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The cell culture market is expected to reach USD 29.2 billion by 2024 from USD 16.0 billion in 2019, at a CAGR of 12.7%

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during the forecast period. This market is experiencing significant growth due to the growing awareness about the benefits of cell culture-based vaccines, increasing demand for monoclonal antibodies (mAbs), funding for cell-based research, growing preference for single-use technologies, growing focus on personalized medicine, and the launch of advanced cell culture products.

New York, Jan. 13, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Cell Culture Market by Product, Application, End User - Global Forecast to 2024" -
On the other hand, the high cost of cell biology research and the lack of proper infrastructure for cell-based research activities are the major factors restraining the growth of this market.

Pharmaceutical and biotechnology companies are expected to dominate the market during the forecast period.
Based on end user, the cell culture market is segmented into research institutes, pharmaceutical & biotechnology companies, cell banks, and hospitals & diagnostic laboratories.In 2018, pharmaceutical and biotechnology companies accounted for the largest share of the cell culture market.

The growing use of single-use technologies, increasing number of regulatory approvals for cell culture-based vaccines, and the presence of a large number of pharmaceutical players in this market are some of the factors driving the cell culture market for pharmaceutical and biotechnology companies.

Biopharmaceutical production to witness the highest growth in the cell culture market.

Based on application, the cell culture market is categorized into biopharmaceutical production, stem cell research, diagnostics, drug discovery & development, tissue engineering & regenerative medicine, and other applications.The biopharmaceutical production segment is also expected to grow at 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 increasing demand for monoclonal antibodies (mAbs).

North America to dominate the market during the forecast period.
Geographically, the cell culture market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World.In 2018, North America accounted for the largest share of the cell culture market.

The growing regulatory approvals for cell culture-based vaccines, technological advancements, growth in the biotechnology and pharmaceutical industries, higher investments in cell-based research, 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 primary interviews conducted for this report can be categorized as follows:
• By Company Type - Tier 1: 36%, Tier 2: 45%, and Tier 3: 19%
• By Designation - C-level: 33%, D-level: 40%, and Others: 27%
• By Region - North America: 36%, Europe: 28%, Asia Pacific: 19%, Rest of the World: 17%

List of Companies Profiled in the Report
• Thermo Fisher Scientific (US)
• Merck KGaA (Germany)
• GE Healthcare (US)
• Lonza (Switzerland)
• Becton, Dickinson and Company (US)
• Corning Incorporated (US)
• Eppendorf AG (Germany)
• HiMedia Laboratories (India)
• Sartorius AG (Germany)
• PromoCell GmbH (Germany)
• Danaher Corporation (US)
• FUJIFILM Irvine Scientific (US)
• InvivoGen (US)
• CellGenix GmbH (Germany)
• Miltenyi Biotec (Germany)

Research Coverage:
This report provides a detailed picture of the global cell culture market.It aims at estimating the size and future growth potential of the market across different segments, such as product, application, end user, and region.

The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:
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 pulse of the market and provide them with information on the key market drivers, restraints, and opportunities.
Read the full report:

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