Friday, 09 June 2023
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The growth of the market is driven by the factors such as increasing number of bioreactors manufacturers, speedy evolution of pharmaceutical industry and aggressive pharmaceutical & biotechnological activities. However, the market is likely to get affected due to concern of regulatory framework during the forecast period.
The industry is driven by the factors such as capabilities of cost-effective manufacturing as compared to other manufacturing economies, simplified regulatory guidelines for biotechnology industry, rising government supports through the funding, mentoring, handholding and infrastructure support and others. For instance, BIRAC has launched an Equity based fund, the fund was granted for AcE (Accelerating Entrepreneurs). Approximately USD 150,000 for promising ventures was granted to accelerate the growth of entrepreneurs in the field of biotechnology. These factors have led to the significant growth and has encouraged local players to enter the market.
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The country has opportunities to work on the precision medicines to offer targeted treatment to the individual. The country currently is facing increasing number of the diseases such as diabetes, obesity and cancers and others. Therefore, innovating the precision medicine for the targeted diseases will assist to control the rising incidences of the various diseases. The capabilities of the bioreactors to design and develop the specific requirements will enable to treat the diseases of an individual. Therefore, the rising need to treat the chronic diseases with the advanced technologies will require the enormous numbers of bioreactors to increase the production.
The India bioreactors market is segmented based on product class, application and process. Bioproduction segment is anticipated to grow at a CAGR of 6.2% during the forecast period, by process. The segment is likely to experience maximum growth in the forecast period owing to the extensive production of the medicine and therapeutic products in the country. In addition, the segment is anticipated to grow significantly due to the growing numbers of the pharmaceutical companies and extensive production of generics drugs and vaccines.
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INDIA BIOREACTORS– MARKET SEGMENTATION
By Product Class
INDIA BIOREACTORS – MARKET SEGMENTATION
By Application
INDIA BIOREACTORS – MARKET SEGMENTATION
By Process
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