Cell culture refers to the removal of cells from an animal or plant and subsequent re-growth in an artificial controlled environment. Cell culture provides a safe, controlled, and reproducible environment as compared to in vivo experimentation. Cell culture allows scientists to study and understand the normal physiology and biochemistry of cells and tissues outside their usual biological context and develop new biomedical technologies. The global cell culture market is estimated to be valued at US$ 19,198.0 Mn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
Drug discovery and development
The cell culture market is expected to witness significant growth owing to the opportunity in drug discovery and development. Cell culture provides a crucial method for the discovery, research, and manufacture of new drugs. Cell lines derived from tumours are extensively used to model cancer and test new anticancer drugs. Cell culture based assays allow high-throughput screening of large chemical libraries to identify hits for further optimisation into drug candidates. In addition, cell lines are critical for manufacturing current and future cell and gene therapies. The opportunity for cell culture in drug development and manufacturing is expected to propel the demand and drive the market growth over the forecast period.
Porter's Analysis
Threat of new entrants: Low capital requirements and established distribution channels lower barriers to entry. However, presence of large players and need for technological expertise pose challenges.
Bargaining power of buyers: Many global pharma companies are major buyers with significant influence on pricing. Development of substitutes providing desired results can shift buyer preferences.
Bargaining power of suppliers: suppliers of critical raw materials like media, serum and reagents enjoy some pricing power due to specialized product differentiation and control over intellectual property.
Threat of new substitutes: Alternatives like animal testing and biochips offer competition. However, cell culture is irreplaceable for certain applications due to its ability to replicate in vivo conditions.
Competitive rivalry: Large players compete on technical expertise, proprietary technologies, product innovation and expansion into emerging markets. pricing pressures exist from regional generic competitors.
SWOT Analysis
Strength: Wide applications in medical research, biologics production and toxicology testing. Ability to closely mimic in vivo conditions makes it invaluable.
Weakness: Complex and expensive processes require specialized infrastructure and trained labor. Contamination control challenges impact yields.
Opportunity: Growing demand for biopharmaceuticals and cell therapies drive expansion. Emerging markets in Asia Pacific expected to spur future growth.
Threats: Stringent regulations add to compliance costs. Dependency on availability of critical raw materials exposes to supply chain disruptions.
Key Takeaways
The global cell culture market is expected to witness high growth over the forecast period of 2023-2030. The market is projected to grow at a CAGR of 7.2% during the forecast period. By 2030, the market size is estimated to reach US$ 34,390.1 Mn.
Regional analysis: North America dominated the overall cell culture market in 2023, accounting for the largest revenue share of 39.4%. This is attributed to presence of major market players, strong biopharmaceutical industry and heavy investments in R&D activities in the region. Asia Pacific is expected to witness the fastest growth over the forecast period supported by rising biopharmaceutical production and growing biotechnology industry in nations like China and India.
Key players: Key players operating in the cell culture market are Corning Incorporated, Merck KGaA, Sartorius AG, BioSpherix, Ltd., Cell Culture Company, LLC, Thermo Fisher Scientific Inc., VWR International LLC, and Lonza. These leading players focus on expanding their product portfolios and geographic reach through strategic collaborations and acquisitions to consolidate market presence.
