The market is estimated to grow at a CAGR of 7. 9% from 2020 to 2027. The growth of the marketin this region is primarily attributed to the escalating demand for bioreactors and rising number of market players focusing on expanding their business in different countries, rapidly growing biopharmaceutical and biotechnology industries, and increasing adoption of single-use bioreactors.
New York, June 23, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Bioreactors Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Cell ; Molecule ; Technology ; End User and Country" - https://www.reportlinker.com/p05915396/?utm_source=GNW
However, stringent regulatory framework is the major factor hindering the market growth in Asia Pacific. Additionally, technological advancements in bioreactors and rising demand of personalized medicinesare the factors that are likely boost the growth of the bioreactorsmarketin this region during the forecast period.
A bioreactor is equipment or system engineered to provide biologically active environment for the production of various medical and pharmaceutical compounds.The vessel is used to carry out a chemical process, which involves organisms or biochemically active substances derived from such organisms.
This process can either be aerobic or anaerobic.Bioreactors are commonly cylindrical in shape, ranging in capacities from liters to cubic meters, and are generally made of stainless steel.
Bioreactors provide a controllable environment, in terms of pH, temperature, nutrient supply, and shear stress. These equipment are used in a variety of applications, such as production of biopharmaceuticals and tissue engineering products.
The biopharmaceutical industry is one of the most significant contributors to many economies.With the aging population and rising healthcare standards,the demand for pharmaceutical products has been escalating in Asia Pacific countries.
For instance, Autekbio, based in Beijing,is one of the few biopharmaceutical manufacturing organizations fully devoted to contract manufacturing of biologicals.TaiMed Biologics Ibalizumab, the FDA-designated orphan drug, is manufactured by contract pharmaceutical manufacturing WuXi PharmaTech.
With the increasing demand for drugs and pharmaceuticals, many companies are opting for advanced bioreactor-related specialized services offered by other pharmaceuticals and biotechnology companies; this enables them to speed up the development process and attain lower production costs.Apart from developed economies, emerging economies such as Brazil, China, and India have shown rapid growth in the research landscape.
Factors such as increasing approvals for biologics, growing pipeline of biosimilars, and elevating investments in research activities are prime factors facilitating the growth of the bioreactor industry in this region. Moreover, increasing approvals in gene and cell therapies are favoring the growth of the market. The approved gene therapies are Glybera-used to treat Lipoprotein Lipase Deficiency, and Strimvelis- treating ADA-Severe Combined Immunodeficiency.
The ongoing COVID-19 pandemic has badly affected the transportation infrastructure in Asia Pacific, resulting in disruptions in supply chains and shortage of healthcare facilities in low-income countries.To prevent the spread of disease, restrictive measures have been taken in South Korea, Malaysia, Singapore, the Philippines, and India.
The COVID-19 outbreak is expected to have short- and long-term impact on the region,which is potentially projected to have negative impact on growth of the bioreactors market in the region.
In 2019, the mammalian cells segment accounted for the largest share of the Asia Pacific bioreactors market.However, the yeast cells segment is expected to register the highest CAGR during the forecast period.
Yeasts are cost-effective, fast-growing, and technically feasible and can be used for high-density cell cultures in bioreactors. Moreover rapid growth rate, easy genetic manipulation, complete genome sequence knowledge, cost-effective growth medium requirements, and post-translational modifications flexibility make yeasts perfect hosts for recombinant protein expression.
A few of the significant secondary sources referred to while preparing the report on the Asia Pacific bioreactors marketreport includethe World Health Organization (WHO) andMedical Research Future Fund (MRFF).
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