Cell Culture Market worth $33.1 billion by 2025 - Exclusive Report by MarketsandMarketsÂ™

(IT-NEWSWIRE.COM, September 18, 2021 ) According to the new market research report, published by MarketsandMarkets™, the Cell Culture Market is projected to reach USD 33.1 billion by 2025 from USD 19.0 billion in 2020, at a CAGR of 11.8% during the forecast period.

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Growth in this market is driven by the growing awareness about the benefits of cell culture-based vaccines, increasing demand for monoclonal antibodies, rising funding for cell-based research, growing preference for single-use technologies, and increasing focus on personalized medicine. The growing demand for 3D cell culture, the growing risks of pandemics and communicable diseases, and emerging economies are expected to offer significant growth opportunities for the players operating in the global cell culture market.

The COVID-19 outbreak has boosted research activity due to efforts to understand the dynamics of the infection. We estimate that the cell culture product's adoption for the development of vaccines will grow at a stable pace in the next 1-2 years. Due to the increase in research activity, both the availability of funding for research and the demand for high-throughput technologies are expected to grow.

The consumables segment is expected to grow at the highest CAGR during the forecast period

By product, the cell culture market is segmented into equipment and consumables. The consumables segment accounted for the largest market share in 2019 and is expected to register the highest CAGR during the forecast period. The dominant share and high growth of the consumables segment can be attributed to the repeated purchase of consumables and increased funding for cell-based research.

The biopharmaceutical production application segment is expected to grow at the highest CAGR during the forecast period

Based on application, the cell culture market is categorized into biopharmaceutical production, stem cell research, diagnostics, drug screening & development, tissue engineering and regenerative medicine, and other applications. The biopharmaceutical production application segment is expected to register the highest CAGR during the forecast period. This segment's high growth 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).

The pharmaceutical & biotechnology end-user segment is expected to account for the largest share of the market

The cell culture market, by end-user, is segmented into pharmaceutical & biotechnology companies, hospitals & diagnostic centers, academic & research institutes, and cell banks. The pharmaceutical & biotechnology companies segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the increased funding and government support for cell-based research,the increasing number of regulatory approvals for cell culture-based vaccines, and the presence of a large number of pharmaceutical players in this market are driving the market for this segment.

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Asia Pacific is expected to account for the highest CAGR for players operating in the Cell culture market

The Asia Pacific market is expected to grow at the highest CAGR from 2020 to 2025. The favorable regulatory guidelines, the growing presence of market players in emerging economies, favorable government investments in the life sciences sector, and growing biotechnology research in APAC countries are expected to drive the growth of this regional market during the forecast period. Furthermore, the increasing focus on Asia Pacific countries due to their low-cost manufacturing advantage is expected to provide growth opportunities for manufacturers.

The prominent players in this market are Thermo Fisher Scientific (US), Merck KGaA (Germany), GE Healthcare (US),Danaher Corporation (US), Lonza Group AG (Switzerland), Becton, Dickinson and Company (US), Corning Incorporated (US), Eppendorf (Germany), HiMedia Laboratories (India), Sartorius AG (Germany), PromoCell GmbH (Germany), FUJIFILM Irvine Scientific (US), InvivoGen (US), CellGenix GmbH (Germany), SeraCare Life Sciences Incorporation (US), MiltenyiBiotec (Germany), STEMCELL Technologies, Inc. (Canada), Solida Biotech GmBH (Germany), Caisson Labs Inc. (US), Cellexus Ltd, (UK), PIERRE GUÉRIN (France), Applikon Biotechnology BV (Netherlands), WISENT Inc. (Canada), Koh Jin-Bio Co., Ltd. (Japan), PAN-Biotech GmbH (Germany), and Infors AG (Switzerland).

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Cell Culture Market worth $33.1 billion by 2025 - Exclusive Report by MarketsandMarketsÂ™