DUBLIN--(BUSINESS WIRE)--The "India Bioreactors Market to 2027 - Country Analysis and Forecasts by Product Class; Application; Process and Geography" report has been added to ResearchAndMarkets.com's offering.
The India bioreactors market is expected to reach US$ 164.8 Mn in 2027 from US$ 94.6 Mn in 2018. The market is estimated to grow with a CAGR of 6.6% from 2019-2027.
The growth of the bioreactors market is primarily attributed to the increasing number of bioreactors manufacturers, speedy evolution of pharmaceutical industry and aggressive pharmaceutical & biotechnological activities. However, concern of regulatory framework is likely to hinder the growth of the market during the forecast period.
Additionally, the growth of the India bioreactors market is contributed by factors such as opportunities to develop personalized medicine. India is counted among the emerging nations where the biotechnology and pharmaceutical industry is growing rapidly. According to the Department for Promotion of Industry and Internal Trade Indian biotechnology industries is among the top 12 biotech destinations in the world and ranks third in the Asia Pacific.
The country has the second highest number of the USFDA approved plants. In addition, approximately 104 new startups, 346 companies, 509 projects including 115 collaborative projects are being supported by the BIRAC, a Public Sector Unit of Government of India. Thus, the above mentioned factors are driving the growth of the India bioreactors market and is expected to continue in the future.
The advancement in the industry has made the Indian pharmaceutical industry to hold highest number (approximately 3,950) of Drug Master Files (DMFS) with USFDA by the end of 2016. In addition, it was expected that India's Abbreviated New Drug Applications (ANDAS) will have approximately 4,000 application by June 2017.
According to the Department for Promotion of Industry and Internal Trade (Make in India) statistics the growth of the pharmaceuticals industry has earned approximately USD 16.8 billion from the exports of its API, generic and others medicinal products in between 2016-2017. Therefore, owing to these factors the pharmaceutical industry require higher number of the bioreactors for drug manufacturing. Thus, the increasing demand of the pharmaceutical products are leading to the growth of the bioreactors in India.
In 2017, the industrial scale (>1000L) bioreactors segment held a largest market share of 63.6% of the bioreactors market, by product. This segment is also expected to dominate the market in 2027 owing to increasing demand for industrial scale (>1000L) bioreactors in pharmaceutical companies. However, the pilot scale (15 - 1000L) bioreactors segment is anticipated to witness the fastest growth rate of 7.1% during the forecast period, 2019 to 2027 owing to the increased use of pilot scale bioreactors for research purposes.
Microbial application segment is anticipated to grow at a CAGR of 6.9% during the forecast period. The production of microbiologic and increasing government funding as well as promotional initiatives undertaken for usage of microbial products to treat medical conditions. Increasing R&D innovation in various other microbial applications has also been contributing significantly to the growth of the bioreactors market.
Some of the major primary and secondary sources for bioreactors included in the report are Abbreviated New Drug Applications (ANDAS), Department for Promotion of Industry and Internal Trade (Make in India), World Health Organization, Indian Drug and Pharmaceutical Limited, National Institutes of Pharmaceutical Education & Research (NIPERs) and others.
- Increasing Numbers of Bioreactors Manufacturers
- Speedy Evolution of Pharmaceutical Industry
- Aggressive Pharmaceutical & Biotechnological Activities
- Concerns of Regulatory Framework
- Opportunities to Develop Personalized Medicine
- Use of Metagenomics in Pharmaceuticals
Key Topics Covered
2. Key Takeaways
3. Research Methodology
4. Bioreactors Market - Market Landscape
5. India Bioreactors Market - Key Market Dynamics
6. Bioreactors Market - India Analysis
7. India Bioreactors Market Analysis - by Product Class
8. India Bioreactors Market Analysis - by Application
9. India Bioreactors Market Analysis - Process
10. Bioreactors Market - Industry Landscape
11. Bioreactors Market - Key Company Profiles
- Thermo Fisher Scientific Inc.
- Applikon Biotechnology B.V.
- Merck KGaA
- Sartorius AG
- General Electric
- Bioengineering AG
- Solaris Biotechnology s.r.l.
- Danaher (Pall Corporation)
- Praj Industries
- Zeta Holding GmbH
For more information about this report visit https://www.researchandmarkets.com/r/vmuaso