Cell Culture Market to Propel with US$ 75 Billion Revenue by 2032 due to Bourgeoning Investments in Research and Development Creating Growth Prospects. Growing demand for cell culture products in the treatment of chronic diseases in North America to boost the market growth
NEWARK, Del, Dec. 06, 2022 (GLOBE NEWSWIRE) -- The global cell culture market is anticipated to grow at a stupendous CAGR of approximately 11.9% throughout the forecast period from 2022 to 2032. The global market touched a valuation of around US$ 22 Billion in 2021 and is likely to reach US$ 43 Billion in 2026. The cell culture market is anticipated to surpass a valuation of around US$ 75 Billion by 2032.
The growth of the market is expected to bolster due to the surging demand for biopharmaceuticals such as vaccines and stem cells, and increasing research and development activities, the overall cell culture market. Furthermore, cell culture is utilized within the pharmaceutical and biotechnology industries including diagnostic laboratories, and research institutes for applications such as drug discovery and production and diagnostic screening.
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Throughout the period ranging from 2020 to 2022, cell culture demand prospects witness an opulent growth prospect owing to an increase in the demand for cell culture products. Many researchers and pharmaceutical giants used cell culture techniques for developing vaccines and stem cell therapies during the pandemic and this cell culture market trend is likely to continue during the forecast period. In addition to that, various applications including the development of model systems for research, analysis of cellular structures & their mechanisms, drug discovery for treatment of diseases such as Alzheimer’s, stem cell research, drug evaluation, genetic engineering, and production of biologics such as antibodies, vaccines, and proteins used cell culture.
During the assessment period, the global cell culture market is expected to be driven by surging drug research and development activities along with the increasing popularity of 3D cell cultured techniques in basic research and drug delivery, preference for single-use technologies, the surge in chronic diseases, and rising demand for biopharmaceuticals. Furthermore, increased awareness of the numerous benefits of cell-based vaccines paired with increased demand for monoclonal antibodies (mAbs) is positively impacting the demand for cell cultures. Over recent years, cell culture has become a vital technique used in the pharmaceutical and biotechnology industries, diagnostic laboratories, and research institutes for applications such as drug discovery and production and diagnostic screening.
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The growth of the cell-cultured market in North America is attributed to the widespread adoption of new techniques and technologically advanced ways such as next-generation sequencing, higher awareness, increase in healthcare spending in national budgets, early availability of advanced technologies, and higher penetration of research activities across the region.
The surging demand for biopharmaceuticals such as vaccines, stem cell therapies, and gene therapies, an increasing number of regulatory approvals, and a rising incidence of cancer. The surging prevalence of several diseases in the region is anticipated to prompt the government and pharmaceutical companies to invest vigorously in new drug research and development activities.
A reasonable increase has been witnessed within outsourcing and expansion of biopharmaceutical manufacturers which are predicted to drive the market in Asia Pacific. Furthermore, attributing to the presence of many research organizations, low manufacturing costs, low labor costs, and developing healthcare infrastructure, in Asian countries like China and India, the demand for cell culture is high.
Furthermore, various advancements taking place in the cell culture medium market along with the drastic growth of the particle counter market and expansion of end-use verticals such as pharmaceutical companies and research institutes will create immense opportunities for cell culture manufacturers.
Various other factors responsible to boost growth in the global cell culture market in the biopharmaceutical sector include rising government initiatives to promote research to find a cure for the rising number of chronic diseases, an increasing number of pharmaceutical manufacturers, improving economies, high disposable income per individual, and increased healthcare spending are propelling the market in this region forward. The surging investments in R&D combined with the establishment of new manufacturing sites for the mass production of biopharmaceuticals will create growth prospects within the global cell culture market in the Asia Pacific.
The global cell culture industry is relatively competitive in nature and is expected to be dominated by a handful of large companies. Prominent manufacturers within the global cell culture market are predicted to adopt various organic and inorganic growth strategies such as partnerships, collaborations, mergers, acquisitions, new product launches, and investments in research and development activities to gain a competitive edge in the cell culture market.
Thermo Fisher Scientific
Dickinson and Company
Sartorius AG, among others
More Insights into the Cell Culture Market
The North American region is anticipated to dominate the global cell culture market by accounting for the largest market of around 39.6% during the forecast period.
Other therapeutic proteins
Drug Screening & Development
Tissue Engineering & Regenerative Medicine
Cell and gene therapy
By End User:
Pharmaceutical & Biotechnology Companies
Hospitals & Diagnostic Laboratories
Research & Academic Institutes
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. FMI Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Cell Culture
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Mn)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
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