Market Size of Global Cell Culture Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 11.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cell Culture Market Analysis
The cell culture market is expected to witness a CAGR of 11.0% over the forecast period (2022-2027).
With the onset of COVID-19, many biotech and pharmaceutical firms, government organizations in various countries, and research institutes started to focus on the development of effective vaccines and new therapeutics to overcome the situation. Cell culture may serve as a potential platform for the development of novel vaccines for the treatment of COVID-19. Additionally, initiatives taken by the market players in such directions also led to a significant impact on the market's growth. For instance, in January 2021, Captivate Bio launched its portfolio of cell culture tools to assist in the fight against COVID-19 and other emerging diseases in the United States. Thus, COVID-19 had a pronounced impact on the growth of the market.
The major factors such as the growing demand for personalized medicine coupled with the rise in the demand for vaccines, biopharmaceuticals, and artificial organs coupled with the advancement in technology and the launch of products and consumables are driving the growth of the market over the forecast period.
According to GLOBOCAN Statistics, there were an estimated 19.3 million new cases of cancer around the world in the year 2020, and it is projected to reach 30.2 million by 2040. Such an increasing burden of cancer creates the need for precision medicine, so the demand for cell culture is expected to increase over the coming years as cell culture plays a vital role in the development of personalized medicine. Additionally, increasing research and development in pharmaceuticals and biopharmaceuticals also contributes largely to the growth of the market. For instance, according to the European Federation of Pharmaceutical Industries and Associations, 2022 report, the pharmaceutical industry in Europe incurred expenses of EUR 39,656 million for its research and development, and for 2022, this expense is expected to be EUR 41,500 million. Such an increasing focus on research and development creates the need for cell cultures for testing the effectiveness of the drug and thus drives the growth of the market.
The launch of products is also expected to drive the growth of the market. For instance, in March 2021, Thermo Fisher Scientific launched its new Gibco Human Plasma-like Medium (HPLM). It is one of the first types of cell culture medium that mimics the metabolic profile of human plasma and is designed to provide researchers with a realistic view of cell growth within the human body.
Additionally, the launch of technologically advanced and innovative products also propels the growth of the market. For instance, in February 2022, Nucleus Biologics launched Krakatoa. It is an innovative, one of the first to market media makers that helps researchers to manufacture cell culture media at the point of use.
Thus, owing to the abovementioned factors, the cell culture market is expected to show considerable growth over the forecast period. However, the high cost associated with cell-based research and the lack of infrastructure for cell-based research in emerging economies may impede the growth of the market.
