LONDON, June 8, 2016 /PRNewswire/ -- The cell culture market is projected to reach USD 18,630.7 million by 2020 from USD 11,310.9 million in 2015, at a CAGR of 10.5%. This market is categorized on the basis of products, applications, end users, and regions.
Major factors contributing to the growth of the global cell culture market include the increasing incidence of chronic diseases, growth in number of regulatory approvals for cell culture-based vaccines, growing demand for mAbs, funding for cell-based research, rising adoption of single-use technologies, and technological advancements in cell culture products. However, factors such as high cost of research in cell biology and lack of infrastructure for cell-based research are likely to hinder the growth of this market during the forecast period.
The cell culture market in Asia is expected to witness the highest growth rate from 2015-2020. Emerging economies such as China and India preferred destinations for major pharmaceutical giants as the cost of production is significantly lower compared to developed nations. Moreover, regulatory norms in these countries are less stringent and the cost of labor is less. This in turn reduces the cost of production of biologics. Owing to these benefits, various pharmaceutical giants are actively investing in these markets to develop biopharmaceutical drugs. For instance, in June 2013, Boehringer Ingelheim (Germany) invested €35 million (USD 46.4 million) to establish a cGMP biopharmaceutical manufacturing facility in China.
Apart from the comprehensive regional analysis, product analysis, and market sizing, the report also provides a competitive landscape that covers growth strategies adopted by industry players over the last three years. The company profiles comprise basic views on key players and their product portfolios, developments, and strategies adopted. The above mentioned market research data, current market sizes, and forecast of future trends will help key players and new entrants make informed decisions regarding product offerings, geographical focus, change in strategic approach, R&D investments, and levels of output in order to remain successful.
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The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of top players in the cell culture market. The report analyzes the cell culture market by product, applications, end user, and region
- Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and new product launches in the cell culture market
- Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of the leading players in the cell culture market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for cell culture market across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the cell culture market
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