The Global Cell Culture Market, by Product Type (Instruments and Consumables), By Application (Vaccine Production, Gene Therapy, Cancer Research, Tissue Culture, Drug Development, and Others), By End User (Academic & Research Institutions, and Pharmaceutical and Biotechnology Companies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was estimated to be worth US$ 15,805.7 million in 2019, and is expected to grow at a CAGR of 6% in 2020.
Over the projected period, the market is likely to rise due to an increase in product releases by leading manufacturers operating in the cell culture industry to strengthen their market position. Thermo Fisher Scientific Inc., for example, released the Cytomat 2 C-LiN Series Automated Incubator in October 2019. Cell growth and environmental control are provided by the novel incubator system in a variety of microplate applications, including cell-based screening, immuno-capture assays, microbiology, and enzyme testing.
Furthermore, the robust pipeline of cell culture products is likely to boost market growth throughout the forecast period, owing to the rising prevalence of breast cancer. Breast cancer, for example, is the most common disease among women, affecting 2.1 million women worldwide each year, according to a WHO report released in 2018.
Increased strategic collaborations and new product launches by major players are likely to boost their product portfolios and drive the global cell culture market forward throughout the forecast period. For example, in June 2019, Thermo Fisher Scientific Inc. and Sociology, a specialist in closed, automated manufacturing systems for cell therapies, signed a strategic partnership agreement for the development and commercialization of instrumentation and reagent systems to improve the productivity and scalability of cell and gene therapy manufacturing.