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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Bioreactors Market Segmentation
Rest of the World
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