Cell Culture Market to Surpass US$ 33,452.8 Mn by 2030 - Coherent Market Insights

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) is estimated to be valued at US$ 19,198.0 Million in 2022 and is expected to exhibit a CAGR of 7.2 % during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

The increase in product launches by key market players is expected to drive growth of market over the forecast period. For instance, on January 14, 2021, Captivate Bio, a custom cell culture service provider, announced launch of a portfolio of cell culture tools to assist in the fight against COVID-19 and other emerging diseases as well as to help address the gaps exposed by supply chain issues and delays in cell culture media manufacturing in the U. S.

Moreover, the increasing adoption of inorganic strategies such as collaborations by key players is expected to drive the market growth over the forecast period. For instance, in June 2020, Lonza, a Sweden-based multinational manufacturing company for the pharmaceutical, biotechnology and nutrition sectors and CELLINK (now part of BICO), a bioconvergence startup that designs and supplies technologies and services to enhance biology research, jointly collaborated to offer a 3D bioprinting solution designed to advance complete 3D cell culture workflows.

Global Cell Culture Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a positive impact on market, owing to the increasing funding by various government organizations to develop COVID-19 antibody. For instance, in September 2021, the Australian Government provided US$ 5 million to Walter and Eliza Hall Institute of Medical Research (Melbourne), an Australia's oldest medical research institute, to find a new, effective, safe antibody treatment to combat COVID-19. As of September 2021, the Government had invested US$ 96 million from the Medical Research Future Fund (MRFF) in COVID-19 research. This included diagnostics, vaccine development, antiviral development, clinical trials, digital health research infrastructure, and human immune response to COVID-19 infection.

Global Cell Culture Market: Key Developments

For instance, in February 2022, KromaTiD, a pharmaceutical and cell and gene therapy company, expanded its service offerings with the launch of cell and blood culture isolation, processing, and quality control services.

Browse 34 Market Data Tables and 31 Figures spread through 160 Pages and in-depth TOC on “Global Cell Culture Market”-  Forecast to 2030, 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)  

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https://www.coherentmarketinsights.com/market-insight/cell-culture-market-116

Growth in the prevalence of chronic diseases, such as cancer and cardiovascular diseases, has led to an increased focus on cytological studies, leading to rising demand for culture systems and media products. For instance, according to the WHO (World Health Organization), On 11 June 2021, cardiovascular diseases lead to over 17.9 million deaths each year.

Key Takeaways of the Global Cell Culture Market:

• Global Cell Culture market is expected to exhibit a CAGR of 7.2 % during the forecast period due to the increasing government initiatives regarding the cell culture media production. For instance, in January 2022, India’s Union Health Ministry amended the New Drugs & Clinical Trials Rules for the addition of cell-derived or stem cell-derived products into the scope of new drugs. This provided a robust regulatory structure for governing the production of cell-derived products in the country and is expected to positively affect the industry growth.
• Among product type segment, consumables segment is expected to exhibit highest CAGR in the global cell culture market during the forecast period this is attributed to increasing product launches and increasing research and development activities by major players in the market. Key market players like Thermo Fisher Scientific, Inc. and Sartorius AG offers wide variety of consumables product range.
• On the basis of regions, North America is estimated to account for the largest market share in the global cell culture market, due to increase in funding and partnership by key market players. For instance, in 2020, Harvard University (U.S.) and Guangzhou Institute for Respiratory Health (China) partnered to discover COVID-19 therapies. The two institutes received funding of US$ 115 million from the China Evergrande Group, a second largest property developer in China, to support research on the development of diagnostic tests, vaccines, and antiviral drugs.
• 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