Yahoo Finance Cell Culture Global Market Report 2023
Major players in the cell culture market are Thermo Fisher Scientific Inc., Corning, Inc., Becton, Dickinson and Company, Eppendorf AG, Merck KGAA, Lonza Group AG, Sartorius AG, Promocell GmbH, Danaher and Sartorius.
New York, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cell Culture Global Market Report 2023" - https://www.reportlinker.com/p06241846/?utm_source=GNW
The global cell culture market is expected to grow from $20.28 billion in 2021 to $22.49 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The cell culture market is expected to reach $34.01 billion in 2026 at a CAGR of10.9%.
The cell culture market includes revenues earned by entities by diagnosing infections, testing new drugs, and research.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Cell culture refers to the growth of human, plant, or animal cells in a lab, as well as the growth of microorganisms like bacteria and yeast.Cell cultures can be used for research, medication testing, and infection diagnosis.
The cells may come from multicellular eukaryotes, established cell strains, established cell lines, or any combination of these.
North America was the largest region in the cell culture market in 2022.Middle East is expected to be the fastest growing region in the forecast period.
The regions covered in the cell culture market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cell culture are primary cell culture, secondary cell culture, and cell line.Primary cell cultures are those that develop from tissue explants or specific cells extracted from the source tissue.
The different media include natural and artificial and is used in stem cell technologies, cancer research, biopharmaceutical, tissue engineering & regenerative medicine, and others.
The rise in the demand for cell therapy is expected to drive the cell culture market.In cell therapy, viable cells are injected or implanted into a patient’s body to cure a medicinal disease.
Cell culture is a vital step in any cell-based therapy.According to the Cancer Research Institute (CRI), there are about 1,483 active cell therapies in development in 2020 compared to 1,011 in 2019.
Cell culture is used in the development, manufacture, and commercialization of cell therapies and holds the potential to revolutionize the healthcare industry for the treatment of various diseases. Hence, a surge in the demand for cell therapy aids in the growth of the cell culture market.
The lack of skilled professionals is expected to hinder the cell culture market’s growth.The consequence of having unskilled workers can also be detrimental to the bottom line of a company, as even a small batch error can cost an organization millions of dollars.
The regulatory agency that issues the facility’s license requires an annual report that includes all failed batches, and if the failure rate is more than 5%, the plant may be at risk of losing the ability to sell its drug. Furthermore, in February 2022, The U.S. Bureau of Work Statistics estimates that the pandemic cost the labour force close to 8 million skilled-labor positions. In the sectors in charge of the majority of the nation’s transportation, construction, and mechanical needs, nearly half of the vacancies have been filled, but about 4 million still exist. The lack of talent is expected to adversely impact the growth of the cell and gene therapy industry, thereby restraining the growth of the cell culture market.
The development of products for 3D cell culture by the companies operating in the cell culture market is gaining significant popularity.A 3D cell culture is an artificially created environment in which biological cells are permitted to grow or interact with their surroundings in all three dimensions, similar to how they would in a living organism.
For instance, in July 2020, Rigenerand, an Italian company engaged in the production of innovative cell-based technology products for regenerative medicine and oncology, launched a 3D bioreactor called VITVO handheld bioreactor to offer increased usability, sizing, closed system, and flexibility for 3D cell culture technologies. Similarly, Jellagen, a UK-based marine biotechnology company, launched JellaGel, a jellyfish collagen hydrogel, suitable for 3D cell culture and tissue engineering.
In March 2020, Danaher, a US-based Fortune 500 science and technology company, acquired the biopharma business of General Electric Life Sciences for an amount of $21.4 billion. As a part of Danaher, the company is to be called Cytiva and will be a standalone operating company within Danaher’s Life Sciences segment. GE Biopharma’s offerings included cell culture media, single-use technologies, process chromatography hardware & consumables, development instrumentation and consumables, and service.
The countries covered in the cell culture market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products.
The cell culture market research report is one of a series of new reports that provides cell culture market statistics, including cell culture industry global market size, regional shares, competitors with a cell culture market share, detailed cell culture market segments, market trends and opportunities, and any further data you may need to thrive in the cell culture industry. This cell culture market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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