Microbial Fermentation Technology Market Trends, Opportunities, and Growth Insights
The global microbial fermentation technology market size is expected to reach USD 49.39 billion by 2030, registering a CAGR of 5.8% according to a new report by Grand View Research, Inc. Since fermentation is observed to be of utmost importance in the manufacturing of biopharmaceuticals, there is also a growing demand for microbial fermentation technology in biopharmaceutical manufacturing. This has led to increasing collaborations and developments in this market space. For instance, in September 2021, BIOVECTRA and ABEC collaboratively announced that the latter company would provide CSR single-use microbial fermentation solutions to expand BIOVECTRA’s manufacturing capabilities. The newly installed solutions are expected to provide a faster turnaround time with high-growth microbial fermentation on large scale. Moreover, in September 2022, Cargill and Genomatica along with Cyclone Engineers are working on a project to scale up the bioreactor fermentation proce...