Cell Culture Market to Surpass US$ 22.5 Billion by 2024
The global cell culture market was valued at US$ 12,251.3 million in 2015 and is projected to expand at a CAGR of 7.1% during the forecast period (2016–2024), as highlighted in a new report avaibale at Market Reports Center. The last century has witnessed a steep rise in number of deadly viruses that cause various diseases. Rise in number of virus infections is expected to propel the cell culture market in the near future. According to W.H.O, in 2015, prevalence of human immunodeficiency virus (HIV) infection in the U.S. is estimated to be 0.32%, which inadvertently fuels growth of the cell culture market.
Cell culture is an important tool used in the field of molecular biology that offers excellent model systems for studying and analyzing normal physiology and biochemistry of cells. Furthermore, cell culture technique is used in drug screening and development and manufacturing of various biological compounds such as vaccines and therapeutic proteins. Rise in demand for animal and human vaccines is projected to support the cell culture market over the forecast period. High-income countries are characterized by high demand for vaccines in terms of value as compared to low-income countries, as the healthcare standards and awareness about the vaccinations is more in the former. According to WHO, in 2015, high-income countries contributed around 80% of global vaccine sales in terms of value, while accounting for under 20% sales volume. Conversely, around 20% of the global vaccines sales is from the low and middle-income countries contributing to the 80% of the volume of the total vaccines sold. Certain non-profit organizations such as UNICEF and PAHO have high power for low-income countries and middle-income countries. According to WHO, in 2011, the estimated purchase by such groups was around US$ 1.4 billion, which accounted for 7% of the total sales globally.
Product from cell culture are to be utilized as a biomarker for serious conditions such as cancer and also for clinical and diagnostic purpose in various other disease. Centrifugation technique is used for isolation of exosome, which is present in almost every fluid in humans. Companies are focusing on development of new methods for betterment of future healthcare. The implication of exosomes may be in various disorders such as cardiovascular disorder, Alzheimer’s, Parkinson’s and HIV. According to the latest updates in 2017 by International Labmate Limited, the Beckman Coulter’s life sciences division is involved in exosomes isolation process, which concluded that exosomes work under cell-to-cell communication process that is critical for homeostasis. They are further being studied and analyzed for their therapeutic efficiencies under nano delivery device to affected cells. Although the cell culture field consists of various products, their properties can be utilized to clinically treat and diagnose various abnormalities in humans and animals. Companies are inclined towards providing specific products to the customers. For instance, Becton Dickinson (BD) offers customized products and services for characterization of cells and defined environment for cell culture to the customers involved in drug discovery, and cell biology. BD’s custom products and services offers with dependable, reproducible tools. Such tools are able to reduce risks related to technology and finances, which in turn is expected to improve the research quality and operational benefits.
Check details of report at: https://marketreportscenter.com/reports/511210/global-cell-culture-market-trends-analysis-and-forecast-till-2024
Key takeaways of the market:
- The global cell culture market is expected to expand at a CAGR of 7.1% during the forecast period (2016–2024). The increase in number of cancer patients globally is expected to favor the market for cell culture in the near future. According to, Surveillance Research Program, in NCI’s Division of Cancer Control and Population Sciences, based on data available between 2009 and 2013, number of new cases of cancer of any site was 448.7 per 100,000 per year.
- The instrument product type segment in the global cell culture market was estimated to be the largest in 2015 and is expected to dominate the market throughout the forecast period in terms of value. Rise in number adoption for vaccination worldwide in lower and middle-income countries in terms of volume. According to W.H.O, in 2016, around 19.4 million infants are still deprived of necessary vaccinations.
- The cancer research application segment is expected to expand at a CAGR of 8.0% during the forecast period. This is expected to support the market on the backdrop of increase in global biopharmaceutical market due to the cost-effectiveness and high efficacy of the products.
- The global cell culture market is characterized by rise in focus on biopharmaceutical and other biological products. For instance, according to McKinsey & Company, in 2015, biopharmaceuticals contributes to around 20%, which is around US$163 billion of the total pharma market. This is expected to increase and to support the cell culture market.
- Some of the major players are Becton, Dickinson and Company, EMD Millipore, Sartorius AG, Merck KGAA, Biospherix, Sigma-Aldrich Corporation, Biovest International Inc. Cell Culture Company, LLC.