Research Nester released a report titled “Tissue Culture Reagents Market: Global Demand Analysis & Opportunity Outlook 2029″ which delivers detailed overview of the global tissue culture reagents market in terms of market segmentation by therapy type, application and region.
The tissue culture reagents market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the Extensive research associated with various diseases and treatments in western countries, along with the growing investment in the development of advanced therapies such as vaccines are expected to fuel the progress of this market. According to the data collected from UNICEF, the global immunization coverage by selected antigens are 88% for BCG vaccine, 90% DTP1 vaccine, 85% for DTP3 vaccine, 85% MCV1 vaccine, 71% MCV2 vaccine, 48% PCV3 vaccine, 86% for POL3 vaccine and 39% ROTAC vaccine in 2019.
The market is segmented based on reagent type into media, sera, culture, and others, out of which, the cell culture segment is anticipated to grab the largest share by the end of 2021 due to the primary usage of mammalian cell cultures in the production of mammalian pharmaceuticals and the growing demand for non-conventional drugs developed as a result of bio-production of proteomically and genetically enhanced drugs, this segment is expected witness lucrative growth in demand over the forecast period.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the tissue culture reagents market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. Currently, the market in North America holds the largest share. This can be attributed to growing regulatory approvals for cell culture-based vaccines, growing academic and government investments in cell-based research, high life science research funding, high biopharmaceutical R&D expenditure, and the greater adoption of advanced technologies in North America are driving the cell culture market in the region.
Increasing Investments in Research and Development in Life Science Industry to Drive the Market Growth
During 2019-2020, total venture capital funding for the life sciences industry was more than $17 billion.
The growth of this market is majorly driven by the growing awareness about the benefits of cell culture-based vaccines, increasing demand for monoclonal antibodies (mAbs), funding for cell-based research, growing preference for single-use technologies, and the launch of advanced cell culture products.
The growing demand for 3D cell culture, the growing risks of pandemics and communicable diseases, and emerging markets are expected to offer significant growth opportunities for the players operating in the global Cell culture market. On the other hand, the high cost of cell biology research and the lack of proper infrastructure for cell-based research activities are the major factors restraining this market’s growth.
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This report also provides the existing competitive scenario of some of the key players of the global tissue culture reagents market which includes company profiling of Becton, Dickinson and Co. (NYSE: BDX), Bio-Techne Corp. (NASDAQ: TECH), Irvine Scientific, Cytiva Life Sciences, Fluidigm Corp. (, NASDAQ: FLDM), GE Healthcare (NYSE: GE), Lonza Group Ltd. (SWX: LONN), Merck KGaA (NYSE: MRK), Sartorius AG (ETR: SRT) and, Thermo Fisher Scientific Inc. (NYSE: TMO). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global tissue culture reagents market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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