Bioreactors Market Analysis, Size, Share, Growth, Industry Trends and Forecast to 2024 | Hexa Research
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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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