PORTLAND, Ore., Feb. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global, “Cell Culture Market size was pegged at $16.10 billion in 2019, and is anticipated to reach $36.92 billion by 2027, growing at a CAGR of 10.9% from 2020 to 2027. The report provides a detailed analysis of changing market trends, key investment pockets, major segments, product performance, and competitive scenario.
Major determinants of the market
Increase in adoption of cell culture techniques, rise in research funding, and surge in prevalence of cancer drive the growth of the global cell culture market. However, the high capital investment and lack of infrastructure of cell-based research hamper the market growth. On the contrary, increase in demand for advanced technologies is expected to open lucrative opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 outbreak has increased the demand for cell culture products to understand the disease and develop therapeutic interventions.
- Moreover, cell culture offers an opportunity to understand lung disease mechanisms at a cellular level and target pathogenic processes. This has increased the demand for cell culture products.
The consumables segment held the largest share
By product, the consumables segment dominated the market in 2019, accounting for more than two-thirds of the global cell culture market. Moreover, the segment is expected to portray the highest CAGR of 11.7% during the forecast period, due to the repeated purchase of consumables and increased funding for cell-based research. The report includes an analysis of the instruments segment.
The tissue engineering & regenerative medicine segment dominated the market
By application, the tissue engineering & regenerative medicine segment held the largest share in 2019, contributing to nearly two-fifths of the global cell culture market, due to advancement in technologies to develop and culture tissue from cells and increasing advances in biotechnology and its implementation in the biopharmaceutical sector. However, the cancer research segment is expected to manifest the highest CAGR of 13.2% during the forecast period, as cell culture could help in elimination of poor drug candidates and identification of physiologically relevant targets.
North America held the lion’s share
By region, the market across North America held the largest share in 2019, accounting for more than two-fifths of the market, due to easy availability of cell culture instruments and consumables with presence of the majority of key players and rise in cancer-related research. However, the global cell culture market across Asia-Pacific is estimated to register the highest CAGR of 12.8% during the forecast period, owing to surge in awareness related to use of cell culture techniques, development of the R&D sector, and surge in research funding.
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The key market players in the industry include Becton, Dickinson and Company, Corning Incorporated, Eppendorf, Sartorius AG, Merck KGaA, Lonza Group AG, PromoCell GmbH, Danaher Corporation, Thermo Fisher Scientific, HiMedia Laboratories.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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