Cell Culture Market - Industry-Specific Opportunities and Trends Affecting the Growth

2022-06-06 12:26:42 UTC | Healthcare & Pharmaceuticals
Cell Culture Market - Industry-Specific Opportunities and Trends Affecting the Growth
MarketsandMarketsā„¢ Research Report's View on Revenue Impact?

The global cell culture market is projected to reach USD 41.3 billion by 2026 from USD 22.8 billion in 2021, at a CAGR of 12.6 % between 2021 and 2026.

Factors Responsible for Growth and In-Depth Analysis? 

Growing awareness about the benefits of cell-based vaccines;

The growth in population, climate change, and increasing contact between humans and animals have increased the threat of new virus outbreaks. Influenza and COVID-19, for example, have proven unpredictable and recurring events that pose a significant economic and social burden. As of February 4, 2022, 386.55 million cases of COVID-19 were confirmed globally, including 5.71 million deaths, by the WHO. The increasing incidence of infectious diseases and the growing risk of pandemics are expected to drive vaccine demand worldwide. In the pharmaceutical industry, cell culture has become a prominent part of vaccine production. The cell culture technology has been used to produce vaccines for rotavirus, polio, smallpox, hepatitis, rubella, and chickenpox. Cell-based flu vaccines have also been approved for use in the US and many European countries. Increasing awareness of the benefits of cell culture-based vaccines, coupled with the regulatory approval of several cell culture-based vaccines worldwide, are the major factors that are expected to support the growth of the cell culture market during the forecast period.

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Leading Key Players and Analysis:

Key players in the Cell Culture Market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Corning Incorporated (US), Eppendorf AG (Germany), FUJIFILM Irvine Scientific, Inc. (Japan), Lonza Group AG (Switzerland), Sartorius AG (Germany), Agilent Technologies, Inc. (US), Getinge AB (Sweden), Becton, Dickinson and Company (US), Miltenyi Biotec (Germany), HiMedia Laboratories (India), STEMCELL Technologies Inc. (Canada), Solida Biotech GmbH (Germany), Caisson Laboratories Inc. (US), PromoCell GmbH (Germany), InvivoGen (US), Pan-Biotech GmbH (Germany), Cellexus (UK), Meissner Filtration Products Inc. (US), Adolf KĆ¼hner AG (Switzerland), SeraCare Life Sciences Inc. (US), ANGUS Chemical Company (US), and Biospherix Ltd. (US)

Geographical Analysis in Detailed?

The global cell culture market has been segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. In 2020, North America accounted for the largest share of 39.6% of the cell culture market. The growing regulatory approvals for cell culture-based vaccines, technological advancements, growth in the biotechnology & pharmaceutical industries, higher investments in cell-based research, rising incidence of diseases such as cancer, and strong government support are the key factors driving the growth of the cell culture market in North America.

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Industry Segmentation:

The growth is majorly driven by the growing awareness about the benefits of cell-based vaccines, increasing demand for monoclonal antibodies (mAbs), funding for cell-based research, growing preference for single-use technologies, the launch of advanced cell culture products, and the growing focus on personalized medicine. On the other hand, the high cost of cell biology research is restraining the growth of this market.

The consumables subsegment of the product segment dominated Cell Culture Market in 2020;

Based on product, the cell culture market is segmented into equipment and consumables. The cell culture equipment market is further segmented into supporting equipment, bioreactors, and storage equipment. The cell culture consumables market is segmented into sera, media & reagents, vessels, and bioreactor accessories. In 2020, the consumables segment accounted for the largest share of the market. The large share and high growth of the consumables segment can be attributed to the repeated purchase of consumables and an increase in funding for cell-based research.

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