The Cell Culture Market is expected to reach USD 26.28 Billion by 2023 from USD 15.32 Billion in 2018, at a CAGR of 11.4%.
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Growth in this market is driven by the growing number of regulatory approvals for cell culture-based vaccines, increasing demand for monoclonal antibodies (mAbs), funding for cell-based research, growing preference for single-use technologies, and the launch of advanced cell culture products.
Based on cell culture product, consumables segment is expected to dominate the market in 2017
Based on product, the cell culture market is segmented into equipment and consumables. The consumables segment accounted for the largest market share in 2017 and it is expected to register the highest CAGR during the forecast period.
The repeated purchase of consumables for various cell culture applications is the major factor supporting the growth of the consumables segment during the forecast period.
The serum free media segment is expected to dominate the market in 2017
The cell culture media are segmented into classical media and salts, serum-free media, specialty media, and stem cell media. In 2017, serum-free media segment accounted for the largest share of the cell culture market as it overcomes all issues related to the use of animal-derived components for biopharmaceutical/biomedical production.
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Based on application, the biopharmaceuticals/therapeutic segment is expected to register the highest CAGR during the forecast period
Based on application, the cell culture market is segmented into biopharmaceutical/therapeutic, stem cell technologies, drug screening and development, tissue engineering and regenerative medicine, cancer research, and other applications. The biopharmaceuticals/therapeutic applications segment is expected to register the highest CAGR during the forecast period.
The high growth of this segment is attributed to the commercial expansion of major pharmaceutical companies, growing regulatory approvals for the production of cell culture-based vaccines, and an increase in the demand for monoclonal antibodies (mAbs).
North America to dominate the cell culture market
In 2017, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to the growing regulatory approvals for cell culture-based vaccines, rising incidence of diseases such as cancer, strong government support, and conferences and symposiums that create awareness on the latest trends in cell culture technology are the key factors driving the growth of the cell culture market in North America.
The Cell Culture Market is fragmented with the presence of several large as well as emerging players. In 2017, Thermo Fisher Scientific (US), Merck KGaA (Germany), and GE Healthcare (US) were the leading players in the cell culture market.
Other major players include Lonza (Switzerland), Becton, Dickinson and Company (US), Corning Incorporated (US), Eppendorf (Germany), HiMedia Laboratories (India), Sartorius AG (Germany), PromoCell GmbH (Germany), Pall Corporation [acquired by Danaher (US)], Irvine Scientific (US), InvivoGen (US), and CellGenix GmbH (Germany).
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