Cell Culture Market Size and Growth Rate:
The global cell culture market is expected to reach USD 26.28 Billion by 2023 from USD 15.32 Billion in 2018 growing at a CAGR of 11.4%.during the forecast period 2019-2023.
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Cell Culture Market Overview:
Cell culture refers to the process of development of cells under controlled conditions which vary with the type of cell that is under focus. The basic requirements for cell culture include a media, which contains all the nutrients required by the cell to develop and maintains the physiochemical environment suitable for the culture of cell. Cell culture helps to study the interaction between cell and disease-causing agents such as bacteria, virus, and other pathological elements.
Cell Culture Market Growth Drivers and Restraints:
The growth in this market is primarily driven by the growing number of regulatory approvals for cell culture-based vaccines, increasing demand for monoclonal antibodies (mAbs), funding for cell-based research, growing preference for single-use technologies, and the launch of advanced cell culture products. The consumables segment is accounting for the largest market share. The repeated purchase of consumables for various cell culture applications is a major factor supporting its growth. The cell culture can be applied to the fields of biopharmaceutical/therapeutic, stem cell technologies, drug screening and development, tissue engineering and regenerative medicine, cancer research, and other applications.
The stem cell therapy research is at its pinnacle in order to treat the cause of the disease supported by huge funding for the same.Growing advancement of proteomic gene expression and consequent development of novel vaccine and biopharmaceuticals is expected to drive up the demand for newer 3D cell culturing techniques over the forecast period because of the growing incidence of diseases.
Increase in the number of cancer research projects and enhanced applications of gene therapies are along with increasing incidences of chronic diseases have led to increase in cell biology & cytological studies and associated research resulting in the growth for cell culture.
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Cell Culture Market Geographical Segmentation:
North America is expected to dominate the market in the near future followed by Europe. The large share is attributed to the growing regulatory approvals for cell culture-based vaccines, rising incidence of diseases such as cancer, a strong government support, and conferences and symposiums that create wide awareness on the latest trends in cell culture technology. Asia Pacific is also a growing market for cell culture owing to the rise in healthcare focus and rising population and rise in incidence of chronic diseases.
Key Players of the Cell Culture Market:
Some of the key players in this global market today are Sigma-Aldrich Co., LLC, Sartorius, Thermo Fisher Scientific, Becton, Dickinson & Company, General Electric, Lonza, Corning, Merck, Promocell, and Eppendorf.
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