How Is The Single-Use Bio Reactors Market Expected To Grow Through 2024-2033
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033
According to The Business Research Company’s Single-Use Bio Reactors Global Market Report 2024, the single-use bio reactors market is expected to show promising growth in the forecast period.
- Market Overview
The single-use bio reactors market has witnessed rapid expansion, with a notable increase from $4.53 billion in 2023 to $5.39 billion in 2024, marking a Compound Annual Growth Rate (CAGR) of 19.1%. This surge can be attributed to several factors, including the growth of the biopharmaceutical industry, rapid bioprocess development, regulatory support, high adoption rates of precision medicine, and a rise in healthcare infrastructure.
- Future Projections
Anticipating exponential growth, the market is expected to reach $11.28 billion in 2028, boasting a CAGR of 20.3%. The forecasted growth is driven by the advent of personalized medicine and gene therapies, the expansion of biopharmaceutical research and development, increased healthcare spending, and a heightened focus on research and development. Noteworthy trends in this period include the integration of sensors and analytics, closed-system design, customization and modularity, as well as artificial intelligence (AI) and automation, leading to the rise of hybrid facilities.
- Clinical Trials Fueling Market Growth
The escalating number of clinical trials is a pivotal factor propelling the single-use bioreactor market. Clinical trials, which assess the safety, efficacy, and benefits of new medical treatments, have seen a substantial increase. Single-use bioreactors offer advantages such as rapid scalability, reduced cross-contamination risk, and shorter setup times, making them an ideal choice for accommodating the dynamic needs of clinical trials. The number of registered studies in August 2023 surpassed 464,000, showcasing the growing significance of single-use bioreactors in clinical research.
- Key Players in the Market
Major companies contributing to the growth of the single-use bio reactors market include:
- CESCO Bioengineering Co Ltd.
- PBS Biotech Inc.
- Solida Biotechnology GmbH
- ABEC Inc.
- Eppendorf AG
- Sartorius Stedim Biotech Sa Ltd.
- Danaher Corporation Ltd.
- Thermo Fisher Scientific Inc.
- GE Healthcare
- Merck Kgaa (Merck Millipore) Pvt Ltd.
- Distek Inc.
- Celltainer Biotech Bv Pvt.Ltd.
- Getinge AB
- Pall Corporation
- G&G Technologies Inc.
View More On The Single-Use Bio Reactors Market Report 2024 – https://www.thebusinessresearchcompany.com/report/singleuse-bioreactors-global-market-report
- Innovations Driving Market Growth
- Product Innovations: Major companies are focusing on launching innovative products to foster market growth. For instance, Thermo Fisher Scientific Inc. introduced single-use bioreactors with capacities of 3,000 liters and 5,000 liters, surpassing conventional size limitations. These systems offer increased scalability, an improved turndown ratio, and enhanced mixing capabilities.
- Donaldson’s Strategic Move: In June 2023, Donaldson Company, Inc. acquired Univercells Technologies for $148 million, strengthening its life sciences strategy. This acquisition aimed to broaden Donaldson’s product portfolio, ensuring the delivery of a comprehensive range of products in the single-use bioprocessing and bioreactor sector.
- Market Segmentation
The single-use bio reactors market is segmented based on:
- Type: Stirred-Tank SUBs, Wave-Induced SUBs, Bubble-Column SUBs, Other Types
- Molecule Type: Vaccines, Monoclonal Antibodies, Stem Cells, Recombinant Proteins
- Cell Type: Mammalian Cell, Bacteria, Yeast
- Application: Research And Development (R&D), Process Development, Bioproduction
- End User: Pharmaceutical And Biopharmaceutical Companies, Contract Research Organizations (CRO), Academic And Research Institutes, Contract Manufacturing Organizations (CMO)
- Regional Dynamics
- North America: The largest region in the single-use bioreactors market in 2023.
- Asia-Pacific: Expected to be the fastest-growing region in the forecast period.
In conclusion, the single-use bio reactors market is on a trajectory of remarkable growth, driven by factors such as the increasing number of clinical trials, product innovations, strategic acquisitions, and a comprehensive market segmentation strategy. As the biopharmaceutical industry continues to evolve, the market is expected to play a pivotal role in shaping the future of bioprocessing and research.
Request A Sample Of The Global Single-Use Bio Reactors Market Report 2024:
https://www.thebusinessresearchcompany.com/sample_request?id=6035&type=smp