Meticulous Research® –leading global market research company published a research report titled “Cell Culture Market by Product [Consumables (Media, Reagents, Sera, FBS, Antibiotics, growth factor, buffer), Equipment (Bioreactor, Centrifuge)], Application (Biopharmaceutical, Cancer, Stem Cell), and End User (Pharma, Research)- Global Forecast to 2024”.
According to this latest publication from Meticulous Research®, the global cell culture market is expected to grow at a CAGR of 9.4% from 2018 to 2024 to reach $11.2 billion by 2024, driven by factors such as increase in life science research, growing prevalence of chronic diseases, and rising demand for the biopharmaceuticals.
The global cell culture market study presents historical market data in terms of value (2016 and 2017), estimated current data (2018), and forecasts for 2024– by product (consumables and equipment), application (bioproduction, diagnostics, cancer research, drug screening and development, and stem cell research), and end user (pharmaceutical and biotechnology companies, academic and research institutes, and diagnostic laboratories). The study also evaluates industry competitors and analyzes the market at regional and country level.
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The consumables contributed the largest share due to their frequent usage in large quantity for research and commercial bioproduction applications, academic research, and clinical diagnostic applications.
Based on application, bioproduction segment commanded the largest market share. This segment is also expected to witness the fastest growth attributed to growing research activities related to biopharmaceuticals and rising demand for biopharmaceuticals for treatment of various critical illnesses.
Among end users, pharmaceutical and biotechnology companies held a significant market share in 2017. High consumption of cell culture products in commercial and research bioproduction; and relatively greater purchasing power compared to other end user segments support the largest share in this market.
This research report analyzes major geographies and provides comprehensive analysis of North America (the U.S. and Canada), Europe (Germany, Italy, France, the U.K., Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America captured a significant share in 2017, while Asia Pacific is expected to register the fastest CAGR during the forecast period. The high growth in the forecast period will be due to developing economies, expansion of key players in the region, growing geriatric population with chronic diseases, and favorable regulatory reforms for adoption of cell culture products.
Key players operating in the global cell culture market include Fujifilm Corporation (Japan), HiMedia Laboratories (India), Merck Group (Germany), GE Healthcare (U.S.), Agilent Technologies, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), PromoCell GmbH (Germany), Lonza (Switzerland), Corning Inc. (U.S.), Becton Dickinson (U.S.), CellGenix GmbH (Germany), InvivoGen (U.S.), Sartorius (Germany), and Eppendorf (Germany) among others. Key players have focused on new product launches, agreements, acquisitions, expansions, and collaborations. These strategies have helped them to augment their geographic footprint, increase customer base, and bring diversity in their product basket to cater the unmet needs of the end users in the cell culture market.
Key questions answered in the report-
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