Cell and Tissue Culture Supplies Market To Reach US$19 Bn By 2030
Market Overview:
Global Cell and Tissue Culture Supplies Market held USD 19 billion in 2020 and is to grow with a CAGR of 11.5% from 2020-2030. Cell culture is the mechanism by which the cells are grown under suitable conditions. Cell tissue culture needs an appropriate cell or tissue that is developed in an appropriate medium under aseptic conditions, along with numerous regulators, to sustain cell production. Globally, the supply demand for cell and tissue culture is undergoing substantial growth as a consequence of growing R&D in cell and tissue biology, rising cell and tissue cultures applications and growing chronic disease prevalence. Increasing demand for biopharmaceuticals and artificial organs and increasing awareness of cell and tissue culture techniques also drive the cell and tissue culture supplies market.
Market Dynamics and Factors:
Growing prevalence of chronic diseases, rising R&D expenditures in cell-based science as well as tissue engineering, and that demand and vaccine and serum requirements are the factors that drive the growth of the global cell and tissue culture supplies industry. In addition, increasing demand and adoption for artificial organs and rising cell and tissue culture applications are also expected to help global business growth and expansion. On the other hand, the most significant challenges for the market are the intricacy of cell culture methods and the ethical issue of over-exploitation of animals. Additionally, growing popularity in increasing research by third parties is expected to offer lucrative opportunities for the growth of cell and tissue culture supplies market. Factors such as strict licensing and accreditation procedures, and complexity in cell culture techniques, however, restrict the global cell and tissue culture supply market. Additionally, factors such as high cost along with high affordability and ethical concerns is expected to restrain the growth of the global cell and tissue culture supplies market.
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Market Segmentation:
Based on the type, the cell and tissue culture supplies market is segmented into cell and tissue culture systems, bioreactors, petri dishes, cell and tissue culture cylinders, cell and tissue spreaders and lifters and others. Based on consumable products, the market is segmented into media, reagent and sera. Geographical breakdown and analysis of each of the aforementioned segments in the cell and tissue culture supplies market includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographic Analysis:
North America is expected to dominate the global cell and tissue culture supplies market trends include growing government focus and development in medical infrastructure. Cell and tissue culture supplies industry size in Europe is expected to see rapid growth during the forecast period due to a high focus on pharmaceutical and biotechnology companies and cell culture researchers in the region. Developing countries in Asia Pacific are expected to witness rapid developments during the forecast period. The rise in knowledge of innovative quality assurance methods, the increase in the number of health research and development projects, the expansion of health services and the growth in participation of foreign investors are driving the demand in Asia-Pacific.
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Competitive Scenario:
Global cell and tissue culture supplies market, is highly competitive, consists of a few major players. Currently, there are only few players which hold a chunk of major market share. Key companies are also expanding their manufacturing facilities to cater to growing demand for this drug globally. Key players enhancing the global cell and tissue culture supplies market size include HiMedia Laboratories, Dickinson and Company, Thermo Fisher Scientific (US), GE Healthcare (US), Danaher Corporation (US), Lonza (Switzerland), Becton, Merck KGaA (Germany), , Corning Incorporated (US), CellGenix GmbH (Germany), Eppendorf AG (Germany), Sartorius AG (Germany), PromoCell GmbH (Germany), Irvine Scientific (US), InvivoGen (US).
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