Cell Culture Market Revenue to Worth Over US$ 27,565.9 Million by 2027 | CAGR: 7.2%: Coherent Market Insights
Impact Analysis of Covid-19
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.
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.
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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 PRESS RELEASE, click the link below: https://www.coherentmarketinsights.com/press-release/cell-culture-market-to-surpass-us-225-billion-by-2024-22
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.
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Key Takeaways of the Cell Culture Market:
- The global cell culture market is expected to exhibit a CAGR of 7.2% over the forecast period, owing to increasing incidence of chronic diseases such as cancer, increasing investments from major manufacturers, and increasing product launches by key players. For instance, in May 2019, Bayer AG announced investment of US$ 150.0 million at Bayer’s Berkeley Campus, California, U.S. to increase production capabilities for biologics. The facility is expected to begin by 2021.
- Among product type segment, consumables segment is expected to exhibit highest CAGR in the global cell culture market during the forecast This is attributed to increasing product launches and increasing research and development activity For instance, in march 2016, Lonza launched PowerCHO Advance media, a serum-free media for culturing Chinese Hamster Ovary (CHO) cells designed to offer improved cell-growth promotion and high protein titers
- Among end-user, pharmaceutical and biotechnology companies segment held dominant position in the global cell culture market, owing to increasing investments in research and development from major manufacturers, and increasing product launches. For instance, in May 2019, Thermo Fisher Scientific Inc. launched GIBCO CTS LV-MAX Lentiviral Production System. The new system is designed to produce high titer lentiviral vectors. The launch of the system is expected to enhance Thermo Fisher market position in cell and gene therapy portfolio.
- Key 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.
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