Overview and Scope
Bioreactors and fermenters are specialized systems used in biotechnology and industrial processes for the cultivation and growth of microorganisms, cells, or tissues by providing a controlled environment. These are used in the development and optimization of bioprocesses for the production of bio-based products. A bioreactor is a vessel developed for growing microorganisms or cells under controlled conditions for biotechnological processes, while a fermenter is a type of bioreactor specifically designed for microbial fermentation and used to produce enzymes, antibiotics, and biofuels.
Sizing and Forecast
The bioreactors and fermenters market size has grown rapidly in recent years. It will grow from $3.60 billion in 2023 to $ 4.12 billion in 2024 at a compound annual growth rate (CAGR) of 14.3%. The growth in the historic period can be attributed to increasing demand for biopharmaceuticals, growing investments in research and development activities, expansion of the biotechnology industry, increasing focus on sustainable practices, and demand for personalized medicine.
The bioreactors and fermenters market size is expected to see rapid growth in the next few years. It will grow to $7.06 billion in 2028 at a compound annual growth rate (CAGR) of 14.5%. The growth in the forecast period can be attributed to emerging biopharmaceutical companies, demand for vaccine production, focus on precision medicine, expansion of biotechnology research, rising investments in healthcare infrastructure. Major trends in the forecast period include increased adoption of next generation bioreactor technologies, expansion of bioproduction capacities in emerging markets, rise of integrated continuous bioprocessing, growing focus on sustainability and green bioprocessing, integration of artificial intelligence and machine learning.
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Segmentation & Regional Insights
The bioreactors and fermenters market covered in this report is segmented –
1) By Type: Single Use Bioreactors, Multiple Use Bioreactors
2) By Process: Fed Batch, Continuous, Batch
3) By End User: Biopharmaceutical Companies, Beverage Companies, Contract Research Organization (CRO), Academic And Research Institutions
North America was the largest region in the bioreactors and fermenters market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the bioreactors and fermenters market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
Increasing biotechnology investment is expected to propel the growth of the bioreactors and fermenters market going forward. Biotechnology investment refers to allocating financial resources, such as capital or funding, into companies, projects, or ventures within the biotechnology industry. Investments in biotechnology are increasing due to the growing demand for innovative healthcare solutions and advancements in genetic engineering. Biotechnology investment, which is essential for advancing biotechnological processes and accelerating biopharmaceutical production, provides funding for R&D activities focused on improving bioreactor and fermentor technologies. It also supports the scale-up and commercialization of bioreactor and fermentor technologies, facilitating their adoption in industrial biomanufacturing settings. For instance, in January 2022, according to the UK Biotech Financing Report published by the BioIndustry Association (BIA), a UK-based trade organization, the UK biotech sector witnessed substantial financial backing in 2021, with a total of $5.77 billion raised in both public and private financing. This marked an increase of $2.18 billion, or 60%, compared to 2020. Therefore, the increasing biotechnology investment is driving the growth of the bioreactors and fermenters market.
Key Industry Players
Major companies operating in the bioreactors and fermenters market are Merck & Co. Inc., Thermo Fisher Scientific Inc., Danaher Corporation, GE Healthcare, Sartorius AG, Getinge AB, Eppendorf AG, ZETA Holding, Pierre Guerin SAS, Parr Instrument Company, Bionet Inc., PBS Biotech, Bioengineering AG, Finesse Solutions, Ollital Technology, Shanghai Bailun Biological Technology, Zhengzhou Laboao Instrument Equipment, Scigenics Pvt. Ltd., Infors AG, Synthecon Inc., Cellexus Ltd.
The bioreactors and fermenters market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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