by The global Cell Culture Market is estimated to be valued at US$ 10.89 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cell culture is the process by which cells are grown under controlled conditions, generally outside of their natural environment. It generally involves the growth of cells in some form of nutrient medium. Cell culture is an important biomedical field used in numerous scientific endeavors such as vaccine development, monoclonal antibody production, tissue engineering and stem cell therapies. Cell culture supports numerous lines of research including cancer research, vaccines, and developing new pharmaceuticals.
Market Key Trends:
Increasing focus on regenerative medicine is expected to drive the growth of the cell culture market during the forecast period. Regenerative medicine is an interdisciplinary field that applies various life sciences to develop methods and materials for the repair, replacement or regeneration of cells, tissues or organs to restore impaired function resulting from any cause. Advances in cell therapy, tissue engineering, and immunoengineering are helping to develop innovative treatment options for cardiac disease, diabetes, neurological disorders and other conditions that may one day be repaired with regenerative therapies. The regenerative medicine field is heavily reliant on advances in cell culture techniques to develop functional tissue constructs and engineered organs for transplantation.
Porter’s Analysis
Threat of new entrants: Low capital requirements and easy access to raw materials has made entry easier in this Cell Culture Market. However, established players enjoy significant brand recognition and economies of scale which makes competition difficult for new entrants.
Bargaining power of buyers: The bargaining power of buyers is medium. Buyers have a wide range of product options available from different suppliers. However, switching costs are low.
Bargaining power of suppliers: The bargaining power of suppliers is medium to high. Key raw materials such as cell culture media components require specialized equipment for production and have few substitute options available, increasing supplier bargaining power.
Threat of new substitutes: Potential substitutes include alternative cell-based research methods and animal models. However, cell culture provides a more accurate model for human biology and advances in technology are increasing its attractiveness relative to substitutes.
Competitive rivalry: Intense due to large number of specialized international players and low product differentiation. Companies compete based on technical expertise, quality, price and customer service.
Key Takeaways
The global cell culture market is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing R&D investments in pharmaceutical and biotechnology industries. North America currently dominates the market owning to presence of major players and growing pharmaceutical industry in the region.
The cell culture market size for 2023 is estimated to reach US$ 10.89 Bn. The increasing efforts towards development of customized 3D cell cultures for simulation of in vivo biology will further drive the demand.
Key players operating in the cell culture market are Corning Incorporated, Merck KGaA, Sartorius AG, BioSpherix, Ltd., Cell Culture Company, LLC, Thermo Fisher Scientific Inc., VWR International LLC, and Lonza. Companies are focusing on facilitating cell-based research through development and commercialization of advanced culture media and reagents.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
