Bioreactors Market is anticipated to grow at a CAGR of 6.9% from 2020 to 2030.
Market Industry Reports (MIR) has published a new report titled “BioreactorsMarket- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global Bioreactors Market accounted for over US$ 1,247 million in 2019. It is anticipated to grow at aCAGR of 6.9% from 2020 to 2030.
A bioreactor is a closed system manufacturing device used for bioprocessing that supports the growth of cells andtissues. The process can be aerobic or anaerobic. Bioreactorsare usually designed in cylindrically shapes, and range in different sizes from liters to cubic meters.They are usedin various applications, including basic R&D;,manufacturing of biopharmaceuticals,food &food; additives, chemicals, and other products.Bioreactors are used to producepharmaceutical products such as antibiotics and insulin.
The market growth of bioreactorscan be attributed to factors, such asincreasingincidents of diseases, such as diabetes and cancers, globally. According to the International Diabetes Federation, in 2019, approximately 463 million adults, in the age group of 20-79 years were living with diabetes and by 2045 this number will rise to 700 million. Moreover, increasing investments in R&D; by major biopharmaceutical companies are also leading to market growth.
Other factors,suchas supportive government initiatives,areexpected to provide lucrative growth opportunities to the market. Moreover, technological advancements for the development of innovative products by the keyplayersare alsoboosting marketgrowth.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Bioreactors Market by Type (Single-Use, Stainless Steel, and Glass), Usage (Lab-Scale Production, Pilot-Scale Production, and Full-Scale Production), Scale (5L-20L, 20L-200L, 200L-1500L, and Above 1500L) andEnd User (Biopharmaceutical Companies/Manufacturers and R&D; Institutes/Departments)- Global Analysis & Forecast 2020-2030 in detail along with the table of contents:https://www.marketindustryreports.com/bioreactors-market/302
However, the high pricing of these bioreactors may lead to the use of alternative techniques to perform biological reactions. This may curb market growth to a certain extent.
Asia Pacific is estimated to be the fastest-growing region owing to expansion of the biopharmaceutical sector in this region. R&D; activities by key market players to develop innovative productswillalso support market growth inAsia Pacific. The presence of favorable government initiatives and growing healthcare awareness levels are also key growth contributors across this region.
Some of the prominent players in the global bioreactors market include Sartorius AG, Merck KGaA, Thermo Fisher Scientific Inc., Danaher., Eppendorf AG, Applikon Biotechnology B.V., Celltainer, Cellexus Ltd, Pall Corporation., Infors AG,and others.
Market Industry Reports is a global leader in market measurement and advisory services. It is a 100% subsidiary of ExlTech. The firm has always been at the forefront of innovations to address worldwide industry trends and opportunities. We offer our clients a unique depth of market intelligence in an actionable format to move their business forward. Our analysis incorporates consumer study in more than 100 countries, providing a tactical approach to drive sustained business growth. We continue to pioneer state-of-the-art approach in research & analysis that will help you to overcome complexities and stay ahead of the curve. By nurturing the perception of genius and optimized market intelligence, we unfold contingencies for our clients in the evolving world of technology, mega-trends, and industry convergence. We inspire our clients to empower and shape their businesses and to build world-class products.