The cell culture market was valued at US$ 21,722.8 million in 2021 and is likely to reach US$ 44,330.1 million by 2028; it is expected to grow at a CAGR of 10.7% between 2022 and 2028.
Cell-based vaccine is developed from mammalian cell lines instead of embryonic chicken eggs. Cell culture techniques are alternative options for existing egg-based strategies. Cell culture technology is more flexible than traditional technology relying on an adequate supply of eggs. The main advantage of the cell culture vaccine is its new production process, as it is not dependent on egg supply.
MARKET DYNAMICS
The small and big companies in the cell culture market are adopting various strategies, including regional expansion and technological advancements, to increase their market share. Rising awareness regarding the benefits of cell-based vaccines and the increasing demand for monoclonal antibodies are boosting the cell culture market growth. Furthermore, funding for cell-based research is growing due to the surging preference for single-use technologies and the rising need for personalized medicine. Moreover, the increasing number of advanced cell culture product launches and FDA approvals for personalized medicines are expected to create opportunities for the market during the forecast period.
MARKET SCOPE
The "Global Cell Culture Market Analysis to 2028" report aims to provide an overview of the cell culture market with detailed market segmentation based on product, application, and end user. The report provides key statistics based on the financial performances of the leading market players. It also offers key trends and opportunities in the market.
Strategic Insights
MARKET SEGMENTATION
The global cell culture market is segmented on the basis of product, application, and end user. Based on product, the market is bifurcated into consumables and equipment. By application, the market is segmented into biopharmaceuticals, drug screening & developments, tissue engineering & regenerative medicines, diagnostics, and others. In terms of end user, the market is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, research & academic institutes, and others.
REGIONAL FRAMEWORK
The global cell culture market is segmented into five major regions—North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and South & Central America. The report covers analysis and forecast of 18 countries globally along with trends and opportunities prevailing in all above mentioned region.
North America dominates the cell culture market. The growth of the market in North America is majorly driven by the increasing technological advancements, growing biotechnology & pharmaceutical industries, surging regulatory approvals for cell culture-based vaccines, and high investments in cell-based research. In November 2019, Thermo Fisher Scientific announced the investment of US$ 250 million in the US, India, the UK, Argentina, and China. The investment would boost its ability to manufacture cell culture media and expects to complete the work by 2021. Furthermore, the rising incidence of diseases, such as cancer, and strong government funding are fuelling the growth of the overall regional market to a large extent.
The below figure shows the revenue growth trend in the North American cell culture market:
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Source: The Insight Partners Analysis
The report analyses factors, such as drivers, restraints, opportunities, and future trends, which impact the growth of the cell culture market. The report also provides PEST analysis highlighting the factors affecting the cell culture market in these regions.
IMPACT OF COVID-19 PANDEMIC
According to the World Health Organization (WHO), as of August 2022, there were 596,873,121 confirmed cases of COVID-19 and 6,459,684 deaths. The highest number of deaths was in the Americas, followed by Europe and Southeast Asia.
The COVID-19 pandemic has prompted vital pharmaceutical and biotechnology companies to produce several vaccines or antiviral drugs for COVID-19 management. A few vaccines have been approved or are under development and manufacturing. Cell culture is an integral part of drug development and manufacturing. Thus, the COVID-19 pandemic had a positive impact on the cell culture market.
MARKET PLAYERS
The report covers key developments in the cell culture market. Various companies are focusing on organic growth strategies, such as product launches, product approvals, and patents and events. In addition, acquisitions, and partnership & collaborations are among the inorganic growth strategies witnessed in the market. These activities have paved way for expansion of business and customer base of market players. The players operating in the cell culture market are anticipated to experience lucrative growth opportunities in the future owing to the rising demand for cell culture products.
The report also includes the profiles of key cell culture market companies along with their SWOT analysis and market strategies. In addition, it focuses on leading industry players with information such as company profiles, components and services offered, financial information of last three years, and key development in past five years.
Below mentioned is the list of few companies engaged in the cell culture market.
-Thermo Fisher Scientific Inc.
-Merck KGaA
-Danaher Corporation
-Corning Incorporated
-Eppendorf AG
-FUJIFILM Irvine Scientific, Inc.
-Lonza Group AG
-Sartorius AG
-Agilent Technologies, Inc.
-Getinge AB
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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