Bioreactors Market is expected to grow at a considerable rate during the forecast period 2018-2023. The bioreactors are used for growing organisms such as yeast, bacteria, or animal cells in a biologically active environment. With the growing life science industry globally, bioreactors are extensively being used in the production of monoclonal antibodies, recombinant therapeutics, drug discovery and so forth. Bioreactors enable the control over temperature, moisture, pH, oxygen, and stirring rate for optimal cell growth and productivity. The factors contributing to the growth of the market are the growing technological advancements in bioreactor design, growing demand for therapeutically effective vaccines, and new product in development.
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Increasing demand for personalized medicine for effective treatment is one of the major reasons for the growth of this market. The development of precision medicine that is modifying the medical treatment to the individual characteristics, needs, and preferences of each patient has seen positive growth. This is augmenting the demand for bioreactors in medical facilities. Additionally, the increasing capabilities of contract manufacturing organizations (CMOs) to meet the growing demand of the biopharmaceutical and bioprocessing industry will drive the growth of the market. However, challenges associated with the use of bioreactors such as non-customizable and difficult to scale may hinder the global bioreactor market growth. Though, increasing adoption of single-use bioreactor joined with technological innovation and enhanced capabilities are expected significantly contribute in the near future.
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The global bioreactor market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. North America dominates the market for bioreactors followed by Europe. North America is leading the market in terms of revenue owing to the presence of leading industry players and increasing healthcare expenditure in this region. Further, extensive technological advancement in the field of bioprocess equipment will drive the growth of the bioreactor market in the North American Region. Asia-Pacific is expected to be the fastest growing market due to the increasing adoption of advanced bioreactors by CROs to increase their manufacturing capabilities. Countries such as China and India are significantly contributing in the bioreactor market during the forecast period. China bioreactor market is expected to be a major country due to rising R&D investment, and government initiatives to boost the growth of the market. Some of the major players in the bioreactor market include Thermo Fisher Scientific, Inc., PBS Biotech, Inc., Applikon, Biotechnology B.V., bbi Biotech GmbH, General Electric Company, Pierre Guerin SAS and so forth.
Market Segmentation
Global Bioreactor Market by Type
- Continuous Stirred Tank Bioreactors
- Bubble Column Bioreactor
- Airlift Bioreactors
- Fluidized Bed Bioreactors
- Photo Bioreactors
- Membrane Bioreactor
- Other
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