MARKET OVERVIEW- GLOBAL BIOREACTORS AND FERMENTERS
Bioreactors and fermenters are devices used in various industries, including biotechnology, pharmaceuticals, food processing, and environmental engineering, to provide a controlled environment for the growth of microorganisms or cells. Fermenters are a bioreactor designed to cultivate microorganisms for producing specific substances like enzymes, proteins, antibiotics, or chemicals. While bioreactors and fermenters have similar functions and designs, they have some key differences. Fermenters are usually smaller and used for shorter fermentation processes, while bioreactors are larger and used for longer processes that require precise control over environmental conditions like temperature, pH, oxygen levels, and nutrient concentrations. Bioreactors and fermenters comprise a tank or vessel, an agitator or stirrer, a temperature and pH control system, and a system for introducing oxygen or other gases. Additionally, the vessel may have sensors to monitor various parameters and a system for adding nutrients and other additives to the culture.
MARKET DRIVERS
The demand for bioreactors and fermenters is increasing due to various factors. Firstly, the growing demand for biopharmaceuticals, including antibodies, vaccines, and hormones, is driving the need for this equipment for large-scale production. Secondly, technological advancements have led to the development of more efficient and cost-effective bioreactors and fermenters, thus driving their demand. Thirdly, the growing demand for personalized medicine requires the production of small batches of drugs, which can be facilitated by smaller-scale bioreactors and fermenters. Fourthly, the increasing investment in research and development activities drives the need for this equipment to conduct experiments and develop new products. The rising demand for biofuels such as ethanol and biodiesel is driving the need for bioreactors and fermenters for their production.
MARKET OPPORTUNITIES
The market for bioreactors and fermenters presents several avenues for expansion and creativity, particularly with the escalating need for biologics, biofuels, and personalized medicine. Here are some potential prospects for this market: Biologics Production: The bioreactor market has grown due to the rising demand for biologics like vaccines, monoclonal antibodies, and recombinant proteins. Bioreactors offer a regulated environment for cell growth that is essential in the production of biologics. Biofuels Production: Given the increasing demand for sustainable energy sources, the bioreactor and fermenter market provides an opening for the production of biofuels. Microorganisms such as algae, bacteria, and fungi can be cultured in bioreactors to produce biofuels. Personalized Medicine: Bioreactors are also suitable for producing personalized medicine, including cell and gene therapies. The controlled environment provided by bioreactors allows for the growth and differentiation of cells needed to produce personalized medicine. Industrial Biotechnology: The bioreactor and fermenter market has also expanded its use in industrial biotechnology, enabling the production of enzymes, bio-based chemicals, and biopolymers. Bioreactors offer a cost-effective and sustainable solution for the production of industrial biotechnology products. Emerging Markets: The bioreactor and fermenter market has significant potential in emerging markets, where the demand for biologics, biofuels, and industrial biotechnology products is on the rise. The increasing investments in healthcare, biotechnology, and renewable energy in these regions provide a platform for the growth of the bioreactor and fermenter market.
MARKET RESTRAINTS
The production of bioreactors and fermenters entails substantial costs in research and development as well as manufacturing, posing a formidable challenge for smaller enterprises seeking entry into the market. Additionally, these systems are highly specialized and intricate, requiring specific expertise in their design, installation, and operation, which may restrict the market to companies with significant resources and technical knowledge. Furthermore, as bioreactors and fermenters are utilized in the production of pharmaceuticals, vaccines, and other biologics, they are subject to strict regulatory compliance, leading to additional costs and delays in the production process. Lastly, the applications of these systems are limited primarily to biological production, potentially restricting the market to companies solely focused on this area.
MARKET GROWTH CHALLENGES
The high cost involved in the manufacturing, maintenance, and operation of bioreactors and fermenters presents a significant challenge for smaller companies looking to compete with larger players in the market. Additionally, the regulatory requirements governing the production of these products are strict, which can pose a hurdle for companies seeking approval for their products. Furthermore, the limited scalability of bioreactors and fermenters can be a hindrance for companies that need to produce large quantities of product to meet demand.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of Global Bioreactors and Fermenters market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in demand for Bioreactors and Fermenters in various applications is anticipated to stimulate the market’s growth. Due to this factor, the market is expected to witness growth at a specific CAGR from 2023-2029.
