Cell Culture Market Worth $11.2 Billion By 2024 | Industry Research Report with Top Manufacturers: Fujifilm Corporation (Japan), HiMedia Laboratories (India), Merck Group (Germany), GE Healthcare (U.S.), Agilent Technologies, Inc. (U.S.)
Meticulous Research® –leading global market research company published a research report titled “Cell Culture Market by Product [Consumables (Media, Reagents, Sera, FBS, Antibiotics, growth factor, buffer), Equipment (Bioreactor, Centrifuge)], Application (Biopharmaceutical, Cancer, Stem Cell), and End User (Pharma, Research)- Global Forecast to 2024”.
According to this latest publication from Meticulous Research®, the global cell culture market is expected to grow at a CAGR of 9.4% from 2018 to 2024 to reach $11.2 billion by 2024, driven by factors such as increase in life science research, growing prevalence of chronic diseases, and rising demand for the biopharmaceuticals.
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The global cell culture market study presents historical market data in terms of value (2016 and 2017), estimated current data (2018), and forecasts for 2024– by product (consumables and equipment), application (bioproduction, diagnostics, cancer research, drug screening and development, and stem cell research), and end user (pharmaceutical and biotechnology companies, academic and research institutes, and diagnostic laboratories). The study also evaluates industry competitors and analyzes the market at regional and country level.
Key questions answered in the report-
• Which are the high growth market segments in terms of type of product, application, end user, and region/countries?
• What was the historical market for cell culture equipment and consumables across the globe?
• What are the market forecasts and estimates for the period 2018-2024?
• What are the major drivers, restraints, opportunities, challenges, and trends in the global cell culture market?
• Who are the major players in the global cell culture market?
• How is the competitive landscape and who are the market leaders in the global cell culture market?
• What are the recent developments in the global cell culture market?
• What are the different strategies adopted by the major players in the global cell culture market?
• What are the geographical trends and high growth regions/countries?
• Who are the local emerging players in the global cell culture market and how do they compete with the global players?
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The consumables contributed the largest share due to their frequent usage in large quantity for research and commercial bioproduction applications, academic research, and clinical diagnostic applications.
Based on application, bioproduction segment commanded the largest market share. This segment is also expected to witness the fastest growth attributed to growing research activities related to biopharmaceuticals and rising demand for biopharmaceuticals for treatment of various critical illnesses.
Among end users, pharmaceutical and biotechnology companies held a significant market share in 2017. High consumption of cell culture products in commercial and research bioproduction; and relatively greater purchasing power compared to other end user segments support the largest share in this market.
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Geographically, the market is segmented in to North America (the U.S. and Canada), Europe (Germany, Italy, France, the U.K., Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and Middle East & Africa. North America commanded the largest share of the global cell culture market in 2017, followed by Europe and Asia-Pacific. The large share of this market is mainly attributed to the high demand of biopharmaceutical products, well-established healthcare system, greater adoption of the advanced technologies, rising prevalence of chronic diseases, growth in pharmaceutical research & development, and presence of key players. However, countries in Asia-Pacific and Latin America are expected to witness significant growth during the forecast period due to regulatory reforms supporting biopharmaceutical manufacturing, rapidly developing economies, large population size, growing disposable income, government support for biotech research, and growing focus of key players in the region
Top Key players:
Key players operating in the global cell culture market include Fujifilm Corporation (Japan), HiMedia Laboratories (India), Merck Group (Germany), GE Healthcare (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), PromoCell GmbH (Germany), Lonza (Switzerland), Corning Inc. (U.S.), Becton Dickinson (U.S.), CellGenix GmbH (Germany), InvivoGen (U.S.), Sartorius (Germany), and Eppendorf (Germany) among others. Key players have focused on new product launches, agreements, acquisitions, expansions, and collaborations. These strategies have helped them to augment their geographic footprint, increase customer base, and bring diversity in their product basket to cater the unmet needs of the end users in the cell culture market.
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