According to the latest report by Reports and Data, the global Fermentation & Bioreactors Market size is projected to reach USD 7.04 Billion by 2030 at a CAGR of 10.0% through the forecast period. The key factor driving market revenue growth over the forecast period is the increasing popularity of single-use bioreactors among biopharmaceutical companies to cultivate biologics.
Fermentation & Bioreactors are culture systems used to produce organisms or cells in various applications, including the manufacturing of biopharmaceuticals, basic research & development, chemicals, food & food additives, and other products. Cultivating cells and microbes in bioreactors saves work, time, and lab-space, and it improves the reproducibility and efficiency of cell growth and product formation.
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The global Fermentation & Bioreactors market is expected to experience substantial growth due to the increasing focus of biologics manufacturers to scale-up production technologies for biologics. Additionally, the surging demand for personalized medicines, coupled with the rising number of FDA-approved orphan drugs, has led to increased bio production, which is expected to offer major opportunities for industry growth in the coming years.
Based on type, the single-use bioreactors segment is expected to account for the largest revenue share over the forecast period. The robust growth can be attributed to various benefits associated with single-use bioreactors, including easy setup for continuous processing and ease of use as 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 Fermentation & Bioreactors market revenue share over the forecast period based on application. The increasing usage of Fermentation & Bioreactors for cultivating a broad range of cell types and organisms, including cells (like mammalian insect cells, stem cells, cell lines), plant cells & algae, microorganisms (like bacteria, fungi, yeasts), and others, is the key factor driving growth in this segment.
The contract manufacturing organization (CMOs) segment is estimated to observe notable growth during the forecast period due to the growing outsourcing needs for biologics manufacturers as a result of increased demand for biologics.
In terms of the regional landscape, North America accounted for the largest revenue share in the Fermentation & Bioreactors market in 2020 and is expected to register a rapid revenue CAGR over the forecast period. Market growth is driven by growth in the number of bio manufacturing facilities and investments in this region. Moreover, 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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Key players operating in the global Fermentation & 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 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. The global Fermentation & Bioreactors market is segmented on the basis of type, application, and region, including single-use bioreactors, multiple-use bioreactors, biopharmaceutical companies, CROs, academic and research institutes, and others.
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