CELL CULTURE MARKET ANALYSIS

Cell Culture Market Size and Trends

The cell culture market is estimated to be valued at USD 22.56 Bn in 2024 and is expected to reach USD 49.39 Bn by 2031, growing at a compound annual growth rate (CAGR) of 11.8% from 2024 to 2031.

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The cell culture market is expected to witness positive growth over the forecast period. Technological advancements in cell culture media formulations which help in optimal cell growth are expected to drive the market. Growing demand for therapeutic antibodies for treatment of chronic diseases and increased R&D investment in cell-based research are some other factors expected to support the growth of this market. With increasing development of advanced therapeutics, demand for improved cell culture technologies for effective production is also expected to increase. This will likely provide new opportunities for players in this market in the coming years.

Increasing investment in research and development (R&D)

Increasing investment by key market players in research and development for the development of cell culture products is expected to drive the growth of the global cell culture market over the forecast period. For instance, on July 27, 2021, Pall Corporation, a global supplier of filtration, separations, and purification products, announced that the company along with Cytiva, a company involved in the research and development of life-saving vaccines, biologic drugs, and novel cell and gene therapies, had jointly invested US$ 400 million in cell culture media.

Increasing adoption of inorganic strategies like acquisitions by key players in market are expected to drive the market growth over the forecast period. For instance, on February 1, 2021, Cytiva, acquired Vanrx Pharmasystems, a Canada-based company that makes robotic aseptic filling machines to fill vials, syringes, and cartridges, to increase the production of cell culture and gene therapies.