Cell Culture Market to grow at a CAGR of 11.4%, report by MarketsandMarkets™

“The Cell Culture Market is fragmented with the presence of several large as well as emerging players. In 2017, Thermo Fisher Scientific (US), Merck KGaA (Germany), and GE Healthcare (US) were the leading players in the cell culture market. Other major pla”
The global cell culture market is expected to reach USD 26.28 billion by 2023 from USD 15.32 billion in 2018, at a CAGR of 11.4%. This market is experiencing significant growth due to the growing number of regulatory approvals for cell culture-based vaccines, increasing demand for monoclonal antibodies (mAbs), funding for cell-based research, growing preference for single-use technologies, and the launch of advanced cell culture products.

According to a new market research Cell Culture Market by Consumables (Serum free media, FBS, ABS), Equipment {Bioreactor, Supporting Equipment (Centrifuge, Filtration System), Application (Biopharmaceutical, Cancer Research), End Users (Pharma, Research) – Global Forecast to 2023″, published by MarketsandMarkets™, the cell culture market is segmented on the basis of product, application, end user, and region. Based on product, the cell culture market is segmented into equipment and consumables. The consumables segment accounted for the largest market share in 2017. It is also expected to register the highest CAGR during the forecast period. The repeated purchase of consumables for various cell culture applications is the major factor supporting the growth of the consumables segment during the forecast period.

Based on type, cell culture consumables are segmented into bioreactor accessories and sera, media, & reagents. The sera, media, and reagents segment accounted for the largest share in 2017 of the cell culture consumables markets. The large share of this segment is attributed to the repeated purchase of sera, media, and reagents for various cell culture applications.

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Based on application, the cell culture market is segmented into biopharmaceutical/therapeutic, stem cell technologies, drug screening & development, tissue engineering & regenerative medicine, cancer research, and other applications. The biopharmaceuticals/therapeutic applications segment is expected to register the highest CAGR during the forecast period. 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 an increase in the demand for monoclonal antibodies (mAbs).

Based on end user, the cell culture market is segmented into pharmaceutical and biotechnology companies and research institutes. The pharmaceutical and biotechnology companies segment accounted for the largest market share in 2017 and it 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.

Among the four regional segments, Asia is expected to grow at the highest CAGR during the forecast period. The high growth in the Asian market is attributed to factors such as favorable regulatory guidelines, lower manufacturing costs, growing presence of market players in emerging economies, and favorable government investments in the life sciences sector.

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