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Large Paragraph: Cell culture is a technique used to grow and maintain living cells under controlled conditions outside of their natural environment. This technique involves growing cells derived from plants or animals in an artificial media under specific conditions. Cells grown through cell culture play a vital role in research, biologics manufacturing, and analysis of cell behavior under various conditions. Some key applications areas of cell culture include vaccine production, stem cell therapies, gene therapy, drug testing and toxicology, cancer research, and development of therapeutic proteins and monoclonal antibodies.
The global cell culture market is estimated to be valued at US$ 19,198.0 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing Biopharmaceutical Industry (refered from heading): One of the major drivers for the growth of the global cell culture market is the rising biopharmaceutical industry. Biopharmaceuticals refer to medicinal products manufactured in or extracted from biological sources using biotechnology tools and techniques. With the advantages offered by cell-based biopharmaceuticals such as high potency and targeted drug delivery, their demand is increasing rapidly. As the biopharmaceutical industry continues to grow at a steady pace, the demand for cell culture from this industry is also expected to increase significantly during the forecast period.
Rising Healthcare Expenditure: Another key factor propelling the market growth includes rising healthcare expenditure across the globe. According to data published by the World Bank, global healthcare spending reached US$ 8.5 trillion in 2019 and is expected to grow further in the coming years. Higher healthcare budgets allow for greater investments in R&D activities involving cell culture, thus augmenting market growth.
Segment Analysis
The cell culture market can be segmented into consumables and equipment. Within consumables, medium is the dominating sub-segment as it constitutes a major cost for any cell-based research and process development. The medium sub-segment accounts for over 35% of the total consumables market due to high volume of medium required to grow and maintain cells.
PEST Analysis
Political: The cell culture market is strongly influenced by government regulations related to stem cell research and bioprocessing. Favorable regulatory guidelines promoting research in regenerative medicines is a major growth driver.
Economic: Rising governmental and private investments in pharmaceutical R&D and life sciences are fueling demand for cell-based tools and technologies. Growth in disposable income in developing nations is also increasing healthcare spending.
Social: Increasing prevalence of chronic diseases and ageing population is creating pressure to develop new drugs and therapies. This is increasing focus on cell-based research for conditions like cancer and cardiac diseases.
Technological: Advances in areas such as microfluidics, 3D cell culture techniques and automated platforms are supporting high-throughput cell-based screening and production processes. This is positively impacting the cell culture equipment and technology segment.
Key Takeaways
The global cell culture market size was valued at US$ 19,198.0 Mn in 2023 and is expected to grow at a CAGR of 7.2% during the forecast period. North America represents the largest regional market driven by presence of major pharmaceutical companies and well-established biotech research ecosystem in the region. Key players operating in the cell culture market are Corning Incorporated, Merck KGaA, Sartorius AG, BioSpherix, Ltd., Cell Culture Company, LLC, Thermo Fisher Scientific Inc., VWR International LLC, and Lonza. These companies collectively account for over 50% of the global market share.
Regional analysis
North America accounts for around 35-40% of the overall cell culture market share primarily due to presence of leading life sciences firms and research organizations in countries like US and Canada. The favorable government funding landscape also fuels cell-based research activities in the region.
Key players
Key players operating in the cell culture market are Corning Incorporated, Merck KGaA, Sartorius AG, BioSpherix, Ltd., Cell Culture Company, LLC, Thermo Fisher Scientific Inc., VWR International LLC, and Lonza. Corning Incorporated is one of the largest suppliers of cell culture technologies globally with leadership position in bioprocess containers segment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
