(PharmaNewsWire.Com, March 19, 2021 ) The cell culture market is projected to reach USD 33.1 billion by 2025 from USD 19.0 billion in 2020, at a CAGR of 11.8% during the forecast period. Growth in this market.
The biopharmaceutical production segment is expected to grow at the highest CAGR during the forecast period
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 cell culture market for biopharmaceutical production.
In 2018, pharmaceutical and biotechnology companies accounted for the largest share of the cell culture market
Based on end user, the cell culture market 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 cell culture market for this end-user segment.
North America was the largest regional market for cell culture in 2018
By region, the cell culture 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.
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).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
