Global Cell Culture Market Opportunities And Strategies
The global cell culture market is expected to decline from $15.78 billion in 2019 to $15.61 billion in 2020 at a compound annual growth rate (CAGR) of -1.04%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $23.55 billion in 2023 at a CAGR of 14.69%. The rise in the demand for cell therapy is expected to drive the cell culture market. However, the lack of skilled professionals is expected to hinder the cell culture market’s growth.
The cell culture market consists of sales of cell culture equipment and consumables for drug development and related services. Cell culture is the process by which cells are grown in suitable sterile environments under controlled conditions. Cell culture is one of the major tools used in molecular & cellular biology, manufacturing of medicines, and large-scale manufacture of biological compounds.
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The global cell culture market is further segmented based on type and geography.
By Type: Primary Cell Culture, Secondary Cell Culture, Cell Line
By Media: Natural, Artificial
By Applications: Stem Cell Technologies, Cancer Research, Biopharmaceutical, Tissue Engineering & Regenerative Medicine, Others
By Geography: The global cell culture market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American cell culture market accounts for the largest share in the global cell culture market.
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Trends In The Cell Culture Market
The development of products for 3D cell culture by the companies operating in the cell culture market is gaining significant popularity. A 3D cell culture is an artificially created environment in which biological cells are permitted to grow or interact with their surroundings in all three dimensions, similar to how they would in a living organism.
Cell Culture Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides cell culture market overviews, analyzes and forecasts cell culture market size and growth for the global cell culture market, cell culture market share, cell culture market players, cell culture market size, cell culture market segments and geographies, cell culture market trends, cell culture market drivers and cell culture market restraints, cell culture market’s leading competitors’ revenues, profiles and market shares. The cell culture market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.