Aluminum Extrusion Market Is Driven By Demand From The Building And Construction Industry
The bioreactors market has witnessed significant growth in recent years owing to the widespread adoption of gene and cell therapies for treatment of cancer and other complex diseases. Bioreactors are advanced cell culture equipment used to grow and cultivate mammalian, bacterial or yeast cells and research organisms under closely monitored and controlled conditions. They provide optimum parameters like temperature, oxygen level, PH and nutritional components to replicate natural body environment which facilitates consistent and large scale production of therapeutic cells and proteins. The growing development and commercialization of genetically modified living organism based drugs and vaccines has boosted the demand for bioreactors.
The Global bioreactors market is estimated to be valued at US$ 23.62 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.
Market key trends
Single-use bioreactors are gaining popularity as they eliminate downtime, reduce capital investment and enhance process flexibility. Their ability to produce personalized medicines at smaller scale commercially and facilitate rapid drug development is propelling their demand. Additionally, growing application of continuous bioprocessing is expected to revolutionize biopharmaceutical production.
Porter's Analysis
Threat of new entrants: Low capital requirements and technological advancements have reduced barriers to entry. However, established players enjoy economies of scale and brand recognition.
Bargaining power of buyers: Large biotech companies have significant bargaining power over smaller players due to their size and financial strength. However, innovative new products increase buyer options.
Bargaining power of suppliers: A few major suppliers exist for critical components, allowing them to exert some pricing pressure. However, they still need access to large players to sell significant volumes.
Threat of new substitutes: Limited substitutes exist currently, though new technologies may provide alternatives in the future. Existing therapies still dominate for major applications.
Competitive rivalry: The market is highly competitive with major global players and niche local specialist. Players compete based on new product development, quality, pricing, and marketing.
Geographical Regions
North America currently dominates the Bioreactors Market Growth in terms of value share. This is owing to the large biopharmaceutical industry in the US and significant research & development expenditures.
The Asia Pacific region is expected to grow at the fastest rate during the forecast period. This can be attributed to increasing biologics production, rising biotechnology research, and improving healthcare infrastructure in major countries like China and India.
Key Takeaways
Key players operating in the bioreactors market are Pfizer, Inc., Novartis AG, Kite Pharma, Inc., Bluebird bio, Inc., Becton Dickinson and Company, Amgen, Inc., Vericel Corporation, uniQure N.V., Spark Therapeutics, Inc., Renova Therapeutics, Orchard Therapeutics plc, Kolon Tissue Gene, Inc., Human Stem Cell Institute, Dendreon Pharmaceuticals, Helixmith Co., Ltd (ViroMed Co., Ltd), Bausch & Lomb Incorporated, and Castle Creek Biosciences, Inc (Fibrocell Technologies, Inc.), among others.
The growing demand for continuous production of therapeutic cells and proteins is driving the bioreactors market. Biologics drug development has accelerated the need for cost-effective and scalable cell culture equipment like bioreactors. Their ability produce large quantities of consistent quality cells efficiently is increasing their adoption.
Globally, North America dominates the bioreactors market due to presence of major biotech and pharmaceutical companies and number of ongoing clinical trials. However, Asia Pacific region is expected to exhibit fastest growth over forecast period attributed to increasing R&D investments, healthcare expenditure and focus on biosimilar drugs development. Expansion of biotech clusters in China and India will further support regional market growth.
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Games
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness
- IT, Cloud, Software and Technology
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian