PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1458402
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1458402
The cell culture market is projected to reach USD 57.9 billion by 2029 from an estimated USD 30.9 billion in 2024, at a CAGR of 13.4% during the forecast period of 2024 to 2029. The growth of this market can be attributed to growing investments and fundings for research in the field of cell biology. The rising incidence of chronic diseases such as cancer is boosting the demand for advanced therapies such as tissue engineering, and regenerative medicine. This trend is expected to drive the growth of the cell culture market in the coming years.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) Billion |
Segments | Product, Application, and End User |
Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
"The biopharmaceutical production segment accounted for the largest share of by application segment in 2023."
In 2023, the biopharmaceutical production segment accounted for the largest share of by application segment in the global cell culture market. Biopharmaceutical production segment is further categorized into vaccine production, monoclonal antibody production, and other therapeutic protein production. The growing prevalence of infectious diseases is boosting the demand for biopharmaceuticals such as vaccines, monoclonal antibodies, and therapeutic proteins, resulting to promote the growth of biopharmaceutical production in cell culture market.
"The US will continue to dominate the cell culture market during the forecast period of 2024-2029."
In 2023, the cell culture market in North America was led by the US. As the world's largest biopharmaceutical market with a strong emphasis on research and investment in biopharmaceuticals, the US holds a prominent position. Moreover, the country hosts renowned academic research institutions such as Harvard University, Stanford University, and the Massachusetts Institute of Technology (MIT), renowned for their groundbreaking work in life sciences, including drug discovery and biotechnology, which extensively employ cell culture techniques, thereby fuelling market expansion. Furthermore, increasing investments in tissue engineering and regenerative medicine R&D are contributing to the growth of the cell culture market.
This research report categorizes the cell culture market by product ((equipment (bioreactors, storage equipment, and other equipment), consumables (sera, media, reagents, vessels, and accessories)), by application (biopharmaceutical production (vaccine production, monoclonal antibody production, and other therapeutic protein production), diagnostics, tissue engineering & regenerative medicine (cell & gene therapy and other tissue engineering & regenerative medicine applications), drug screening & development, and other applications), by end user (pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, research & academic institutes, and other end users), and by region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the cell culture market. A detailed analysis of the key industry players has been done to provide insights into their business overview, products, solutions, key strategies, collaborations, partnerships, and agreements. New launches, collaborations and acquisitions, and recent developments associated with the cell culture market.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall cell culture market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.