Press release
Cell Culture Market worth $57.9 billion by 2029
Asia Pacific is anticipated to register fastest growth in the cell culture owing to the increasing focus on advancement of biopharmaceutical industry, high government investments & fundings for R&D, and growing demand for cell and gene therapy.
Cell Culture Market [https://www.prnewswire.com/news-releases/cell-culture-market-worth-57-9-billion--marketsandmarkets-302099363.html] in terms of revenue was estimated to be worth $30.9 billion in 2024 and is poised to reach $57.9 billion by 2029, growing at a CAGR of 13.4% from 2024 to 2029 according to a new report by MarketsandMarkets Trademark . Some of the factors contributing to the growth of the global cell culture market includes increasing fundings and support from government and private organizations for cell-based research, growing popularity for biosimilars and monoclonal antibodies, and growth in advanced therapy medicinal products. However, high cost of cell biology research and limitations in producing high density cell culture are expected to hinder market growth.
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The consumables segment accounted for the largest share of the product segment in the cell culture market in 2023.
Based on products, the cell culture market is segmented into consumables and equipment. Consumables are further segmented into sera, media, reagents; vessels; and accessories. Equipment is further categorized as bioreactors, storage equipment, and other equipment. Consumables segment dominated the market in 2023 and is expected to grow at a higher rate during the forecast. The largest share of the segment is attributed to repetitive purchase of media & reagents, and growing R&D activities to develop and manufacture advanced therapies.
The pharmaceutical and biotechnology companies' segment is estimated to register the highest growth rate during the forecast period in the cell culture market.
Based on end user, the cell culture market is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, research & academic institutes, and other end users. The pharmaceutical & biotechnology companies' segment is estimated to register the highest growth rate during the forecast period. The rising demand for advanced therapies such as regenerative medicine due to increasing prevalence of chronic diseases is expected to boost the growth of pharmaceutical & biotechnology companies' segment in coming years.
The Asia Pacific region is the fastest-growing region of the cell culture market in 2023.
Based on the region, the cell culture market is segmented into major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register fastest growth in the cell culture owing to the increasing focus on advancement of biopharmaceutical industry, high government investments & fundings for R&D, and growing demand for cell and gene therapy.
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Cell Culture Market Dynamics:
Drivers:
* Increasing fundings for cell-based research
Restraints:
* High cost of cell biology research
Opportunities:
* Growth opportunities in emerging economies
Challenge:
* Disposal of plastic consumables
Key Market Players of Cell Culture Industry:
Key players in the cell culture market include Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Sartorius AG (Germany), Merck KGaA (Germany), Corning Incorporated (US), FUJIFILM Holdings Corporation (Japan), BD (US) Eppendorf SE (Germany), Lonza (Switzerland), Getinge AB (Sweden), Agilent Technologies, Inc. (US), HiMedia Laboratories (India), Miltenyi Biotec (Germany), STEMCELL Technologies (Canada), Solida Biotech GmbH (Germany), Caisson Labs (US), PromoCell GmbH (Germany), InvivoGen (France), PAN-Biotech (Germany), Cellexus (Scotland), Meissner Filtration Products Inc. (US), Adolf Kuhner AG (Switzerland), Bio-Techne (US), Advancion Corporation (US), and BioSpherix, Ltd. (US).
The primary interviews conducted for this report can be categorized as follows:
* By Respondent: Supply Side- 70% and Demand Side 30%
* By Designation: Managers - 45%, CXO & Directors - 30%, and Executives - 25%
* By Region: North America - 40%, Europe -25%, Asia-Pacific -25%, Latin America -5% and Middle East & Africa- 5%
Recent Developments of Cell Culture Industry:
* In September 2023, Thermo Fisher Scientific launched the Gibco CTS Detachable Dynabeads, a groundbreaking platform with an innovative active-release mechanism designed for the clinical and commercial operation of cell therapy manufacturing.
* In December 2023, Danaher acquired Abcam, a provider of validated antibodies, reagents, biomarkers, and assays crucial for drug discovery, life sciences research, and diagnostics. Within Danaher's Life Sciences segment, Abcam will continue to operate independently, aligning with Danaher's mission to advance disease understanding and expedite drug discovery.
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Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=cell-culture-market-worth-579-billion-by-2029]
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/cell-culture-market-media-sera-reagents-559.html
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