The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Cell Culture Consumables And Equipment Global Market Report 2023, the cell culture consumables and equipment market is expected to show significant growth in the forecast period.

The cell culture market has witnessed substantial growth in recent years, reaching $25.14 billion in 2023 and projected to expand to $28.16 billion in 2024 at a remarkable compound annual growth rate (CAGR) of 12.0%. This surge can be attributed to the increasing demand for biopharmaceutical research, regenerative medicine, vaccine development, and the rising prevalence of chronic diseases, supported by enhanced government funding for research and development.

Market Overview: Navigating Growth Pathways

• Market size: $25.14 billion in 2023, projected to reach $28.16 billion in 2024
• Compound annual growth rate (CAGR): 12.0%
• Key drivers: Biopharmaceutical research, regenerative medicine, vaccine development, government funding for research and development

Forecasted Growth: A Promising Future Awaits The cell culture market is poised for robust growth in the forecast period (2024-2028), reaching $40.3 billion at a CAGR of 9.4%.

• Drivers: Infectious disease research, demand for biologics, research into rare diseases, personalized medicine, advanced therapies, cell-based assays, stem cell therapies
• Major trends: Advances in cell culture technology, 3D cell culture, organoid culture, bioprocess automation, single-use bioreactors, cultured meat, drug screening and toxicity testing, artificial intelligence and machine learning, cell culture in space, and bioprinting.

Funding Boosts Cancer Research and Market Growth

• Increased funding for cancer research is a key driver of growth in the cell culture consumables and equipment market.
• Funding impact: National Cancer Institute received a budget of $7.3 billion in fiscal year 2023, a $408 million increase over 2022.
• Significance: Funding contributes to the development, advancement, and accessibility of cell culture consumables and equipment.

View More On The Cell Culture Consumables And Equipment Market Report 2023 – https://www.thebusinessresearchcompany.com/report/cell-culture-consumables-and-equipment-global-market-report

Major Players: Driving Innovation and Expansion Leading companies play a pivotal role in shaping the cell culture market landscape.

• Key players: Becton Dickinson and Company, Corning Inc., Danaher Corporation, Eppendorf AG, HiMedia Laboratories Private Limited, Lonza Group AG, Merck KGAA, and others.
• Contributions: Innovations and strategic initiatives drive market growth.

Coated Microplates Revolutionizing Cell Culture

• Focus on coated microplates is on the rise to gain a competitive edge.
• Porvair Sciences Limited introduced Sero Krystal PDL microplates, coated with Poly-D-Lysine (PDL) for enhanced cell attachment and growth.
• Applications: Ideal for reproducible cell culture, cell-based assays, high-throughput screening, and drug discovery.

Strategic Acquisition by Sartorius: Expanding Portfolio

• In July 2021, Sartorius acquired Xell AG, a cell culture specialist based in Germany.
• Purpose: Expanding Sartorius’ media offering and other cell culture products.
• Impact: Acquisition contributes to the evolution of the cell culture consumables and equipment market.

Market Segmentation: Understanding Diversity The cell culture consumables and equipment market is segmented based on various criteria, providing insights into its diverse applications.

1. By Product: Consumables, Instruments
2. By Application: Vaccination, Toxicity testing, Cancer Research, Drug Screening and Development, Recombinant Products, Stem cell technology, Regenerative Medicine, Other End Users
3. By End User: Industrial, Biotechnology, Agriculture, Other End Users

Regional Insights: North America Takes the Lead

• North America emerged as the largest region in the cell culture consumables and equipment market in 2023.
• Significance: North America’s dominance underlines the global nature of the market and its continued growth potential.

Conclusion: Paving the Way for Advancements As the cell culture market continues its upward trajectory, fueled by technological innovations, increased funding, and strategic acquisitions, the future looks promising. With major trends shaping the landscape and a diverse range of applications, the cell culture market is poised to contribute significantly to advancements in biopharmaceuticals, regenerative medicine, and beyond.

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