Albany, New York, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The preference of the industry to use single-use bioreactors is presently influenced by its importance in medical procedure, product's value, and time required for development and manufacturing of the product, says a latest report on global Single-Use Bioreactors Market by Transparency Market Research for the forecast period of 2017 to 2026. Demand for single-use bioreactors is driven by the growing adoption by pharmaceutical companies to produce the drugs without compromising on quality. Moreover, organizations are leveraging the biggest advantage of single-use bioreactors - their flexibility. It allows pharmaceutical businesses to incorporate multi-drug facilities which conventionally demand production of multiple drugs at same time.
As a result, the production cost for businesses goes off the chart. Based on the advantages, rising adoption, and cost-efficiency, pharmaceutical companies across the globe are heavily investing in the incorporation single-use bioreactors which subsequently influence the growth of global single-use bioreactors market.
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Single-Use Bioreactor Systems Emerge as Fastest Growing Segment
Recently, because of its advantages like reduced operational, production, and maintenance costs, single-use bioreactors systems are primarily incorporated by medicine producers across the globe. As far as industrial applications are concerned, these systems are an attractive option for multiproduct facilities for the capacity of approximately 6,000 liters. Also, the single-use bioreactors systems have wide applications in academic and commercial laboratories in drug discovery, life sciences, and pharmaceutical environment. Moreover, development of vaccines, antibodies, cell cultures, and biofuels are extensively demanding single-use bioreactor systems. This is the major cause for boosted growth of the segment in the global single-use bioreactors market.
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Europe Produces Largest Revenue
The global single-use bioreactors market has its presence in North America, Asia Pacific, Europe, and Latin America. Europe accounts for maximum profit in terms of revenue. This growth of the region is the result of technological implementations such as incorporation of IoT and other data driven technologies along with increasing number of clinical laboratories and pharmaceutical companies in Germany, U.K., and Ireland.
Furthermore, favorable reimbursement policies for the vaccine developers in the region also are major factors responsible for the growth of single-use bioreactors market in European region.
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Biopharmaceutical Companies and User’s Preference Prompts the Growth
Depending upon the end-user’s preference, the single-use bioreactors market is majorly driven by the demand generated by biopharmaceutical companies. These companies are looking for next-generation single-use bioreactors that can automate the process of generating the pathways. These pathways can be used to manufacture protein-based drugs smoothly and securely. Moreover, these systems that can prevent the drug compounds from spilling during the extrusion process. This too is a major factor driving the growth of global single-use bioreactors market.
Additionally, growing investment in research and development activities to derive new drugs for multiple diseases and disorders also propels the demand for single-use bioreactors across the globe.
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Lucrative Opportunities to Boost the Market with 13.5% CAGR
Looking at the benefits such as high profit generation, low production cost, multiple government support, and easily accessible data, various new players are entering the global single-use bioreactors market these days. As a result of this influx, there are various new products that are being launched in the market to showcase the technical and manufacturing expertise of the manufacturers. Owing to these launches, the market of single-use bioreactor is expected to witness robust growth of 13.5% CAGR during the forecast period. With this growth rate, the market is expected to reach to the revenue of US$ 1.55 bn at the end of 2026.
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The study presented here is based on a report by Transparency Market Research (TMR), titled, “Single-Use Bioreactors Market (Product Type – Single Use Bioreactor Systems, Media Bags, Filtration Assemblies, Other Products; End User – Biopharmaceutical Companies, Biotechnology Companies, Other End Users; Cells Type- Mammalian Cells, Bacterial Cells, Yeast Cells, Other Cells; Molecule Type- Monoclonal Antibodies (MABS), Vaccines, Stem Cells, Gene-Modified Cells, Other Molecules) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2026.”
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