- Press Release
- Cell Culture Market to Surpass US$ 27,565.9 Million by 2027
Cell Culture Market to Surpass US$ 27,565.9 Million by 2027 - Coherent Market Insights
Published On : Feb 27, 2020
The Global Cell Culture Market, by Product Type (Instruments and Consumables), by Application (Vaccine Production, Gene Therapy, Cancer Research, Tissue Culture, Drug Development, and Others), by End User (Academic & Research Institutions, and Pharmaceutical and Biotechnology Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was 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), as highlighted in a new report published by Coherent Market Insights.
Increasing product launches is expected to drive growth of the global cell culture market
Increasing product launches by major manufacturers operating in the cell culture market to boost their market position is expected to drive growth of the market over the forecast period. For instance, in October 2019, Thermo Fisher Scientific Inc. launched Cytomat 2 C-LiN Series Automated Incubator. The new incubator system is designed to provide cell growth and environmental control across a range of micro plate applications comprising of cell-based screening, immuno-capture assays, microbiology, and enzyme testing.
Furthermore, increasing incidence of breast cancer is expected to drive growth of the market during the forecast period, owing to robust pipeline of cell culture products. For instance, according to the WHO report published in 2018, breast cancer is the most frequent cancer among women, impacting 2.1 million women each year across the globe.
Browse 26 Market Data Tables and 20 Figures spread through 160 Pages and in-depth TOC on ‘Cell Culture Market, by Product Type (Instruments and Consumables), by Application (Vaccine Production, Gene Therapy, Cancer Research, Tissue Culture, Drug Development, and Others), by End User (Academic & Research Institutions, and Pharmaceutical and Biotechnology Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027”
To know the latest trends and insights prevalent in the global Cell Culture market, click the link below:
https://www.coherentmarketinsights.com/market-insight/cell-culture-market-116
Increasing strategic partnerships, and new product launches by key players are expected to enhance their product portfolio and is further expected to drive growth of the global cell culture market over the forecast period. For instance, in June 2019, Thermo Fisher Scientific Inc. entered into a strategic partnership agreement with Scinogy, a specialist in closed, automated manufacturing systems for cell therapies for development and commercialization of instrumentation and reagent systems designed to improve productivity and scalability of cell and gene therapy manufacturing.
Key players in the market are focused on adopting strategies such as acquisitions to expand their product portfolio and geographical presence in the global cell culture market. For instance, in March 2019, Thermo Fisher Scientific Inc. entered into a definitive agreement with Brammer Bio, a leader in viral vector manufacturing for gene and cell therapies. According to the agreement Thermo Fisher Scientific Inc. will acquire Brammer Bio for around US$ 1.7 billion.
Key Takeaways of the Cell Culture Market:
Joining thousands of companies around the world committed to making the Excellent Business Solutions.