According to a new report published by Allied Market Research, titled, โCell Culture Market by Product, Application, and End User: Opportunity Analysis and Industry Forecast, 2020โ2027,” the global cell culture market accounted for $16,107.7 million in 2019, and is expected to reach $36,926.80 million by 2027, registering a CAGR of 10.9% from 2020 to 2027.
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The key players profiled in this report include, Becton, Dickinson and Company, Corning Incorporated, Eppendorf, Sartorius AG, Merck KGaA, Lonza Group AG, PromoCell GmbH, Danaher Corporation, Thermo Fisher Scientific, and HiMedia Laboratories.
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- By product, the consumables segment occupied 68.5% share of the global cell culture market in 2019
- By application, the cancer research segment is anticipated to grow with the highest CAGR throughout the forecast period.
- By end user, the pharmaceutical & biotechnology companies segment accounted for 61.8% share of the market in 2019.
- By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.
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Due to COVID-19 pandemic there is rise in demand of cell culture product. Rise in adoption of cell culture techniques for the development of vaccines and biopharmaceutical. In addition, increase in the cases of COVID-19 has raised the need of vaccines which resulted in many research and development leading to vaccines are in clinical trial.
Therefore, there is a requirement of cell line and different cell culture techniques used in COVID-19. Further, Researchers are trying to understand the disease at a molecular level to develop therapeutic interventions. However, Primary cells are excellent models for studying respiratory diseases. Primary Cell culture offers the opportunity to understand lung disease mechanisms at a cellular level and to specifically target pathogenic processes using therapeutic compounds during COVID-19 pandemic. Therefore, COVID-19 has expanded the demand of cell culture market in near future.
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In 2019, North America accounted for the major share of cell culture market size and is expected to continue this trend owing to surge in prevalence of cancer and rise in cancer related research. Furthermore, easy availability of cell culture instruments and consumables due to presence of majority of key players boost the growth of the market in the region. Moreover, other factors such as surge in health expenditure also boost the growth of the cell culture market in North America.
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