Press release
Cell Culture Media, Sera, and Reagents Market to Grow at a CAGR of 7.1%. through 2023
The high incidence of chronic diseases and the growing demand for treating them in a customized way has been the driving force behind the global cell culture market. The increasing investments in the research and development of newer products in the pharmaceutical sector and growing applications of cell culture have collectively propelled the overall market. The evolution of genetic engineering, artificial organs, and recombinant DNA technology, amongst others have made cell culture market integral to the overall healthcare industry.
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Transparency Market Research reports that the opportunity in the global cell culture market will be worth US$11.3 bn in 2022 as against US$6 bn in 2013. During the forecast period of 2014 to 2022, the global market is anticipated to clock a CAGR of 7.1%. The burgeoning demand for biopharmaceuticals will also benefit this market as it will offer specific solutions taking into consideration the genetic makeup of the patient along with the physiological and biological needs. The growing demand for and adoption of artificial organs will also benefit the market in the forecast period.
Technological Advancements Increase Application Options of Cell Culture across North America
North America has been identified as the leading geographical segment of the global cell culture market. Valued at US$2.2 bn in 2014, the market is anticipated to reach US$3.7 bn by 2022 due to the high incidence of cancer cases and other metabolic diseases. The region has also witnessed the introduction of new cell culture technologies and protocols with ongoing technological advancements such as multi-faceted bioprocessing systems, the development of 3D cell culture, and automated cell culture instruments.
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The increasing emphasis on intensive research and development activities to widen the scope of applications in carcinogenesis, mutagenesis, and large-scale manufacturing of biological compounds such as therapeutic proteins and vaccines has also played a critical role in putting North America in the leading position. The high disposable income of the consumers and the supportive healthcare infrastructure is also anticipated to boost the North America cell culture market.
Cell Culture Media Segment Leads with 8.8% CAGR
According to the report, the cell culture media segment held the leading share in the global market and is anticipated to be the fastest growing segment at a CAGR of 8.8% between 2014 and 2022. The consistent efforts to provide high-quality media for achieving accurate and reproducible results are expected to keep the cell culture media segment at the forefront in the coming years. The commercialization of stem cells and ongoing technological developments are expected to support the shift to serum-free animal-derived media in the near future. Experts have also observed that there has been a considerable demand for medial powders and ready-to-use liquid media.
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Some of the key players operating in this market are GE Healthcare, Sigma-Aldrich Corporation, BD Biosciences, VWR International, EMD Millipore, Lonza Biosciences, and Thermo Fisher Scientific, Inc. Players are focusing on introducing improved technologies such as 3D cell culture techniques to deliver better results as compared to 2D cell cultures. Players will proactively work towards meaningful collaborations, mergers and acquisitions, and value additions to product portfolios to remain competitive in the global market.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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