(IT-NEWSWIRE.COM, July 31, 2020 ) The cell culture market is expected to reach USD 29.2 billion by 2024 from USD 16.0 billion in 2019, at a CAGR of 12.7%. This market is experiencing significant growth due to the increasing demand for monoclonal antibodies, growing preference for single-use technologies, increasing focus on personalized medicine, and rising funding for cell-based research.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=559
The prominent players operating in this market include Thermo Fisher Scientific (US), Merck KGaA (Germany), GE Healthcare (US), Lonza (Switzerland), Becton, Dickinson and Company (US), Corning Incorporated (US), Eppendorf AG (Germany), HiMedia Laboratories (India), Sartorius AG (Germany), PromoCell GmbH (Germany), Danaher Corporation (US), Irvine Scientific (US), InvivoGen (US), and CellGenix GmbH (Germany). Players in this market focused on product launches, partnerships, agreements, collaborations, expansions, and acquisitions to develop and expand their market presence. From 2016 to 2019, product launches was the key growth strategy adopted by players such as Thermo Fisher Scientific, Merck KGaA, and GE Healthcare to enhance their presence in the market.
Thermo Fisher Scientific (US) is one of the leading players in the cell culture market. This position of the company can be attributed to its strong brand image and robust product portfolio. The company significantly focuses on launching new and advanced products. For instance, in 2018, the company launched its Cell Locker System, Cloud-Enabled Biological Safety Cabinet, and Invitrogen EVOS M7000 Microscope. Also, Thermo Fisher has a major focus on R&D and invested USD 0.97 billion and USD 0.89 billion in R&D in 2018 and 2017, respectively. To increase awareness about its products and offerings, the company has a strong promotional strategy and participates in various trade exhibitions, seminars, and workshops. These factors, coupled with its strong sales force in over 180 countries, have made Thermo Fisher one of the leading players in the cell culture market.
Merck KGaA (Germany) holds a dominant position in the cell culture market. The company has a strong portfolio of cell culture products, including cell culture equipment, cell culture media, reagents, and sera. In order to maintain its strong position in the market, the company focuses on adopting organic as well as inorganic growth strategies such as acquisitions and new product launches. The company’s focus on inorganic growth strategies is evident from its recent collaboration with GenScript (China) to fast-track the commercialization of the cell & gene therapy platform by building a global-standard platform for plasmid and virus manufacturing in China. Furthermore, Merck has a well-organized supply chain, which delivers standard products in 24 to 48 hours worldwide.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=559
GE Healthcare (US) is another leading player in the cell culture market. The company has an exhaustive product portfolio, which includes classical media, specialty media, calf sera, FBS, FBS alternatives, specialty sera, other sera, reagents & supplements, balanced salts, and buffers. GE Healthcare focuses on adopting organic and inorganic business strategies. In May 2018, the company increased its annual production capacity of powdered cell culture media by tenfold. This development strengthened the product supply for biopharmaceutical companies in Europe. The company also doubled its powdered cell culture media manufacturing capacity in the US. In November 2017, GE Healthcare acquired Puridify (UK). This acquisition will help it enhance its production of biopharmaceuticals. Such acquisitions help strengthen the company’s product offerings in the cell culture market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra