May 23, 2024
Cell Culture Consumables and Equipment Market Size More Than Doubles to Cross USD 27 Billion With the CAGR of 10.3% by 2029 | BlueWeave Consulting
Cell Culture Consumables and Equipment Market Size More Than Doubles to Cross USD 27 Billion With the CAGR of 10.3% by 2029 | BlueWeave ConsultingNorth America dominated the global cell culture consumables and equipment market in 2022. The presence...

North America dominated the global cell culture consumables and equipment market in 2022. The presence of a large number of biotechnology and pharmaceutical companies, academic research institutes, and contract research organizations in North America drives the demand for cell culture consumables and equipment. These organizations heavily rely on cell culture technology for various applications, such as drug discovery, bioprocessing, and biomanufacturing. North America’s well-established healthcare infrastructure, favorable government initiatives, and high healthcare expenditure create an environment conducive to research and development in the life sciences industry.

/EIN News/ — New Delhi, April 29, 2023 (GLOBE NEWSWIRE) — Global cell culture consumables and equipment market is flourishing because of increasing adoption of technological advancements in cell culture techniques, a growing focus on personalized medicine, high demand for biopharmaceuticals, and rising prevalence of chronic diseases.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated global cell culture consumables and equipment market size at USD 11.2 billion in 2022. During the forecast period between 2023 and 2029, BlueWeave expects global cell culture consumables and equipment market size to grow at a CAGR of 10.3% reaching a value of USD 27.04 billion by 2029. Major growth drivers for global cell culture consumables and equipment market include an increasing demand for biologics and cell-based therapies, growing advancements in technology, and rising chronic diseases. The production, maintenance, and analysis of cells used in biologics and cell-based therapies rely heavily on cell culture techniques, thus driving the market’s expansion. Also, advancements in cell culture technology, such as 3D cell culture and lab-on-a-chip systems, are allowing for more sophisticated cell growth and replication of natural cellular environments. Government funding and support for cell culture technology research, as well as efforts by companies to reduce costs, are playing a significant role in driving the market’s expansion. Overall, the cell culture consumables and equipment market are expected to continue growing as the demand for cell-based therapies and biologics increases and technology continues to evolve.

Global Cell Culture Consumables and Equipment Market – Overview
The global cell culture consumables and equipment market refers to the industry involved in the production, distribution, and sale of consumables and equipment used for the in vitro cultivation and growth of cells. The market includes a range of products, such as media, reagents, sera, flasks, bioreactors, and other specialized equipment required for cell culture. Cell culture is a vital tool used in biological research, drug discovery, and biopharmaceutical production, and the market for cell culture consumables and equipment has been expanding as these industries continue to grow. The market is driven by factors, such as increasing demand for biologics and cell-based therapies, advancements in technology, and the rising prevalence of chronic diseases.

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Impact of COVID-19 on Global Cell Culture Consumables and Equipment Market

COVID-19 had a dual impact on the global cell culture consumables and equipment market. On the one hand, the demand for certain products, such as vaccines, monoclonal antibodies, and diagnostic kits, has increased, driving the market growth. These products rely heavily on cell culture technology, and the pandemic resulted in the surging demand for them. However, on the other hand, the pandemic disrupted supply chains and caused delays in product development, leading to shortages of certain cell culture consumables and equipment. Additionally, the closure of research facilities and universities during lockdowns slowed down research projects and clinical trials, affecting the demand for cell culture consumables and equipment. The pandemic also led to a decrease in funding for research and development, which could have a long-term impact on the market.

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Global Cell Culture Consumables and Equipment Market – By End User

Based on end user, global cell culture consumables and equipment market is segmented into Industrial, Biotechnology, and Agriculture. The biotechnology segment held the highest market share. The biotechnology industry heavily relies on cell culture technology for various applications, such as bioprocessing, drug discovery, and biomanufacturing. This reliance on cell culture technology creates a significant demand for cell culture consumables and equipment, such as culture media, sera, reagents, and bioreactors. As a result, the biotechnology industry is one of the major end-users of cell culture consumables and equipment, which can contribute to its market share in the industry. Additionally, the biotechnology industry is expected to continue to grow, driving the demand for cell culture consumables and equipment during the forecast period.

Competitive Landscape

Major players operating in global cell culture consumables and equipment market include Thermo Fisher Scientific Inc., Merck KGaA, GE Healthcare Life Sciences, Danaher Corporation, Lonza Group AG, Sartorius AG, Eppendorf AG, Corning Incorporated, Becton, Dickinson and Company, Promocell GmbH, CellGenix GmbH, HiMedia Laboratories Pvt. Ltd., Miltenyi Biotec GmbH, Takara Bio Inc., and Irvine Scientific Sales Company, Inc. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

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The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Global Cell Culture Consumables and Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Global Cell Culture Consumables and Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

Recent Developments

  • In July 2021 – Sartorius, a laboratory equipment manufacturer based in Germany, acquired Xell AG for an undisclosed sum, to broaden Sartorius’ product range in terms of media and other cell culture products.

Scope of the Report

Attributes Details
Years Considered Historical Data – 2019–2022
Base Year – 2022
Estimated Year – 2023
Forecast Period – 2023–2029
Facts Covered Revenue in USD Billion
Market Coverage North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)
Product/ Service Segmentation Product, Application, End User, Region
Key Players Thermo Fisher Scientific Inc., Merck KGaA, GE Healthcare Life Sciences, Danaher Corporation, Lonza Group AG, Sartorius AG, Eppendorf AG, Corning Incorporated, Becton, Dickinson and Company, Promocell GmbH, CellGenix GmbH, HiMedia Laboratories Pvt. Ltd., Miltenyi Biotec GmbH, Takara Bio Inc., Irvine Scientific Sales Company, Inc.

By Product

By Application

  • Vaccination
  • Toxicity testing
  • Cancer Research
  • Drug Screening & Development
  • Recombinant Products
  • Stem Cell Technology
  • Regenerative Medicine

By End User

  • Industrial
  • Biotechnology
  • Agriculture

By Region

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Latin America
  • Middle East and Africa (MEA)

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Article originally published on www.einpresswire.com as Cell Culture Consumables and Equipment Market Size More Than Doubles to Cross USD 27 Billion With the CAGR of 10.3% by 2029 | BlueWeave Consulting

originally published at HUMAN RIGHTS - USA DAILY NEWS 24