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(Medical-NewsWire.com, August 18, 2016 ) The report "Cell Culture Market by Equipment (Bioreactor, Culture Vessels (Multiwell Plates, Petri Dish)), Consumables (FBS, ABS, Media, Reagents), Application (Therapeutics, Stem Cell), End Users (Pharmaceutical and Biotechnology, Research) - Forecast to 2020".
Cell culture, as we know, is the process of removing cells from the parented tissues and then grown under controlled conditions, usually in an artificial but favorable environment. It has become one of the major techniques used in life sciences these days for studying the behavior and development of the cell. Moreover, increased funding for cell-based research and advancements in technology has led to more developments in this sector, thus fostering the growth of the overall market for cell culture, globally.
What the Market Looks Like?
The value of the worldwide cell culture market which was estimated to be USD 11,310.9 Million in 2015 is expected to reach USD 18,630.7 Million by the end of 2020, growing at a CAGR of 10.5% during the forecast period 2015-2020. Among regions, North America held the largest market share in 2015, followed by Europe. However, the market in Asia-Pacific is expected to grow at the highest CAGR between 2015 and 2020, owing to the favorable regulations and guidelines, increased government support for cell culture-based vaccine production, lower manufacturing cost, and increased focus and interest of the market players in the emerging Asian economies.
Based on products, the consumable segment took up the largest market share in 2015, and is also expected to grow with the highest CAGR over the forecast period, thanks to the repeated purchase of consumables as compared to instruments. Among applications, the biopharmaceutical/therapeutics segment is expected to advance with the highest CAGR, mainly due to the growing benefits of cell culture-based vaccines and increased regulatory approvals. Among end-users, the market for pharmaceutical and biotechnology companies is slated to grow at the highest CAGR over the projected period.
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What Drives the Market?
The global market for cell culture is growing at a significant rate, mainly due to the following reasons:
· Rising cases of chronic diseases
· Growth in the number of regulatory approvals for cell culture-based vaccines
· Increased funding for cell-based research
· Technological advancements in cell culture products
· Growing preference for single-use technologies
In addition, growing popularity and use of 3D cell culture and increased risk of pandemics and communicable diseases is likely to further push the global market towards growth. The growing market in emerging economies is also slated to offer ample growth opportunities over the coming years. However, high costs of cell biology research and lack of proper infrastructure for cell-based research in developing nations are factors that may hinder the market growth. Moreover, survival of the new entrants in this market is a key challenge faced by the players in this market.
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