Cell Culture Market is poised to increase at a CAGR of 11.9%, reaching US$ 75 Bn by 2032
With an estimated CAGR of 11.9% during the projected period, the cell culture market share is expected to reach US$ 75 Bn by 2032, finds a recent report published by FMI. The study finds that the rising awareness about the benefits of cell-based vaccines gives rise to the cell culture market.
Cell culture has become an essential aspect of vaccine manufacture in the pharmaceutical business. Vaccines for rotavirus, polio, smallpox, hepatitis, rubella, and chickenpox have all been developed using cell culture technology. Cell-based flu vaccines have also been approved for use in the United States and many European nations.
Cell culture could be a good starting point for developing new COVID-19 vaccines. Researchers working on the related coronaviruses SARS and MERS are focusing on cell culture-based treatment options for COVID-19, as well as research into producing cell culture-based vaccinations.
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Furthermore, the growing awareness of the benefits of cell culture-based vaccines and the regulatory approval of many cell culture-based vaccines around the world are projected to drive the cell culture market forward over the forecast period.
Researchers have been able to develop novel medicines to cure life-threatening diseases because of technological improvements. The utilization of cell culture is required for vaccinations and personalized treatment. As a result of the factors mentioned above, the cell culture industry is expected to grow.
The cost of cell biology research has risen dramatically due to the growing need to maintain high-quality standards (via the use of high-grade materials) and adhere to regulatory guidelines. As a result, several academic institutions and small businesses have benefited.
On account of the factors stated above, the cell culture market size is expected to rise at US$ 41.3 Bn by 2026.
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● During the projection period, the consumables segment is expected to report the largest market share due to increased funding for cell-based research.
● The Pharmaceutical & Biotechnology Companies sector is the largest stakeholder in the cell culture market, depending on the end user, due to the expansion of major pharmaceutical businesses and increased regulatory approvals for cell culture-based vaccines.
● North America currently dominates the cell culture market, and this trend is projected to continue over the forecast period. The growing demand for individualized medication and the existence of prominent companies in the market are primarily responsible for this.
● Leading manufacturers focus on increasing their geographical presence in rising Asia-Pacific countries to gain high market share is predicted to fuel the region’s cell culture market expansion.
With the large pool of players in the Cell Culture Market, the nature of the market is fragmented.
The primary critical players in the market are Becton, Dickinson and Company, Corning Incorporated, Eppendorf, Sartorius AG, Merck KGaA, Lonza Group AG, PromoCell GmbH, Danaher Corporation, Thermo Fisher Scientific, and HiMedia Laboratories.
Recent Developments in the Cell Culture Market:
● Thermo Fisher Scientific introduced its new Gibco Human Plasma-like Medium (HPLM) in March 2021, the first cell culture medium that matches the metabolic profile of human plasma and is intended to give researchers a realistic perspective of cell growth within the human body.
● Captivate Bio’s array of cell culture tools was launched in January 2021 to support the fight against COVID-19, and other developing diseases and solve the gaps shown by supply chain challenges and delays in cell culture media manufacturing in the United States.
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Key SegmentsBy Product:
- Supporting Equipment
- Storage Equipment
- Biopharmaceutical Production
- Monoclonal antibodies
- Vaccines production
- Other therapeutic proteins
- Drug Screening & Development
- Tissue Engineering & Regenerative Medicine
- Cell and gene therapy
- Drug Screening & Development
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Research & Academic Institutes
- North America
- Latin America
- Asia Pacific
- Middle East and Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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