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According to a recent report by Reports and Data, the global Bioreactors Market size is projected to reach USD 7.04 Billion by 2030, with a Compound Annual Growth Rate (CAGR) of 10.0% throughout the forecast period. The key factor driving the growth of the market is the increasing adoption of single-use bioreactors by biopharmaceutical companies to produce biologics.
Bioreactors and fermentors are systems used to produce organisms or cells for various applications such as manufacturing of biopharmaceuticals, basic research and development, chemicals, food and food additives, and other products.
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Cultivating cells and microbes in bioreactors can save time, work and lab-space while improving the efficiency and reproducibility of cell growth and product formation. The rising focus of biologics manufacturers to scale-up production technologies for biologics is expected to boost the market's growth. Additionally, the increased demand for personalized medicines and the rising number of FDA approved orphan drugs have led to increased bio-production, which in turn is expected to offer significant opportunities for the industry growth in the coming years.
The single-use bioreactors segment is expected to account for the largest revenue share in the market over the forecast period based on type. This growth can be attributed to various benefits associated with single-use bioreactors, including easy set-up for continuous processing and ease of use compared to stainless steel bioreactors. Single-use bioreactors also reduce maintenance costs and save space, as they do not require the same utility and piping infrastructure as traditional stainless-steel bioreactors.
The biopharmaceutical companies segment is expected to contribute significantly to the global Bioreactors market revenue share over the forecast period based on application. The increasing usage of Bioreactors for cultivating a broad range of cell types and organisms, including mammalian insect cells, stem cells, cell lines, plant cells & algae, microorganisms such as bacteria, fungi, yeasts, and others, is the key driver for the growth of this segment.
The contract manufacturing organization (CMOs) segment is also expected to observe notable growth during the forecast period on account of the growing outsourcing needs for biologics manufacturers as a result of increased demand of biologics. North America accounted for the largest revenue share in the Bioreactors market in 2020 and is expected to register rapid revenue CAGR over the forecast period. Market growth is driven by the growth in the number of bio-manufacturing facilities and investments in this region. Moreover, the active support of the regional governments to boost biologics production by providing funds to life science R&D will also contribute to revenue growth of the market over the forecast period.
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The key players operating in the global Bioreactors market include Sartorius AG BBI, GE Healthcare, Praj Hipurity Systems, Danaher (Pall), ZETA, Thermo Fisher, Pierre Guerin (DCI-Biolafitte), Bioengineering AG, Merck KGaA, Solaris, Applikon Biotechnology, Eppendorf AG, and Infors HT among others. Rising investments by the key industry players for R&D activities will bolster market growth over the analysis period.
The report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2028. Based on type, application, and region, the report segments the global Bioreactors market.
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