Cell Culture Market | Ongoing Trends and Recent Developments | Major Key Players like Merck KGaA (Germany), GE Healthcare (US), Thermo Fisher Scientific (US)

The Cell Culture Market is experiencing significant growth due to the increasing demand for monoclonal antibodies, rising funding for cell-based research, growing preference for single-use technologies, growing awareness about the benefits of cell culture-based vaccines, and increasing focus on personalized medicine.

What the Market Looks Like?

Predicted to grow at a CAGR of 12.7% during the forecast period, the Global Cell Culture Market is estimated to reach USD 29.2 billion by the end of 2024. In 2019, North America was the largest regional market

On the basis of application, the Cell Culture Market is categorized into biopharmaceutical production, stem cell research, diagnostics, drug discovery & development, tissue engineering & regenerative medicine, and other applications. The high growth of this segment is attributed to the commercial expansion of major pharmaceutical companies, growing regulatory approvals for the production of cell culture-based vaccines, and increasing demand for monoclonal antibodies (mAbs). This segment is further divided into vaccine production and therapeutic proteins. Of these, therapeutic proteins accounted for the largest share of the market for biopharmaceutical production.

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Based on end user, the is segmented into pharmaceutical & biotechnology companies, research institutes, hospitals & diagnostic centers, and cell banks. The pharmaceutical and biotechnology companies segment accounted for the largest market share in 2018 and is projected to register the highest CAGR during the forecast period. The growing use of single-use technologies, increasing number of regulatory approvals for cell culture-based vaccines, and presence of a large number of pharmaceutical players in this market are driving the market for this end-user segment.

What Drives the Cell Culture Market?

The growth of the global market for Cell Culture is primarily influenced by the following factors:

• Growing Awareness About the Benefits of Cell Culture-Based Vaccines
• Increasing Demand for Monoclonal Antibodies
• Funding for Cell-Based Research
• Growing Preference for Single-Use Technologies
• Launch of Advanced Cell Culture Products
• Growing Focus on Personalized Medicine

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Geographical growth scenario of Cell Culture Market:

Geographically, the overall market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2018, North America accounted for the largest market share, followed by Europe. The growing regulatory approvals for cell culture-based vaccines, rising incidence of diseases such as cancer, strong government support, and conferences and symposiums that create awareness on the latest trends in cell culture technology are the key factors driving the growth of the Cell Culture Market in North America.

Leading market players and strategies adopted:

The prominent players operating in the Cell Culture Market include Merck KGaA (Germany), GE Healthcare (US), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Lonza (Switzerland), Eppendorf (Germany), HiMedia Laboratories (India), Corning Incorporated (US), Sartorius AG (Germany), PromoCell GmbH (Germany), Pall Corporation [acquired by Danaher (US)], CellGenix GmbH (Germany), Irvine Scientific (US), and InvivoGen (US).

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This release was published on openPR.