Global Bioreactors Market 2019-2023
About this market
The demand for single-use bioreactors has increased significantly in the global bioreactors market owing to their various attributes. Single-use bioreactors are simpler to use than stainless steel bioreactors because of the ease with which they can be set up for continuous processing. A single-use bioreactor that has been used in a fed-batch manufacturing process can be easily converted to fit the requirements of a continuous processing operation. Additionally, a single-use bioreactor enables a reduction in the maintenance costs as it does not require the same utility and piping infrastructure as a traditional stainless-steel bioreactor, which also reduces the space required within the cleanroom. Hence, the growing demand for single-use bioreactors is expected to boost the market sales of bioreactors in the long-run. Technavio’s analysts have predicted that the bioreactors market will register a CAGR of almost 7% by 2023.
Increased availability of accessory products
Vendors in the bioreactors market are offering accessory products with improved features and with specific manufacturing standards to make a mark in the market. The accessory products allow market vendors to retain their existing consumers and also attract new customers. Such product offerings help in attracting prospective consumers, thus leading to increased sales and high-volume production among vendors, which will support the growth of the global bioreactors market during the forecast period.
Ethical issues related to bioprocessing of stem cells for regenerative medicine
Regenerative medicine aims at restoring the structure and function of damaged organs and tissues using stem cells. Thus, amid the growing ethical concerns worldwide, animal testing must be regulated by government agencies to minimize the use of animals for research in regenerative medicine. Therefore, the existence of ethical issues pertaining to the bioprocessing of tissue samples may hamper ongoing research in stem cells, which might reduce the demand for bioreactors, and thus have a negative impact on the growth of the global bioreactors market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the bioreactors market during the 2019-2023, view our report.
The market appears to be fragmented and with the presence of several companies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.
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