The cell culture market is witnessing high growth due to the factors such as increasing incidence of chronic diseases, increasing regulatory approvals for cell culture-based vaccines, increasing demand for monoclonal antibodies (mAbs), funding for cell-based research, growing use of single-use technologies, and technological advancements in the cell culture products. Key players in the market are focusing on new product launches, partnerships and collaborations, acquisitions, and expansions to strengthen their position in the market.
The cell culture market is segmented based on products, applications, end users, and region. On the basis of end users, the cell culture market is segmented into pharmaceutical and biotechnology companies and research institutes. Pharmaceutical and biotechnology companies offer lucrative growth opportunities and represent a new revenue pocket for the cell culture market owing to the increasing number of regulatory approvals for cell culture-based vaccines and the presence of a large number of pharmaceutical companies in the cell culture market.
On the basis of application, the market is segmented into biopharmaceutical applications/therapeutics; stem cell technologies, drug screening & development; tissue engineering & regenerative medicine; cancer research, and other applications. The biopharmaceutical applications/therapeutics segment is poised to grow at the highest CAGR during the forecast period owing to the greater benefits of cell culture-based vaccines coupled with increasing regulatory approvals.
North America dominates the cell culture market, followed by Europe. However, the cell culture market in Asia is expected to witness the highest growth due to the favorable regulatory guidelines, government support for cell culture-based vaccine production, low manufacturing cost, and growing focus of global market players in emerging Asian economies.
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