Press release
Revolutionizing Research: Breakthroughs in Cell Culture
According to The Business Research Company's, The cell culture market size has grown rapidly in recent years. It will grow from $27.66 billion in 2023 to $30.67 billion in 2024 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to increasing demand for cell culture products, growing vaccine production, growing demand for 3d cell culture, demand for cell culture consumables.
The cell culture market size is expected to see rapidly grown in the next few years. It will grow to $48.33 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%. The growth in the forecast period can be attributed to expansion of cell therapy, precision medicine, globalization of research and production, cell-based assays. Major trends in the forecast period include advances in cell culture technology, bioprocessing technologies, advanced cell imaging, integration of automation, biomanufacturing data management.
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Market Drivers and Trends:
The rise in demand for cell therapy is expected to drive the cell culture market growth. In cell therapy, viable cells are injected or implanted into a patient's body to cure a medicinal disease. Cell culture is a vital step in any cell-based therapy. For instance, in February 2023, according to reports published by Gilead Sciences Inc., a US-based pharmaceutics company, cell therapy product sales surged by 75%, reaching $419 million in the fourth quarter of 2022 compared to the corresponding period in 2021. Cell culture is used in the development, manufacture, and commercialization of cell therapies and holds the potential to revolutionise the healthcare industry for the treatment of various diseases. Hence, a surge in the demand for cell therapy aids in the growth of the cell culture market.
Major companies operating in the cell culture market are developing innovative cell culture solutions, such as the cQrex portfolio, to improve the efficiency and productivity of cell cultures and address the challenges of cell culture. cQrex portfolio of cell culture ingredients to increase efficiency and productivity. The cQrex portfolio of cell culture ingredients is a suite of peptides and the acid AKG, which are designed to help manage the supply of critical nutrients by improving their stability or solubility in order to increase productivity. For instance, in June 2023, Evonik Industries AG, a Germany-based specialty chemicals company, launched the cQrex portfolio of cell culture ingredients to increase efficiency and productivity. It is a valuable tool for cell culture scientists who are looking to improve the efficiency and productivity of their cell cultures. It is particularly useful for cultures that are used to produce high-value products, such as monoclonal antibodies and vaccines. It is used for its high purity, wide range of applications, and easy of use. Moreover, these ingredients can help cell culture scientists improve the efficiency and productivity of their cell cultures.
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Major Key Players of the Market:
Becton Dickinson; Corning Incorporation; Eppendorf; GE Healthcare; Merck KGaA; Thermo Fisher Scientific; Lonza Group; HiMedia Laboratories; Agilent Technologies Inc.; PromoCell GmbH; CellGenix GmbH; InvivoGen; Greiner Bio-One; Irvine Scientific; Cell Culture Company (CCC) LLC; Sera Care Life Sciences Incorporation; American Type Culture Collection; Miltenyi Biotec; AITbiotech Pte Ltd.; ESSEN; Sigma-Aldrich; Bel-Art; Sumitomo Bakelite; EMD Millipore; VWR International LLC; WHEATON IndustriesInc; Sartorius AG; Nunc Systems; Pall Corporation; PerkinElmer Genomics; Saint-Gobain
Cell Culture Market 2024 Key Insights:
• The cell culture market size will grow to $48.33 billion in 2028 at a compound annual growth rate (CAGR) of 12.0%.
• Rising Demand For Cell Therapy Drives Growth In The Cell Culture Market
• Innovative Cqrex Portfolio Enhances Efficiency And Productivity In The Cell Culture Market
• North America was the largest region in the cell culture market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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