LONDON, Nov. 14, 2018 (GLOBE NEWSWIRE) -- According to the latest publication from Meticulous Research®, the global cell culture market will grow at a CAGR of 9.4% from 2018 to reach $11.2 billion by 2024, fueled by increasing prevalence of chronic and infectious diseases, increase in life science research, and rising popularity of biopharmaceutical products.
Key players operating in this market are focusing on catering the unmet needs and enhance the efficiency of cell culture experiments in the laboratories by offering new and advanced products. For instance, in April 2018, Thermo Fisher launched a new Cell Locker system for its Heracell VIOS 160i and Thermo Scientific Forma Steri-Cycle i160 CO2 incubators. In order to grow healthy and viable cells for various regenerative therapeutic applications, cell culture labs are often forced to use multiple incubators so as to reduce the risk of cross contamination. With the advent of advanced Cell Locker technology, the need for multiple incubators for small cell populations is eliminated as the incubators launched by Thermo have a six-segmented inner door configuration. This has helped in saving customer’s capital investment and lab space and at the same time enabled preserving the integrity of sensitive cultures.
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The prevalence of cancer, autoimmune, cardiovascular, and infectious diseases is growing across the globe. Biopharmaceuticals have emerged as an important therapeutic class for the treatment of such diseases. They have enabled the treatment of patients who do not respond/poorly respond to the traditional synthetic drugs. Owing to these reasons, the biopharmaceutical production is expected to witness rapid surge in the demand in the coming years. As the demand for biopharmaceuticals rises, the cell culture products used in their production are likely to witness high growth.
The pharmaceutical and biotechnology companies will continue to be the leading adopters of cell culture equipment and consumables due to high consumption of cell culture products in commercial and research bioproduction; and relatively greater purchasing power compared to the other end users.
Asia-Pacific region is expected to witness the fastest growth due to continuous investment by the pharmaceutical giants in this region, accelerated economic growth of many countries in the region, and favorable regulatory reforms.
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