Growing pharmaceutical and biologics industry
Rapidly growing pharmaceutical and biologics industries coupled with increased investments by the companies towards R&D of novel biologics are driving the microbial bioreactor market. The significant rise in utilization of microbial bioreactor by the research & development organizations, biopharmaceutical and advanced cell therapies manufacturers has been observed in major developed nations for the development of novel technologies. The companies are increasingly investing their annual expenditure towards facility expansion, and advanced machinery for development of technologically innovative drugs or biologics. Additionally, rise in investment by the companies and government organizations in research institutes of pharmaceutical companies are boosting the utilization of microbial bioreactor for facility expansion and technology developments. According to the study published in Evaluate Pharma in 2018, the annual expenditure of pharmaceutical spending towards R&D increased from USD 158.8 billion in 2016 to USD 165 billion with an annual increase of 3.9%. Further increase in expenditure is expected during period 2018-2026 contributing equal market growth for microbial bioreactor during forecast period
Increasing demand for personalized medicines
Increasing demand for personalized medicines coupled with significant rise in utilization of microbial bioreactors for the production of necessary therapies are driving the global microbial bioreactor market during forecast period. The majority of drugs under the pipeline-stage by globally dominating companies are related to personalized medicine and biomarkers. It is estimated that 30-40% of the novel drugs in the pipeline are being developed in conjunction with a biomarker making this relevant to the treatment of diseases. The major companies in the biopharmaceutical industry are investing approximately 3-4% of their annual Research & Development expenditure on the biomarkers while small companies are investing approximately 0.5% of their R & D spend. The increased demand for patient-specific therapies, cell culture, are additionally contributing to the growth of microbial bioreactor market during forecast period. Furthermore, continuous increase in demand for personalized medicine, increased inclusion of personalized medicine segment in the companies product portfolio is expected to boost huge market demand for micro- bioreactor across the globe during forecast period.
Low availability of high capacity microbial bioreactors for commercial applications are hindering the growth of global microbial bioreactors during the forecast period. Over the years, the microbial bioreactors are intended to be used for research and development activities in various industries including biopharmaceutical, food & beverages and chemical industries. Rapid evolution and technological advancements in pharmaceutical industries and growing companies' interests towards innovative solutions to occupy great market share and penetrations into global markets led to increased demand for commercial microbial bioreactors. Lack of availability of technologies for development of commercial bioreactors and presence of threat through high rejections are major factors contributing to decreased production or commercialization of high-end commercial microbial bioreactors.
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