Scienza e Tecnologia
Bioreactors Market to Garner $7.32 Bn, Globally, by 2030 at 10.7% CAGR: Allied Market Research
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Rise in technological developments for advanced bioreactors, advancements in R&D activities for novel biologic and microbial applications, and surge in demand for single-use bioreactors drive the growth of the global bioreactors market. However, high cost of bioreactors hinders the market growth. On the contrary, development of biotechnology and pharmaceutical industry is expected to open lucrative opportunities for the market players in the future.
By type, the single-use segment held the largest share in 2020, accounting for more than three-fifths of the global bioreactors market. Moreover, the segment is expected to manifest the highest CAGR of 11.2% during the forecast period, due to surge in demand for biologic drugs and initiatives taken by government for the development of the pharmaceutical sector.
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By usage, the full-scale production segment is projected to register the highest CAGR of 11.5% during the forecast period, due to advancements in R&D activities for vaccine development, increase in adoption of advanced bioreactors, and rise in prevalence of chronic diseases. However, the pilot-scale production segment held the largest share in 2020, contributing to more than two-fifths of the global bioreactors market, owing to development in pharmaceutical and biotechnology industry and surge in number for clinical and pre-clinical trial studies.
By region, the market across North America held the largest share in 2020, accounting for more than one-third of the market, due to rise in prevalence of chronic diseases, presence of key players in manufacturing advanced bioreactors, and advancements in R&D in biomedical research in the region. However, the global bioreactors market across Asia-Pacific is anticipated to showcase the highest CAGR of 12.3% during the forecast period, owing to rise in prevalence of chronic diseases, rise in demand for novel biologic drugs, and surge in the pharmaceutical industry.
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