Bioreactors Market Analysis , Size , Share , Growth , Industry Trends and Forecast to 2024 | Hexa Research
Your Catalyst To a Lucrative Business
Bioreactors Market Analysis , Size , Share , Growth , Industry Trends and Forecast to 2024 | Hexa Research
" The worldwide bioreactors market is projected over USD 550 million by 2024 , growing at a CAGR above 18 % during the forecast period ( 2016-2024 ).
The worldwide bioreactors Market is anticipated to generate revenues over USD 550 million by 2024 . It will grow at a CAGR above 18 % in the forecast period ( 2016-2024 ). The industry is driven by the demand for biologics and adoption of single-use bioreactors ( SUBs ) & hybrid bioreactors . Rising popularity of SUBs in pharmaceutical manufacturing companies is yet another key driver .
SUBs or disposable bioreactors contain disposable bags instead of cultural vessels . They face high demand from the medical sector . These reactors are adopted by pharmaceutical companies to manufacture drugs without any negotiations on their quality . These systems differ in view of flexibility and cultural medium . Commercial bioreactors include CellMarket Regular from Cellexus and HyClone SUB from Thermo Fisher Scientific .
Low functional costs of SUBs and low maintenance required for them can propel market demand from 2016 to 2024 . Moreover , convenience associated with marine-microbe culturing coupled with low energy consumption by SUBs could favor these reactors . But low volume capacities of SUBs can hamper the industry .
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