According to a new market report published by Persistence Market Research “Global Market Study on Cell and Tissue Culture Supplies: Asia to Witness Highest Growth by 2020”
New York, NY -- (SBWIRE) -- 07/17/2017 -- The global cell and tissue culture supplies market was valued at USD 16,322.7 million in 2014 and is expected to grow at a CAGR of 9.5% from 2014 to 2020, to reach an estimated value of USD 28,108.3 million in 2020.
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Cell culture is the process by which cells are grown under appropriate conditions. The cells to be cultivated are removed from the tissue and disintegrated by means of enzymatic activity or mechanical process under sterile conditions. After disintegration, cells are subcultured and transferred into a fresh medium for growth. Cell and tissue culture has its applications in various fields such as treatment of diseases, production of vaccines and antibodies, drug discovery, and others. Globally, the cell and tissue culture supplies market is witnessing significant growth due to increasing demand for biopharmaceuticals and artificial organs, increasing R&D in the field of cell and tissue engineering and rising applications of cell and tissue cultures. In addition, and rising awareness about cell and tissue culture techniques and increasing prevalence of chronic diseases are driving the cell and tissue culture supplies market. However, factors such as strict license and accreditation procedures and complexity in cell culture techniques restrain the global market for cell and tissue culture supplies market. In addition, factors such as high cost followed with affordability issues and ethical concerns negatively impact the growth of the cell and tissue culture supplies market. The global cell and tissue culture supplies market is estimated at USD 16,322.7 million in 2014 and expected to reach USD 28,108.3 million in 2020, growing at a CAGR of 9.5%.
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North America has the largest market for the global cell and tissue culture supplies market. This is due to technological advancement and increased acceptance of artificial organs in the region. North American market for cell and tissue culture supplies is estimated at USD 8,079.0 million in 2014 and is expected to reach USD 14,079.0 million in 2020, growing at a CAGR of 9.7%.In terms of growth, Asia is the fastest growing region; this is due to increasing R&D in the field of cell and tissue culture in the region. In terms of type of media, serum-free media is the fastest segment. In terms of reagents, growth factors and cytokines are the fastest growing segment.
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Some of the latest trends that have been observed in the global cell and tissue culture supplies market include increasing number of contract research and growing popularity of serum-free, specialty, and customized media solutions.
Thermo Fisher Scientific, Inc. is a leading player in the global market for cell and tissue culture supplies market. Some of the other major players in cell and tissue culture supplies market are BD Diagnostics, EMD Millipore, Corning, Inc. and Lonza Group.