July 21, 2024

AI technology projected to boost the growth of Bioreactors Market

Bioreactors are equipment used to culture living cells or tissues under carefully controlled environmental conditions. They are used extensively in the biopharmaceutical industry for large-scale commercial production of vaccines, recombinant proteins, monoclonal antibodies, and other bio-therapeutics. Bioreactors offer precise control over parameters such as temperature, pH levels, oxygen levels, stirring speed, and nutrient supply for optimal growth of cells. Advantages of using bioreactors include sterility, higher product yields, and reduced contamination risks compared to conventional production methods.

The global Bioreactors Market is estimated to be valued at US$ 20.4 Bn in 2023 and is expected to exhibit a CAGR of 11% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends gaining traction in the bioreactors market is the adoption of artificial intelligence (AI) and machine learning technologies. AI is helping bioprocess engineers optimize cell culture processes, improve product yield and quality, and minimize downtime. Companies are developing AI-powered bioreactors that can autonomously regulate parameters, monitor cell health, detect abnormalities and respond to changing conditions in real-time. This is reducing manual intervention and allowing for round-the-clock monitoring of bioprocesses. The increasing application of AI and automated control systems is expected to significantly boost efficiency and lower production costs for biotherapeutics manufacturing over the forecast period.
Porter’s Analysis

Threat of new entrants: New entrants threat is medium as bioreactors market requires high initial investments and established distribution channels.

Bargaining power of buyers: Bargaining power of buyers is high due to availability of substitute products and well-informed nature of major buyers.

Bargaining power of suppliers: The bargaining power of suppliers is medium due to availability of substitute components.

Threat of new substitutes: Threat of new substitutes is medium as bioreactors have limited substitute products.

Competitive rivalry: Intense competition exists among existing players.

Key Takeaways
The global Bioreactors Market is expected to witness high growth, exhibiting a CAGR of 11% over the forecast period, due to increasing R&D investments in biopharmaceutical industry. The bioreactors market size for 2023 is US$ 20.4 Bn.

Regional analysis: North America region dominates the bioreactors market and is expected to maintain dominance during the forecast period. This is attributed to high biopharmaceutical R&D expenditure and presence of key players in the region. Asia Pacific region is projected to exhibit fastest growth over the forecast period owing to increasing government funding for biopharmaceutical research.

Key players: Key players operating in the bioreactors market are Applikon Biotechnology, Bionet, Cytiva, and Eppendorf. Applikon Biotechnology offers Single-Use Bioreactors for development. Cytiva provides a range of bioreactors for R&D and manufacturing processes.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research

     2. We have leveraged AI tools to mine information and compile it