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Press Release: Cell Culture Market to Surpass US$ 27,565.9 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Cell culture is fast emerging as an important tool for treatment and diagnosing chronic diseases. Companies are focusing on diversifying their cell depository and enhancing their product portfolio by increasing product launch and increasing investment in research and development, in order to gain a competitive edge in the market.
The global cell culture market is estimated to be valued at US$ 15,805.7 million in 2019, and is expected to exhibit a CAGR of 7.2% over the forecast period (2019-2027).
Figure 1. Global Cell Culture Market Value (US$ Mn), by Region, 2019
Source: Coherent Market Insights Analysis (2020)
Increasing investment in research and development by biotechnological companies is anticipated to propel the market growth
Players in the global cell culture market are focused on investments in R&D to introduce advanced products used in the cell culture process, owing to increasing demand for cell culture product in diagnosis and treatment of chronic diseases. Furthermore, companies are inclined towards novel product development. For instance, on November 2019, Thermo Fisher Scientific invested around US$ 250.0 Mn to increase its operations in the U.S., Europe, India, Argentina, U.K., and China. The company also invested around US$ 24.0 Mn in 2019 in biologics production facility located in Scotland to increase its manufacturing capabilities for cell culture media.
Furthermore, factors such as increasing prevalence of chronic diseases, high importance of tissue or organ replacement with cell culture process, and increasing demand for antibody production are expected to fuel the cell culture market growth over the forecast period. For instance, according to the WHO (World Health Organization) reports published in 2017, Europe is the region, which is mostly affected by non-communicable diseases (NCDs) such as diabetes, cardiovascular diseases, cancer, chronic respiratory diseases, and mental disorders.
Figure 2. Global Cell Culture Market Share (%), by Product Type, (2019-2027)
Source: Coherent Market Insights Analysis (2020)
Increasing adoption of strategies by major players operating in the market is expected to fuel growth of the cell culture market
Manufacturers are focusing on strengthening their market position through strategic mergers, acquisitions, and collaborations. For instance, in December 2019, Sartorius, a leading international partner of life science research and the biopharmaceutical industry entered into a strategic agreement to acquire majority of stakes of Israel-based Biological Industries. The acquisition is expected to further boost Sartorius market position in cell culture market during the forecast period.
Moreover, increasing product launches is also expected to propel growth of the global cell culture market during the forecast period. Manufacturers are expanding their product portfolio by introducing new and advanced products. For instance, on October 2019, Thermo Fisher Scientific launched a new cell culture media, which is the first cell culture media that remain stable at room temperature.
Key Players
Major players operating in the global cell culture market include Corning Incorporated, Merck KGaA, Sartorius AG, BioSpherix, Ltd., Cell Culture Company, LLC, Thermo Fisher Scientific Inc., VWR International LLC, and Lonza.
The technique of growing cells outside the human body itself is a significant advancement in scientific research. Cell culture technique is adopted since mid-20th century and the field is continuously expanding into various areas of pharmaceutical research and development such as cancer and immunotherapy. Rising effort to improve the drug bioavailability and therapeutic efficacy has led to better research outcomes in cancer and health screening techniques. The ability to develop continuous cell lines has enabled mass production of desired organ cells for research and treatment benefits. Cell culture offers an excellent model system for studying normal physiology and biochemistry, drug effects, and drug screening. Being an exploratory research field, use of reagents, instruments and other consumables is very critical to support its advancements.
Market Dynamics
Increasing research on personalized therapies and stem cells are expected to drive growth of the market over the forecast period. Moreover, rising organ transplantation and biobanking of cells tissues and organs are expected to drive growth of the market. For instance, in 2018, according to the Global Observatory on Donation and Transplantation (GODT) reports 139,024 organ transplants were performed worldwide, an increase of 2.3% as compared to the total number of organ transplants performed in 2017.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
Table of Contents
*Browse 26 market data tables and 20 figures on “Cell Culture Market - Global forecast to 2027”.
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