Global cell and tissue culture supplies market report published by Accurize Market Research forecast that the global market is expected to reach $36.7 billion by 2024; growing at a CAGR of 9.2% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
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Rising prevalence of chronic diseases, growing investments in R&D for cell-based research and tissue engineering and increasing demand for serum and vaccines across the globe to drive the growth of the market
Rising prevalence of chronic diseases, growing investments in R&D for cell-based research and tissue engineering and increasing demand for serum and vaccine fuel the demand for the global cell and tissue culture supplies market. Moreover, rising demand for artificial organs and increasing applications of cell and tissue culture also boosts the growth of the market.
Market Segmentation
The global cell and tissue culture supplies market have been bifurcated on the basis of type, application, and geography. The type segment is bifurcated into consumable products (media (serum-free media, classical media, specialty media, lysogeny broth, chemically defined media, and protein-free media), reagent (protease inhibitors, growth factors & cytokines, thrombin, albumin, amino acids, and others), sera (fetal bovine serum and others), contamination detection kits, cryoprotective agents) and instruments (culture systems (tissue culture flasks, multiple well plates, roller bottles, bioreactors, culture bags and culture dishes), incubators, biosafety cabinets, cryostorage equipment, roller bottle equipment, pipetting instruments and others). Furthermore, applications are categorized into vaccine production, biopharmaceutical production, toxicity testing, gene therapy, drug screening & development, cancer research, and others.
By geography, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World (RoW). The U.S., Canada, Mexico are covered under North America wherein Europe covers the UK, Germany, France Italy, and others. Asia-Pacific covers China, Japan, India, South Korea, and others. RoW covers South America, the Middle East, and Africa.
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“Instruments accounted for the largest market share in the type segment", says Accurize
By type segment, instruments accounted for the largest market share in 2017, while, consumable products are anticipated to attain the fastest CAGR during the forecast period 2017 – 2025. Moreover, biopharmaceutical dominated the applications segment by the largest market share, followed by vaccine production in 2017. In terms of growth, vaccine production is expected to dominate in the forecast period.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America held a major portion of the total global market share with 49.4%, followed by Europe with 25.9%. Whereas, Asia-pacific is anticipated to dominate with the fastest CAGR during the forecast period 2017 to 2025, due to, rising need for automated cell culture process, increasing demand for drug discovery and increasing number of people suffer from chronic diseases.
Top players in the market
The key market players include Wheaton Industries, Inc., VWR International, Corning, Inc., Thermo Fisher Scientific, Inc., STEMCELL Technologies Inc., Merck KGaA, Lonza Group AG, Promocell GmbH, Eppendorf AG, and GE Healthcare, among others.
