
Published On: Jun 2024
Published On: Jun 2024
At 9.8% CAGR, Asia Pacific Bioreactors Market is Projected to be Worth US$ 1,488.10 Million by 2030, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific bioreactors market was valued at US$ 706.74 million in 2022 and is expected to reach US$ 1,488.10 million by 2030, registering a CAGR of 9.8% from 2022 to 2030. Rising demand for personalized medicine and rapid growth of pharmaceutical and biotechnology industry are among the critical factors attributed to the Asia Pacific bioreactors market expansion.
The transformation of the healthcare industry from one-size-fits-all to a targeted approach is expanding the demand for personalized medicine. Precision medicine is being considered as one of the most promising approaches to tackle diseases such as cancer, neurodegenerative diseases, and rare genetic conditions. Innovations in the production of personalized medicines are likely to impact the entire sector, and single-use technologies aimed at smaller-volume production have potential applications in protein bioproduction, particularly in downstream processes. Personalized and differentiated approaches to medicine are leading to a need for a wider range of products, many of them for a relatively small number of patients. A fundamentally different approach to the production and delivery of biological products may be required.
Precision medicine utilizes the genomic information of an individual to offer targeted treatment for a particular indication. The rising prevalence of a number of chronic diseases has increased the demand for biologics, drugs for orphan diseases, and personalized medicines. For instance, in 2019, the FDA approved 12 personalized medications to address the root causes of disease and further integrate precision medicine with clinical care. Also, increasing government efforts are strengthening personalized medicine research activities. For instance, in February 2020, the National Human Genome Research Institute (NHGRI) announced to establish a new precision medicine and genomics program. This program will focus on the innovation of genomics and informatics tools for better diagnosis and treatment of disease. The rising demand for personalized medicine is anticipated to offer significant growth opportunities to the players operating in the bioreactors market during the forecast period.
On the contrary, stringent regulatory framework hurdles the growth of Asia Pacific bioreactors market.
Based on scale, the Asia Pacific bioreactors market is categorized into lab-scale production, pilot-scale production, and full-scale production. The pilot-scale production segment held 48.4% share of Asia Pacific bioreactors market in 2022, amassing US$ 341.86 million. It is projected to garner US$ 710.57 million by 2030 to expand at 9.6% CAGR during 2022–2030.
In terms of application, the Asia Pacific bioreactors market is segmented into microbial application, cell culture application, and others. The cell culture application segment held 48.6% share of Asia Pacific bioreactors market in 2022, amassing US$ 343.28 million. It is projected to garner US$ 713.10 million by 2030 to expand at 9.6% CAGR during 2022–2030.
By technology, the Asia Pacific bioreactors market is bifurcated into fed-batch bioreactors and perfusion bioreactors. The fed-batch bioreactors segment held 62.3% share of Asia Pacific bioreactors market in 2022, amassing US$ 440.28 million. It is projected to garner US$ 887.10 million by 2030 to expand at 9.2% CAGR during 2022–2030.
Based on end user, the Asia Pacific bioreactors market is segmented into biopharma manufacturers, research and development organizations, and contract manufacturing organization. The research and development organizations segment held 60.5% share of Asia Pacific bioreactors market in 2022, amassing US$ 427.83 million. It is projected to garner US$ 946.89 million by 2030 to expand at 10.4% CAGR during 2022–2030.
Based on country, the Asia Pacific bioreactors market has been categorized into China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 23.0% share of Asia Pacific bioreactors market in 2022. It was assessed at US$ 162.55 million in 2022 and is likely to hit US$ 392.86 million by 2030, exhibiting a CAGR of 11.7% during 2022–2030.
Key players operating in the Asia Pacific bioreactors market are Applikon Biotechnology BV, bbi-biotech GmbH, General Electric Co, Merck KGaA, Pall Corp, PBS Biotech Inc, Sartorius AG, Solaris Biotechnology SRL, and Thermo Fisher Scientific Inc, among others.
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