#Global #Cell #Culture #Market #Surpass #Million
Seattle, Sept. 29, 2022 (GLOBE NEWSWIRE) — According to Coherent Market Insights, the global cell culture market is estimated to be valued at US$ 19,198.0 million in 2022 and is expected to exhibit a CAGR of 7.2 % during the forecast period (2022-2030).
Key Trends and Analysis of the Global Cell Culture Market:
Regenerative therapy research has attained tremendous growth in recent years due to the large amounts of investments funneled into this domain. As cell culture techniques constitute an essential step in such research applications, market is expected to witness significant growth in the near future. Key players involved in market are undertaking initiatives to extend their product portfolios and strengthen their market position. For instance, in January 2022, Cytiva, a company involved in the research and development of life-saving vaccines, biologic drugs, and novel cell and gene therapies, collaborated with Nucleus Biologics, a company involved in precision cell culture providing cell culture media and cell culture, to develop custom culture media for cell and gene therapies.
Advancements in 3D culture technologies and their increasing adoption for biopharmaceutical production, drug discovery, and tissue engineering applications is also expected to boost the market growth. For instance, in March 2022, CELLINK, a subsidiary of BICO, a bioconvergence startup that designs and supplies technologies and services to enhance biology research, launched its BIO CELLX bio-dispensing platform for the automation of 3D cell-based assays for drug discovery and cancer research. Such product launches are likely to broaden the growth prospects for the segment.
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Key Market Takeaways:
Global cell culture market is expected to exhibit a CAGR of 7.2 % during the forecast period due to increase in collaborations by key market players. For instance, on May 13, 2022,…