sartorius AG
- General Electric
- Bioengineering AG
- Solaris Biotechnology Srl
- Danaher (Pall Corporation)
- Praj Industries
Rapid growth of pharmaceutical and biotechnology industry is expected to boost the market growth over the years
In the recent years, pharmaceutical industry has been developing at an unusually rapid pace. Manufacturers along with their alliance with the contract research organizations (CROs) are confronting to the enormous healthcare challenges through new medicines, therapy forms, progressing digitalization and constantly changing the regulations. According to the World Health Organization, the global population is increasing by 1.24% per annum leading to rise in number of people in the geriatric class. The WHO also suggests that the proportion of people aged 65 to 80 will rise to 28% in 2030, compared to 22% in 2000.
Additionally, increasing urbanization as well as rising number of middle income population is resulting into drug makers producing inexpensive and affordable medications leading to the market growth. These formulations are brought into the market that are passed through stringent regulatory guidelines to ensure patient safety. This is expected to increase the demand of the pharmaceutical and biotechnology companies to increase the demand of the bioreactors process to eliminate the virus in order to achieve the product with high quality and efficacy.
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. 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.
Purchase this Premium Report @ https://www.theinsightpartners.com/buy/TIPHE100000880/
Reasons to Buy:
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the bioreactors market.
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the global bioreactors market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution
Contact Person: Sameer Joshi
Email Id: email@example.com
About The Insight Partners:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.