The Global Cell Culture Monitoring Biosensors Market, by Product Type (Electrochemical Biosensors, Thermometric Biosensors, Fiber Optic Biosensors, Piezoelectric Biosensors, and Others), By End User (Pharmaceutical Industry, Biotechnology Organizations, and Research Laboratories), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 332.0 million in 2020 and is expected to exhibit a CAGR of 9.6% during the forecast period (2020-2027), as highlighted in a new report published by Coherent Market Insights.
Global Cell Culture Monitoring Biosensors Market - Impact of Coronavirus (COVID-19) Pandemic
Following the COVID-19 outbreak in December 2019, the virus has spread to more than 100 countries across the globe and the World Health Organization has declared it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 29.6 million infected individuals worldwide as of September 2020. The COVID-19 pandemic has affected the global economy in three main ways; by directly affecting production and demand, by negatively impacting the supply chain and market disruption, and through its financial impact on firms and financial markets. Nationwide lockdowns in various countries such as Italy, Spain, U.K., the U.S., Australia, India, and others have disrupted daily life and activities.
Moreover, severe economic crisis and broken supply chain (due to Covid 19 lockdown) of medical devices industry is a major issue faced by medical device companies in every country across the globe. The pandemic has negatively impacted the medical device industry in terms of supply and demand of devices. As a result, the global cell culture monitoring biosensors market growth is also expected to witness a slowdown.
The slowdown of pharma, biopharma, and biotech companies’ manufacturing processes have also impacted demand for biosensors used in cell culture monitoring.
Browse 28 Market Data Tables and 29 Figures spread through 164 Pages and in-depth TOC on The Global Cell Culture Monitoring Biosensors Market, by Product Type (Electrochemical Biosensors, Thermometric Biosensors, Fiber Optic Biosensors, Piezoelectric Biosensors, and Others), By End User (Pharmaceutical Industry, Biotechnology Organizations, and Research Laboratories), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), - Forecast to 2027"
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Moreover, increasing collaboration among key players offering cell culture monitoring biosensor products is expected to drive growth of this market. For instance, in May 2017, Nova Biomedical, an in vitro diagnostic company involved in developing, manufacturing, and selling of blood testing analyzers and diagnostic products for healthcare, collaborated with Flownamics, a world leader in developing and manufacturing automated sampling and feed control systems to address the rising needs of fermentation and bioreactor operators in the biotechnology industry. The companies collaborated for online Automation of Cell Culture Sampling with BioProfile FLEX2 and Seg-Flow Online Autosampler.
Key Takeaways of the Global Cell Culture Monitoring Biosensors Market: