Press release
South Korea Cell Culture Market Size & Share | Industry Analysis, Regional Outlook, Growth, Forecast 2027
The South Korea cell culture market size was valued at $216.3 million in 2019, and is projected to reach $606.4 million by 2027, registering a CAGR of 13.7% from 2020 to 2027.COVID-19 outbreak has considerable impact on South Korea. Increase in cases of COVID-19 in the country has fueled the need of vaccines, which resulted in many R&Ds, thereby boosting the demand for cell culture products. Thus, this is expected to support the market growth over the forecast period.
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Cell culture refers to the culture of nucleated (eukaryotic) cells under controlled conditions within the laboratory. In this process, cells are removed from the organism and introduced into an artificial environment with favorable conditions. Moreover, this artificial environment is composed of all the necessary nutrients such as ideal temperature, gases, pH, and humidity, which are essential for the growth and proliferation of the cells. Removal of cells from the tissues can be carried out either by mechanical or enzymatic method before cultivation. The cells to be grown can also be derived from a cell line or cell strain that has already been established.
Different types of tools and machines are employed in the production of cell culture. These machines are known as instruments. Furthermore, different types of chemicals are also employed in the production of a cell culture. These chemicals are also known as consumables, as are completely consumed in the process. Culture condition required for cell culture includes substrate or medium, growth factors, hormones, gases, and regulated physico-chemical environment.
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Factors that drive the growth of the cell culture market include prevalence of cancer, increase in adoption of cell culture technique, and rise in research funding in South Korea. For instance, according to the report published by National Cancer Center Korea, cancer is the most common cause of death in Korea as well as it is responsible for one out of every three deaths in the country. In 2016, the number of cancer cases in the country was 231,236, which was increased to 232,255 in 2017. Different key players offer cell culture products that are consistently used for cancer research. For instance, key players such as Thermo Fisher Scientific Inc. offer cancer cytogenetic media and heat stable recombinant human basic fibroblast growth factor (bFGF), which are used while performing wound healing assays, or scratch assays, to determine the migratory potential of cancer cells.
However, high capital investment and lack of infrastructure for cell-based research are anticipated to restrain the South Korea cell culture market growth during the forecast period.
On the contrary, expected rise in demand for advanced technologies is likely to create ample opportunities for the market growth in the near future.
The World Health Organization (WHO) on January 30, 2020, declared COVID-19 outbreak a public health emergency of international concern. For instance, according to the Korea Centers for Disease Control and Prevention (KCDC), in March 2021, the number of coronavirus-infected people has increased to 7,382 in South Korea, with a total of 51 deaths from the COVID-19 registered in the country. Furthermore, rise in demand for cell culture product due to the pandemic has been witnessed. In addition, increase in number of cases of COVID-19 drives the need for vaccines, which leads to research and development as vaccines are in clinical trial. Therefore, there is a requirement of cell line and different cell culture techniques used in COVID-19. In addition, researchers are trying to understand the disease at a molecular level to develop therapeutic interventions. However, primary cells are excellent models for studying respiratory diseases. Primary cell culture offers the opportunity to understand lung disease mechanisms at a cellular level and to specifically target pathogenic processes using therapeutic compounds during COVID-19 pandemic. Thus, COVID-19 is expected to boost the demand for cell culture market in the near future.
South Korea Cell Culture Market Segmentation
The South Korea cell culture market is categorized into product, application, and end user. On the basis of product, the market is segmented into consumables and instruments. The consumables segment is further divided into sera, media, reagents, and bioreactor accessories. The instrument segment is additionally sub-segmented into bioreactors, cell culture vessels, cell culture storage equipment, and cell culture supporting instruments. The consumables segment dominated the market in terms of revenue in 2019, owing to higher consumption of cell culture consumables along with repeated purchase of cell culture consumables as compared to cell culture instruments.
On the basis of application, the South Korea cell culture market is classified into stem cell technology, cancer research, drug screening and development, tissue engineering & regenerative medicine, and others. The tissue engineering & regenerative medicine segment spearheaded the market, owing to increase in applications of cell culture in tissue engineering and regenerative medicine.
On the basis of end user, the South Korea cell culture market is divided into research institutes, pharmaceutical & biotechnology companies, and others. The pharmaceutical & biotechnology companies segment is expected to dominate the market throughout the forecast period, owing to expansion of major pharmaceutical companies and growing regulatory approvals for the production of cell culture-based vaccines.
The key players operating in the South Korea cell culture market include Thermo Fisher Scientific Inc., Merck KGaA, Danaher Corporation (Cytiva), Bio-Rad Laboratories Inc., Sartorius AG, FUJIFILM Holdings Corporation (FUJIFILM Irvine Scientific, Inc.), Corning Incorporated, Avantor, Inc. (VWR International, LLC), Miltenyi Biotec B.V. & Co. KG, and STEMCELL Technologies Inc. The cell culture market is competitive in nature, as major players in this vertical are concentrating on growth strategies such product launch, operational expansion, acquisition, partnership, and collaboration to attain competitive edge in the market.
For instance, in April 2020, Danaher Corporation launched Cytiva in South Korea, which aims to completely rebrand the GE (General Electric’s) Healthcare LifeScience.
By Product
o Consumables
o Sera
o Media
o Reagents
o Bioreactor Accessories
o Instruments
o Bioreactors
o Cell Culture Vessels
o Cell Culture Storage Equipment
o Cell Culture Supporting Instruments
By Application
o Stem Cell Technology
o Cancer Research
o Drug Screening and Development
o Tissue Engineering & Regenerative Medicine
o Others
By End-User
o Research Institutes
o Pharmaceutical & Biotechnology Companies
o Others
List of key players profiled in the report
o Avantor, Inc. (VWR International, LLC)
o Bio-Rad Laboratories Inc.
o Corning Incorporated
o Danaher Corporation (Cytiva)
o FUJIFILM Holdings Corporation (FUJIFILM Irvine Scientific, Inc.)
o Merck KGaA
o Miltenyi Biotec B.V. & Co. KG
o Sartorius AG
o STEMCELL Technologies Inc.
o Thermo Fisher Scientific Inc.
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