GLOBAL BIOREACTORS AND FERMENTERS SEGMENTAL OVERVIEW
The Global Bioreactors and fermenters market comprises of different market segments like, Type, Process, Fabrication Material, end-users and geography
GLOBAL BIOREACTORS AND FERMENTERS MARKET BY TYPE
By Type, Global Bioreactors and Fermentation Market includes key segments like
The global bioreactors and fermentation market is a rapidly growing industry due to the increasing demand for biopharmaceuticals, biologics, and biosimilars. Bioreactors are essential tools for the production of these products and are used in various applications such as research and development, clinical trials, and commercial production. The market is divided into two types of bioreactors: Single-use and multiple-use bioreactors. Single-use bioreactors are gaining popularity due to their lower capital cost, reduced cleaning validation, and improved flexibility. In contrast, multiple-use bioreactors are preferred for their higher capacity and ability to handle large-scale production. Factors such as technological advancements, increasing demand for biopharmaceuticals, and government initiatives supporting biotech research and development are expected to drive the growth of the global bioreactors and fermentation market. However, the market may face challenges such as high capital costs and complex regulatory requirements.
GLOBAL BIOREACTORS AND FERMENTERS MARKET BY PROCESS
By Process, Global Bioreactors and Fermentation Market includes key segments like
- Fed-Batch
- Continuous
- Batch
- Perfusion
The bioreactors and fermentation market is poised for significant growth in the near future, fueled by rising demand for industrial enzymes and biopharmaceuticals, as well as technological advancements in bioreactor equipment. The market can be segmented based on the process utilized, namely fed-batch, continuous, batch, and perfusion. Fed-batch processing is projected to have the largest market share due to its widespread usage in the production of various industrial enzymes and biopharmaceuticals. Continuous processing is expected to witness the highest growth rate owing to benefits such as increased productivity, reduced operational expenses, and enhanced product quality. The batch process is also expected to see substantial expansion since it is commonly employed in the production of cell therapies, small-molecule drugs, and vaccines. The perfusion process, which entails the constant removal of depleted medium and the addition of fresh medium, is projected to have moderate growth, attributed to its usage in the production of high-value biologics. The global bioreactors and fermentation market is expected to grow at a CAGR of approximately 8% during the forecast period spanning from 2022-2027, spurred on by the increasing demand for biopharmaceuticals and industrial enzymes, as well as advancements in bioreactor technology.
GLOBAL BIOREACTORS AND FERMENTERS MARKET BY FABRICATION MATERIAL
By Fabrication Material, Global Bioreactors and Fermentation Market includes key segments like
- Glass, Stainless Steel
- Plastic
Over the upcoming years, the bioreactors and fermentation market worldwide is anticipated to witness growth, which can be attributed to the rising demand for biofuels, biotechnology products, and biopharmaceuticals. Factors such as advancements in bioreactor technology, increasing investment in research and development (R&D) activities, and growing demand for personalized medicines are also expected to influence market growth. The market for bioreactors and fermentation can be categorized based on the materials used, namely glass, stainless steel, and plastic. The selection of material depends on several factors such as reaction conditions, the type of microorganisms, and the level of sterility required. Glass and stainless steel materials are commonly utilized in the bioreactors and fermentation market due to their high durability, ease of cleaning, and inertness. They are also preferred for large-scale production as they can withstand high pressures and temperature ranges. Plastic bioreactors are gaining popularity owing to their flexibility, ease of use, and lower cost. They can be easily sterilized and have good gas transfer properties, making them suitable for small-scale bioreactor applications. The bioreactors and fermentation market is expected to grow steadily due to increasing demand for biotechnology products and biopharmaceuticals. Although glass and stainless steel bioreactors are expected to dominate the market, plastic bioreactors are likely to gain traction due to their lower cost and user-friendliness.
