
Published On: Jun 2024
Published On: Jun 2024
According to Business Market Insights’ research, the North America bioreactors market was valued at US$ 1,575.60 million in 2022 and is expected to reach US$ 2,669.00 million by 2030, registering a CAGR of 6.8% from 2022 to 2030. Rapid growth of pharmaceutical & biotechnology industry and rising demand for personalized medicine are among the critical factors attributed to the North America bioreactors market expansion.
In recent years, the pharmaceutical industry has been growing at an unprecedented pace. Big pharmaceutical companies and contract research organizations (CROs) are coming up with new medicines and therapy forms to treat a wide range of indications. The biopharmaceuticals market is increasing. The strong demand for biologics and biosimilars has driven the growth of the industry. The biopharmaceutical industry is one of the most significant contributors to the economy. The US is the largest market for biopharmaceuticals and leader in biopharmaceutical R&D. As per the Pharmaceutical Research and Manufacturers Association (PhRMA), the US firms conduct over half the world's R&D in pharmaceuticals (US$ 75 billion) and holds the highest number of patents in new medicines. Factors such as increasing biologics approval, growing biosimilar pipeline, and rising investment in research activities are facilitating the growth of the industry. Apart from this, increasing approvals in gene and cell therapies are favoring market growth. The approved gene therapies are Glybera-used to treat Lipoprotein Lipase Deficiency and Strimvelis- treating ADA-Severe Combined Immuno Deficiency. Thus, the factors mentioned above are increasing the demand for the large-scale production of various therapeutics, thereby facilitating the growth of the bioreactors market globally.
On the contrary, stringent regulatory framework hurdles the growth of North America bioreactors market.
Based on scale, the North America bioreactors market is categorized into lab-scale production, pilot-scale production, and full-scale production. The pilot-scale production segment held 48.5% share of North America bioreactors market in 2022, amassing US$ 763.87 million. It is projected to garner US$ 1,276.16 million by 2030 to expand at 6.6% CAGR during 2022–2030.
In terms of application, the North America bioreactors market is segmented into microbial application, cell culture application, and others. The cell culture application segment held 48.7% share of North America bioreactors market in 2022, amassing US$ 767.82 million. It is projected to garner US$ 1,276.89 million by 2030 to expand at 6.6% CAGR during 2022–2030.
By technology, the North America bioreactors market is bifurcated into fed-batch bioreactors and perfusion bioreactors. The fed-batch bioreactors segment held 62.1% share of North America bioreactors market in 2022, amassing US$ 978.61 million. It is projected to garner US$ 1,581.12 million by 2030 to expand at 6.2% CAGR during 2022–2030.
Based on end user, the North America bioreactors market is segmented into biopharma manufacturers, research and development organizations, and contract manufacturing organization. The research and development organizations segment held 60.4% share of North America bioreactors market in 2022, amassing US$ 952.15 million. It is projected to garner US$ 1,695.88 million by 2030 to expand at 7.5% CAGR during 2022–2030.
Based on country, the North America bioreactors market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 87.3% share of North America bioreactors market in 2022. It was assessed at US$ 1,374.71 million in 2022 and is likely to hit US$ 2,371.94 million by 2030, exhibiting a CAGR of 5.8% during 2022–2030.
Key players operating in the North America bioreactors market are PBS Biotech Inc, General Electric Co, Merck KGaA, Thermo Fisher Scientific Inc, Sartorius AG, Pall Corp, Solaris Biotechnology SRL, and Applikon Biotechnology BV, among others.
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com