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(Health-NewsWire.Net, August 17, 2022 ) According to a new market research report titled, 'Cell Culture Market by Product [Consumables (Media, Reagents, Sera, Cell Lines), Equipment (Bioreactor, Centrifuge, Cell Counter)], Application (Bioproduction, Cancer Research, Stem Cell, Diagnostic), End User (Pharma, Academic) - Global Forecast to 2029,' published by Meticulous Research®, the cell culture market is expected to grow at a CAGR of 11.7% from 2022 to 2029, to reach $48.63 billion by 2029.
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A major factor contributing to the growth of this market is the increasing prevalence of chronic diseases. Hence, research studies are carried out for the treatment of these diseases. The drug development-related research studies involve cell culture techniques. Furthermore, the aging population increases the chances of age-related chronic diseases, further driving the market growth.
Additionally, there has been an increase in the adoption of single-use technology due to its advantages compared to other conventional technology, such as pre-sterilized condition, no post-process cleaning of the system, and less contamination. These factors further propel the demand for cell culture products.
Additionally, the growing adoption of 3D cell culture and the growth potential of personalized medicine are expected to offer significant growth opportunities for the players operating in the cell culture market.
The cell culture market is segmented by product [consumables (media {cell culture media, by physical form–dry powder media, liquid media}, {cell culture media, by type–off-the-shelf media, custom media}, {cell culture media; source-chemically defined media, serum-free media, classical media, xeno-free/animal component free, other cell culture media}), reagents (growth factors and cytokines, cryoprotective reagents, antibiotics/ antimycotics, cell dissociation reagents, buffers, balanced salt solutions, attachment and matrix factors, other cell culture reagents), cells and cell lines, sera (fetal bovine serum, other sera), cell culture vessels (cell culture dishes, cell culture plates, cell culture flasks, roller bottles, other cell culture vessels)) equipment (cryopreservative containers, refrigerators and freezers, biosafety cabinets, incubators, sterilizers, bioreactors, microscopes, centrifuges, cell counters, water baths, other equipment)]; application [bioproduction (monoclonal antibody production, therapeutic protein production, vaccine production, cell and gene therapy)], diagnostics, cancer research, drug screening and development, stem cell research); end user (pharmaceutical and biotechnology companies, academic and research institutes, diagnostic laboratories); and geography (North America, Europe, Asia-Pacific, Latin America, and MEA). The study also evaluates industry competitors and analyzes their market shares at country and regional levels.
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Based on product, in 2022, the consumables segment is estimated to account for the largest share of the cell culture market. The segment is also expected to register the highest CAGR during the forecast period. The major factor contributing to the segment's lucrative growth is the adoption of cell culture techniques for various applications in the life science sectors such as cancer research, stem cell research, bioproduction, and diagnosis. Hence, the recurrent use of consumables for research studies and production facilities.
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Based on application, the bioproduction segment is expected to register the highest CAGR during the forecast period. Bioproduction includes monoclonal antibody production, therapeutic protein production, vaccine production, and cell and gene therapy. These applications are gaining popularity due to their effectiveness in treating diseases. Moreover, vaccine production was at a higher rate during the pandemic. Due to their effectiveness, an increase in approvals for monoclonal antibodies was also observed during the pandemic, contributing to the growth of this segment.
Based on end user, the pharmaceutical and biotechnology companies segment is expected to register the highest growth rate during the forecast period. The major factor contributing to the growth of this segment is the rise in R&D spending of these companies for drug discovery and developments, vaccine production, and cancer cells. Additionally, these companies use cell culture products to produce biomolecules, further leading to market growth.
Based on geography, Asia-Pacific is expected to register the highest growth rate during the forecast period. Major factors contributing to the growth of this segment are the expansion of the biopharma and pharma companies in the region, an increase in the funding for research studies, and the growing number of clinical research activities.
Some of the key players operating in the cell culture market are Merck KGaA (Germany), Thermo Fisher Scientific Inc. (U.S.), PromoCell GmbH (Germany), Cytiva (U.S.), Lonza Group Ltd (Switzerland), Corning Incorporated (U.S.), Becton, Dickinson and Company (U.S.), HiMedia Laboratories (India), Sartorius AG (Germany), Eppendorf SE (Germany), FUJIFILM Holdings Corporation (Japan), Agilent Technologies, Inc. (U.S.), Getinge AB (Sweden), Miltenyi Biotec B.V. & Co. KG (Germany), and Solida Biotech GmbH (Germany).
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/cell-culture-market-4788
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