GLOBAL BIOREACTORS AND FERMENTERS MARKET BY END USER
Global Bioreactors and Fermentation Market finds key End Users like
- Biopharmaceutical Companies
- Contract Research Organisation
- Academic and Research Institution
- Beverage Companies
The bioreactors and fermentation market is experiencing growth primarily due to three factors: the rising demand for biopharmaceutical products, increased investments in R&D by pharmaceutical companies, and the growing tendency to outsource bioproduction processes to contract manufacturing organizations (CMOs). Among the different end-users, biopharmaceutical companies are expected to dominate the market because of the high demand for biologics and biosimilars that require bioreactors for production. The contract research organization (CRO) segment is also expected to experience significant growth as more pharmaceutical companies outsource research activities. Academic and research institutions are likely to grow at a steady pace, given the increased focus on research and development in biotechnology. Beverage companies are also expected to witness moderate growth due to the growing demand for fermented beverages and the use of bioreactors in their production. The bioreactors and fermentation market is expected to maintain a steady growth trajectory in the foreseeable future, primarily driven by the increasing demand for biopharmaceutical products and the growing trend of outsourcing bioproduction processes.
GLOBAL BIOREACTORS AND FERMENTERS MARKET BY REGION
Global Bioreactors and Fermentation Market studied for following regions
- North America
- Europe
- Asia Pacific
- Rest of the World
The North American market is predicted to hold the largest revenue share during the forecast period due to an increased demand for alcoholic beverages, yogurt, yeast, and baked goods, as well as the presence of major alcoholic beverage companies in the region. Small and independent American craft brewers saw 8% growth in 2021, producing 24.8 million barrels of beer and increasing their overall market share in terms of volume to 13.1%. In Europe, the market is expected to experience a rapid revenue CAGR thanks to increased investment in biopharmaceutical research and development and collaborations between industry and academics. The European Commission has proposed a new pharmaceutical strategy that prioritizes patient-centered care and promotes investment in the development of novel antibiotics.
The market in Asia Pacific is forecasted to experience a steady revenue CAGR, driven by population growth, increasing chronic disease prevalence, and the boom in the pharmaceutical industry in the region due to cheap Active Pharmaceutical Ingredients (API) and low-cost labor. This is expected to drive the demand for bioreactors and fermenters for drug development and lead to revenue growth in the market.
COVID-19 IMPACT ANALYSIS ON GLOBAL BIOREACTORS AND FERMENTATION MARKET
Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the Global Bioreactors and Fermentation Market. In addition, complete analysis of changes on the Global Bioreactors and Fermentation Market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. The report also studies the impact of pandemic on Global economies, international trade, business investments, and GDP and marketing strategies of key players present in the market.
The global bioreactors and fermentation market has experienced both favorable and unfavorable consequences as a result of the COVID-19 pandemic. The pandemic has had a constructive effect by increasing the demand for bioreactors and fermentation products, which are vital in producing vaccines, antibiotics, and other pharmaceuticals that are highly sought after. As a result, the market has benefited from an upswing in the production of these products. However, the pandemic has also had an adverse impact on the market due to disruptions in the supply chain, leading to production and distribution delays. Many manufacturers have faced difficulties in meeting the demand as a result of labor and raw material shortages. Additionally, funding for research and development activities in the bioreactors and fermentation market has been reduced as a result of many organizations prioritizing their resources for the pandemic response. This has negatively affected the market.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Global Bioreactors and Fermentation Market is majorly focused on expanding the Global growth of Global Bioreactors and Fermentation od industry with new product innovation, and business expansion, the increasing presence of a range of manufacturers operating in Global Bioreactors and Fermentation has led the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required consumer demand, further contributing to healthy growth in the market.
The key players studied in market are
- Applikon Biotechnology Inc
- CESCO bioengineering co. ltd
- Thermo Fisher Scientific
- ABEC Inc
- Solaris Biotech
- Solida Biotech GmBH
- Eppendorf AG
- Distake Inc
- Merck KGaA
- GE Healthcare
- Pall Corporation
- PBS Biotech Inc
- Sartorius AG
- Bioengineering AG
- BBI Biotech GmBH
- Finesse Solutions Inc
- OmniBrx Biotechnologies
- Cellexus Ltd
RECENT DEVELOPMENT:
January 2021: PBS Biotech, Inc. has secured a funding of $10 million from BroadOak Capital Partners on 19th January 2021. The funds will be utilized to upscale manufacturing solutions for cell therapies and expand and commercialize their single-use bioreactor systems and contract process development services. The company's Vertical-Wheel technology is being used to achieve distinct mixing properties that have been demonstrated to be more effective than the conventional stirred-tank bioreactors.
