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Vaccine Production, Consumables, and Media Are New Revenue Pockets in the Cell Culture Market
Cell culture has its applications in a large number of fields including biopharmaceutical production, drug screening and development, gene therapy, toxicity testing, and life science research. It is one of the most widely used techniques for biopharmaceutical and vaccine production. According to IMS Health, biologics (which includes biopharmaceuticals and vaccines) are expected to grow at a CAGR of about 18% by 2017. The rapid growth in biopharmaceutical and vaccine production will be the primary driver for the cell culture market between 2013 and 2018. Furthermore, increase in the healthcare spending and increased R&D activities will aid the growth of this market.
North America accounted for the largest share of the global cell culture market in 2013. However, the Asia-Pacific market is expected to grow at the highest CAGR during the forecast period and represents new revenue pockets for the cell culture market. The Asia-Pacific market is expected to witness a steady year-on-year growth, owing to the increased outsourcing of biopharmaceutical manufacturing to countries in the Asia-Pacific regional segment, increasing healthcare budgets, and increasing R&D activities in this region.
The biopharmaceutical production application segment had the largest share of the cell culture equipment market in 2013, while the vaccine production application segment is expected to grow at the highest CAGR between 2013 and 2018. Vaccine production is a significant growth opportunity for the cell culture market in the forecast period.
In the cell culture equipment market, the lab equipment product segment had the largest share in 2013. On the other hand, the consumables product segment is expected to grow at the highest CAGR between 2013 and 2018. In the cell culture media, sera, and reagents market, the serum product segment had the largest share in 2013, whereas the media product segment is expected to grow at the highest CAGR between 2013 and 2018. Cell culture consumables and sera are important revenue pockets in this market.
Cell Culture Market by Equipment (Bioreactor, Incubator, Centrifuge), by Reagent (Media, Sera, Growth Factors, Serum Free Media), by Application (Cancer Research, Gene Therapy, Drug Development, Vaccine Production, Toxicity Testing) - Global Forecast to 2018
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