PUBLISHER: Grand View Research | PRODUCT CODE: 1571413
PUBLISHER: Grand View Research | PRODUCT CODE: 1571413
The global cell culture vessels market is anticipated to reach USD 9.70 billion by 2030 and is anticipated to expand at a CAGR of 14.80% from 2024-2030 during the forecast period, according to a new report by Grand View Research, Inc. The growing demand for cell-based research and therapies, including stem cell research, cancer research, and regenerative medicine is anticipated to increase the demand for cell culture vessels over the forecast period. Additionally, the growing investment in life sciences research, the expansion of biopharmaceutical manufacturing, and the advancements in cell culture technology are further propelling the market.
The COVID-19 pandemic has positively impacted the market by accelerating research and development activities related to vaccines and antiviral therapies. With the urgent need to develop and produce vaccines and treatments, pharmaceutical and biotechnology companies increased their investment in cell-based research, which drove the demand for cell culture vessels. Thus, higher adoption rates of cell culture vessels for various applications in virology, immunology, and drug discovery, were projected to boost the market growth during the pandemic.
Moreover, the increasing funding for cell-based research is significantly driving the growth of the market. Governments, private organizations, and pharmaceutical companies are allocating more resources to support research in areas such as cancer, regenerative medicine, and vaccine development, which heavily on cell culture techniques. For instance, in August 2024, JDRF suggested that the Canadian government allocate USD 15 million over four years to research cures for type 1 diabetes, specifically focusing on cell therapy. JDRF Canada is anticipated to raise an additional USD 15 million in matching funds, bringing the total research investment to USD 30 million over the four years.
Similarly, in May 2023, StemCures announced an invest USD 54 million to build India's largest stem cell lab in Telangana. This surge in funding is enabling laboratories and research institutions to invest in quality cell culture vessels to enhance their research capabilities and achieve more accurate and reliable results. Thus, as cell-based research continues to expand, the demand for cell culture vessels is expected to grow, supporting the development of new therapies and innovative medical solutions. This is anticipated to propel the growth of the market over the forecast period.
However, the high cost of cell biology research is anticipated to hamper the growth of the market. Research in cell biology often requires expensive equipment, specialized materials, and skilled personnel, which can drive up overall costs for laboratories and research institutions.