Large paragraph: Cell culture is the process by which cells are grown under controlled conditions outside of their natural environment. Cell culture products such as media, reagents, equipment and services are used in various applications including stem cell therapy, vaccine production, drug testing and cancer research. The growing need for effective cell-based vaccines against chronic diseases is driving significant R&D investments in cell culture techniques. The global Cell Culture Market is estimated to be valued at US$ 19,198.0 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: Growing R&D investments by biotechnology and pharmaceutical companies in development of cell-based vaccines is a major trend bolstering the cell culture market growth. With rising prevalence of chronic diseases, focus on development of cell culture-based vaccines has increased significantly in recent years. For example, cell-derived influenza and COVID-19 vaccines developed by manufacturers are resulting in huge R&D investments in cell culture techniques to commercialize the production of these vaccines. This is positively impacting the demand for cell culture products.
SWOT Analysis
Strength: Corning’s sterile cell culture technologies offer highly controlled and specialized cell culture environments to enable more consistent and scalable results for cell-based assays and processes. The cell culture market has seen significant growth in the past few years driven by increased R&D in biopharmaceuticals.
Weakness: High initial investment requirement for setting up cell culture facilities is a major restraint for small and medium enterprises. Maintaining stringent sterility and preventing contamination is a challenge in cell culture production.
Opportunity: Growing demand for vaccines and monoclonal antibodies due to COVID-19 pandemic has opened new opportunities for cell culture market players. Adoption of single-use technologies helps reduce costs and improves process flexibility.
Threats: Stringent regulatory guidelines for cell-based process development may delay approvals and increase compliance costs. Intense competition amongst existing market players can lead to pricing pressures.
Key Takeaways:
The global cell culture market is expected to witness high growth over the forecast period of 2023 to 2030, supported by a CAGR of 7.2%. Increasing R&D investments in pharmaceutical and biotechnology sectors and growing demand for monoclonal antibodies and vaccines are significant factors driving the market.
Regional analysis
North America currently dominates the global cell culture market owing to strong government funding for life science research and presence of leading market players in the US. Asia Pacific is anticipated to grow at the fastest pace during the forecast period supported by rising biopharmaceutical manufacturing in China, India and other Asian countries with lower production costs.
Key players
Key players operating in the cell culture market are Corning Incorporated, Merck KGaA, Sartorius AG, BioSpherix, Ltd., Cell Culture Company, LLC, Thermo Fisher Scientific Inc., VWR International LLC, and Lonza. Corning is a major player known for its sterile cell culture technologies. Merck KGaA offers complete solutions for 2D and 3D cell culture. Lonza is a leading contract manufacturer for biopharmaceuticals production from cell culture processes.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
