The global cell culture market was valued at US$13,000.0 mn in 2016, and is further expected to register a revenue worth around US$29,000.0 mn by 2025. Such a growth in terms of revenue gained is expected to occur alongside an impressive CAGR of 9.5% clocked during the forecast period ranging from 2017 to 2025.
Rapidly Increasing Demand for Biological Therapeutics Drives Market
Widespread advancements occurring in the biologic therapeutics sector is substantially driving the global cell culture market. This is mainly due to an extensive use of cell culturing techniques required for producing various biosimilar antibodies and other products. An increase in the number of chronic diseases has also triggered substantial growth in the global cell culture market in recent times, mainly due to a surging demand for quality biological therapeutic drugs to treat these diseases. An increasing demand for cost-effective and highly-efficient cell culture products such as bioreactors, reagents, and serums, that employ various cell culture techniques, is also responsible for propelling growth of the global cell culture market. Lastly, extensive technological advancements brought forth in production mediums and associated equipment has made this market pick up its pace substantially from a global perspective.
Stringent Regulation Owing to Ethical Issues Dampens Growth
However, high cost of equipment set-up required for the culturing processes might discourage small-scale players having less capital to invest in the global cell culture market, thereby hindering its growth. Rising concerns about contamination owing to handling of sensitive bacterial and other pathogenic cultures mainly requires companies to invest in costly equipment required to reduce this risk. Increasingly stringent regulation imposes by certain government bodies owing to numerous ethical issues associated with the use of specific cell culture sources is also restraining the market's growth. In spite of these obstacles plaguing the global cell culture market's growth, several players are taking extensive efforts to achieve cost regulation, as well as to improve handling of high-risk materials. These factors are expected to offset the restraints up to a certain extent during forthcoming years.
Most players in the global cell culture market are participating in strategic collaborations in order to expand their geographical reach, says Transparency Market research, on the basis of a recently published report. This market exhibits a highly competitive vendor landscape, owing to new products being launched on a frequent basis. Dickinson and Company, Corning Incorporated, Eppendorf AG, VWR International LLC, PromoCell GmbH, Thermo Fisher Scientific Inc., Becton, Sartorius AG, Merck KGaA, Lonza, and GE Healthcare., are key players operating in the global cell culture market. Owing to the entry of new players on a regular basis in this market, the level of competition is expected to intensify in the forthcoming years. Achieving quality improvements, facilitating product refinements, and carrying out extensive research and innovations are other strategies implemented by most players in the global cell culture market.
Widespread advancements occurring in the biologic therapeutics sector is substantially driving the global cell culture market.
Achieving quality improvements, facilitating product refinements, and carrying out extensive research and innovations are other strategies implemented by most players in the global cell culture market.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
Transparency Market Research State Tower, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free: 866-552-3453 Email:[email protected]