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New Product Launches is the Key Strategy Adopted by Industry Players Between 2013 and 2016, in Order to Achieve Growth in the Bioreactor Market
The global bioreactors market is expected to reach to USD 1,417 Million by 2021 from USD 955 Million in 2015, at a CAGR of 6.8% between 2015 and 2021. The study on global bioreactors market includes volume market for stainless steel, single-use and glass bioreactors. Factors such as the increase in adoption of single-use technologies, use of hybrid technologies: single-use and stainless steel, growing popularity of single-use bioreactor among biopharmaceutical companies, and growing biologics market are fueling the growth of this market.
The major players operating in global bioreactor market include Sartorius AG (Germany), Thermo Fisher Scientific, Inc. (U.S.), Merck KGaA (Germany), GE Healthcare (A subsidiary of General Electric Company) (U.S.), Danaher Corporation (U.S), Eppendorf AG (Germany), and major EPC players included in this report are Amec Foster Wheeler plc (U.K.), Fluor Corporation (U.S.), Jacobs Engineering Group Inc. (U.S.), M+W Group (Germany), PM Group (Ireland), and Technip S.A. (France).
The global bioreactor market is fragmented and competitive, with a significant number of global and regional market players. This segment studies the growth strategies adopted by key market players between 2013 and 2016. Leading players in the bioreactor market have adopted various strategies to expand their global presence and increase their market shares. New product launches, FDA approval, and acquisitions are some of the key strategies adopted by the market players to achieve growth in the bioreactor market.
New product launches is the key strategy adopted by industry players between 2013 and 2016, in order to achieve growth in the bioreactor market. These strategies accounted for more than 50% of the overall growth strategies adopted by the leading market players. The rising demand for single-use technologies has encouraged companies to adopt this strategy.
Besides new product launches, companies adopted the strategy of acquisition, agreement, expansion, and product engagement to increase their geographic reach, expand their customer base, and strengthen their product portfolios.
Sartorius AG (U.S.) is a leading Original Equipment Manufacturers (OEMs) supplier of bioreactors. The company adopted acquisitions, new product launches, acquisition, and expansion as its key growth strategies. In accordance with this strategy, in July 2016, the company acquired bioanalytical portfolio of a U.S. based startup firm ViroCyt incorporated. This helped the company to expand its business and product offerings in the bioreactor market. Similarly, in March 2016, Sartorius opened a new subsidiary in Peru which offers single-use products and equipment used in bioprocessing.
Bioreactors Market by Scale Range (20L, 1500L), Material (Single-Use, Stainless Steel), Usage (Lab Scale, Pilot Scale, Full Scale), Suppliers (OEMs, EPCs), End-User (R&D Departments, Biopharmaceutical Manufacturers), Region - Global Forecast to 2021
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