Leading Companies in Global Cell Culture Market looking towards Emerging Nations as They Exhibit Higher Healthcare Spending
On account of transitions witnessed in the global cell culture market, stakeholders can expect product launches and substantial product differentiation across the various segments of the market in the coming years. In addition, the increasing application of the cell culture technology in drug discovery, cancer detection, and manufacturing of biologics will spur growth in the market. Cell culture is used in stem cell research and genetic engineering, developing research model systems, and in the studies of cellular structures and functions. This, coupled with the rising investment in research and development activities by life science companies, innovations in stem cell research, and extensive academic collaborations, augur well for the market, thereby spawning a multibillion dollar industry forecast to reach US$11.3 bn by the end of 2022.
Transparency Market Research, a leading market intelligence firm, has pegged the global cell culture market at US$6.1 bn in in 2013. The market is projected to exhibit a CAGR of 7.1% between 2014 and 2022.
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Q: Which regions will prove the most lucrative for the global cell culture market?
A: Regionally, Asia Pacific, Europe, North America, Latin America, and Rest of the World constitute the key segments in the global cell culture market. Among these, North America emerged dominant in 2013. Robust research activities credited to the region as it focuses on the development of drugs and biologics, and the presence of leading biotechnology, pharmaceutical and food and beverages companies in North America are aiding the expansion of the cell culture market in the region.
In the same year, Europe held the second-leading share in the global market, while Asia Pacific is projected to offer lucrative opportunities over the next few years. The fast developing economies in Asia Pacific, such as China and India have emerged as hubs of pharmaceutical and healthcare giants. The immense development exhibited by the healthcare industry has touted India and China as favorite destinations for medical tourism in Asia Pacific. This situation has proven quite conducive to the growth of an increasing number of contract research and manufacturing organizations in the region. For instance, Corning Life Sciences, one of Corning Inc.’s ancillary, has formally splashed in the Indian market in December 2016. The branch will focus on the development of drugs, vaccines, and novel medical treatments.
Q: Which countries have proven major markets for cell culture?
A: India, Australia, China, and Japan are considered the leading markets for cell culture in Asia Pacific. The rising healthcare expenditure in China and India are expected to play a major role in fuelling the global cell culture market. In addition, the increasing private and public investment in life science research, particularly in cell culture is expected to bolster opportunities for the market in across various nations in Latin America and Rest of the World. Furthermore, improving healthcare infrastructure, flexible regulatory requirement, and the rising awareness will accelerate pace of gains for the cell culture market in nations across the Latin America and Asia Pacific.