Cell Culture Reagents Market
Number of pages: 100 | Report Format: PDF | Published date: April 06, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 4.30 billion |
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Revenue Forecast in 2031 |
US$ 13.99 billion |
|
CAGR |
12.6% |
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Base Year For Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Product, Application, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global cell culture reagents market was valued at US$ 4.30 billion in 2022 and is expected to register a revenue CAGR of 12.6% to reach US$ 13.99 billion by 2031.
Cell Culture Reagents Market Fundamentals
Cell culture reagents include organic substances that initiate naturally occurring chain reactions in the body and inorganic substances that can be used in deliberately created reactions. Because the binding of reagents to the drug or other related substances produces certain reactions, they are frequently used to screen the presence of certain substances. Collins reagent, for instance, is used to convert alcohols to aldehydes and ketones. As a consequence, oxidizing acid-sensitive compounds can be advantageous. Similarly, Fenton's solution catalyzes the oxidation of contaminants in water and can be used to eliminate toxic compounds such as tetrachloroethylene.
The demand for reagents was raised during the COVID-19 pandemic as hospitals and diagnostic labs extensively used life science reagents to screen the target patients. Researchers are also using reagents to learn about illness statistics, which will help the sector expand. Furthermore, there has been a rise in molecular point-of-care testing for potential COVID-19 patients in institutions around the globe, increasing the use of cell culture reagents. Additionally, R&D activities in government and academic institutes have significantly increased in recent years due to favorable funding from several government organizations, fueled by a higher failure rate of drugs in earlier phase studies, an increase in chronic diseases, and concerns about proper diagnostics.
However, some market restraints include the high expense of research and development activities and the lack of adequate and better facilities for cell-based research.
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Cell Culture Reagents Market Dynamics
The growing significance of reagents in traditional research and the creation and production of important biomolecules and medicines are key factors affecting the growth of this market. Other key revenue growth drivers in this market include the expanding scope of cell culture in manufacturing and stem cell research, contract research, rising demand for biopharmaceuticals and artificial organ generation, and a shift in trend towards the use of serum-free, specialty, and customized media solutions. However, factors such as a strict regulatory environment, the need for sophisticated production skills and skill sets, the use of transgenic animals and plants, and ethical worries about animal sources limit the market's revenue growth.
The increased prevalence of infectious diseases and technical developments in life sciences and biotechnology propel market revenue expansion. Infectious illnesses are widespread due to pathogenic microbes such as bacteria, parasites, and viruses. These illnesses can be passed from person to person, either directly or tangentially. They are extremely contagious and can rapidly spread if precautions are not taken. In many developing and underdeveloped nations, an absence of healthcare organizations and resources can make these illnesses fatal.
The global biochemical reagents market revenue is growing due to a growing emphasis on R&D, expanding the application of biochemical reagents in the life science and healthcare sectors, technological advancements, and rising demand for diagnostics and imaging globally, owing to the rising risks of chronic diseases. For example, Hangzhou SciwindBiosciences Co. Ltd (Sciwind), a clinical-stage, fast-growing biopharmaceutical company, received USD 37 Million Series B funding from LYFE Capital in February 2021 to accelerate research and development of innovative biologics in the therapeutic area of chronic metabolic and immunological diseases.
Cell Culture Reagents Market Ecosystem
The global cell culture market is analyzed from four perspectives by product, application, end-user, and region.
Cell Culture Reagents Market by Product
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Based on product, the cell culture market is segmented into supplements, cryoprotective reagents, antibiotics/antimycotics, growth factors and cytokines cell dissociation reagents, buffers & chemicals, balanced salt solutions, contamination detection kits, attachment and matrix factors, other cell culture reagent (chelators, antioxidants, sugars, vitamins, stains, and dyes).
The growth factors and cytokines are expected to dominate the market during the forecast period. Cytokines and growth factors participate in signal transmission between cells, which aids in cell survival, proliferation, and performance of cell tasks. These are widely used as cell culture agents in biological science. Their high demand adds to this segment's large market revenue share.
Cell Culture Reagents Market by Application
Based on application, the cell culture reagents market is segmented into bioproduction, diagnostics, cancer research, drug screening & development, and stem cell research. The bioproduction segment is further into monoclonal antibody production, therapeutic protein production, vaccine production, and cell and gene therapy.
The bioproduction segment is expected to account for most of the cell culture chemicals market during the forecast period. Biopharmaceutical output and demand are increasing because of their efficacy in treating illnesses. Furthermore, higher vaccine manufacturing and authorization for monoclonal antibodies during the COVID-19 pandemic added to this segment's large market revenue share.
Cell Culture Reagents Market by End-User
Based on end-user, the cell culture reagents market is segmented into pharmaceutical & biotechnology companies, academic & research institutes, and diagnostic laboratories.
Pharmaceutical & biotechnology companies are expected to dominate the market in terms of revenue share during the forecast period. The higher usage of cell culture products in commercial and research bioproduction, as well as comparatively higher buying power compared to other end users, are major reasons adding to this segment's big market revenue share.
Cell Culture Reagents Market by Region
The cell culture reagents market has been segmented based on region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America is expected to dominate the market during the forecast period because it has the most developed healthcare system and is involved in numerous R&D projects. In comparison to other areas, this region is the most technologically sophisticated. The area of North America is also prominent in illnesses such as neonatal jaundice and skin diseases, and it has an extremely advantageous payment structure.
Europe is the second biggest region. Increasing drug discovery initiatives and a strong emphasis on developing the biotechnology sector in this area are anticipated to fuel market expansion.
The Asia Pacific market is expected to grow the fastest in all regions. This market is expected to expand due to increased demand for biopharmaceuticals and ongoing stem cell research programs in this region. Latin America, the Middle East, and Africa are still underdeveloped in contrast to other high-growth regions, but they are anticipated to expand soon. The increasing population is the primary driver of this region's healthcare and pharmaceutical industry, attracting significant investment from government and non-government companies. Furthermore, rising investment fuels demand for cell culture products throughout the Asia Pacific.
Competitive Landscape of the Global Cell Culture Reagents Market
Key market participants are undertaking strategic initiatives such as mergers and acquisitions, expansions, and new product development to expand the range of their products and enhance their market position. Some of the prominent market players in the global cell culture reagents market include:
Strategic Development in Cell Culture Reagents Market
North America is the key growth region in the global cell culture reagents market.
The increasing significance of reagents in traditional research and expanding the scope of cell culture in manufacturing and stem cell research, contract research, and rising demand for biopharmaceuticals are driving the market.
The estimated market size of the cell culture reagents market in 2031 will be US$ 13.99 billion.
The revenue CAGR of the cell culture reagents market during the forecast period will be 12.60%.
Some prominent global cell culture reagent market players include Merck KGaA, Thermo Fisher Scientific Inc., and PromoCell GmbH.
*Insights on financial performance are subject to the availability of information in the public domain