The biopharmaceutical production application segment is expected to grow at the highest CAGR during the forecast period.

Northbrook, IL -- (SBWire) -- 01/06/2021 --According to the new market research report "Cell Culture Market by Product (Consumables (Media, Serum, Vessels), Equipment (Bioreactor, Centrifuge, Incubator, Autoclave)), Application (Therapeutic Proteins, Vaccines, Diagnostics, Stem cells), End User (Pharma, Biotech) - Global Forecast to 2025" published by MarketsandMarkets™.

Revenue Growth Opportunities and Growth Drivers?

The cell culture market is projected to reach USD 33.1 billion by 2025 from USD 19.0 billion in 2020, at a CAGR of 11.8% during the forecast period.

Growth Boosting Factors:

# Growing awareness about the benefits of cell culture-based vaccines
# Increasing demand for monoclonal antibodies
# Funding for cell-based research
# Growing preference for single-use technologies
# Launch of advanced cell culture products
# Growing focus on personalized medicine

Opportunity: The growing risk of pandemics and communicable diseases;

Various factors, such as population growth, climate change, and increasing contact between humans and animals, have increased the threat of new virus outbreaks such as the COVID-19. These situations are unpredictable and recurring events that are highly likely to pose a significant economic and social burden. Globally, as of 28th October 2020, there have been 43.54 million confirmed cases of COVID-19, including 1.16 million deaths, as reported by the World Health Organization (WHO).

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Leading Key Players in the Worldwide Industry:

The prominent players operating in the cell culture market include Merck KGaA (Germany), GE Healthcare (US), Thermo Fisher Scientific (US), Becton, Dickinson and Company (US), Lonza (Switzerland), Eppendorf (Germany), HiMedia Laboratories (India), Corning Incorporated (US), Sartorius AG (Germany), PromoCell GmbH (Germany), Pall Corporation [acquired by Danaher (US)], CellGenix GmbH (Germany), Irvine Scientific (US), and InvivoGen (US).

Geographical Regions Mapped in Report:

By region, the cell culture market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World (RoW). In 2018, North America accounted for the largest market share, followed by Europe. The growing regulatory approvals for cell culture-based vaccines, rising incidence of diseases such as cancer, strong government support, and conferences and symposiums that create awareness on the latest trends in cell culture technology are the key factors driving the growth of the cell culture market in North America.

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Market Segmentation in Detailed:

On the basis of application, is categorized into biopharmaceutical production, stem cell research, diagnostics, drug discovery & development, tissue engineering & regenerative medicine, and other applications. The high growth of this segment is attributed to the commercial expansion of major pharmaceutical companies, growing regulatory approvals for the production of cell culture-based vaccines, and increasing demand for monoclonal antibodies (mAbs). This segment is further divided into vaccine production and therapeutic proteins. Of these, therapeutic proteins accounted for the largest share of the cell culture market for biopharmaceutical production.

Based on end user, is segmented into pharmaceutical & biotechnology companies, research institutes, hospitals & diagnostic centers, and cell banks. The pharmaceutical and biotechnology companies segment accounted for the largest market share in 2018 and is projected to register the highest CAGR during the forecast period. The growing use of single-use technologies, increasing number of regulatory approvals for cell culture-based vaccines, and presence of a large number of pharmaceutical players in this market are driving the cell culture market for this end-user segment.