Bioreactor Market Size

Bioreactors Market Analysis

The Bioreactor Market size is estimated at USD 5.31 billion in 2024, and is expected to reach USD 7.60 billion by 2029, growing at a CAGR of 7.45% during the forecast period (2024-2029).

Bioreactors have great potential uses in the development of vaccines and other pharmaceutical products that are being used to mitigate the spread of COVID-19 across the world. The high demand from governmental vaccination programs and private entities to vaccinate large sections of the population requires scientists to work under pressure to shorten the time-to-market of developed vaccines. This has created a huge demand for bioreactors from the biopharmaceutical and biotechnology industries during the early phase of the pandemic. According to an article published by the Frontiers in August 2022, bioreactors were widely used in cell culture-based viral vaccine production, especially during the COVID-19 pandemic, and the development and application of bioreactors provided more efficient and cost-effective vaccine production to meet the global vaccine demand. Thus, COVID-19 had a positive impact on the bioreactor market initially. However, currently, the market growth slowed down as the pandemic subsided, and it is expected to witness a stable growth during the forecast period of the study.

The growth of bioreactors in pharmaceuticals, technological advancements in bioreactors, and adoption of single-use bioreactors (SUBs) and hybrid bioreactors are the prime factors responsible for the growth of the bioreactor market currently.

Biopharmaceuticals are utilized in a range of applications, from being in the production of biopharmaceuticals to applications in tissue engineering, such as cell expansion and generation of 3D tissue constructs. Bioreactors are, thus, used in providing a controllable environment, in terms of pH, temperature, nutrient supply, and shear stress for any cells or cellular constructs incorporated into them. For instance, according to an article published by the PubMed Central in February 2022, bioreactors allow production to be increased to industrial scales, which can quickly and cheaply produce large amounts of secondary metabolites and recombinant proteins in a short time. Bioreactors have been utilized in many different areas of industry and research and for the progression of in vitro models of 2D cultures and suspensions to 3D constructs, mimicking the natural physiological state in situ. They have also proven to be crucial medicines that are used in autoimmune disorders, cancer, asthma, and organ rejection. Thus, the growth of bioreactors in the pharmaceutical sector is the major factor augmenting the growth of the market.

Furthermore, the technological advancements in bioreactors have improved the flexibility, quality, and scalability of operations with low capital and energy requirements. The innovative methods and the analytical tools are projected to enhance the process robustness, accelerate scale-up to industrial production, and drive the efficient use of resources. The extensive use of hybrid bioreactor technology in effective waste management has also further accelerated the expansion of the market.

Initiatives by major companies are also boosting the market growth. For instance, in May 2021, Beckman Coulter Life Sciences launched its next-generation Biolector XT Microbioreactor in Germany. The BioLector XT Microbioreactor allows cultivation parameter monitoring, high-throughput strain screenings, and feeding strategy optimization.

Thus, owing to the benefits offered by the bioreactor technology and its increasing application in different areas, the studied market is expected to witness significant growth over the forecast period. However, concerns regarding the use of single-use bioreactors and limited storage capacity can hamper the market growth.