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Cell Culture Market worth $51.3 billion | MarketsandMarkets
Cell Culture Market worth $51.3 billion | MarketsandMarkets
PR Newswire
CHICAGO, March 2, 2023
CHICAGO, March 2, 2023 /PRNewswire/ — The cell culture industry is expected to experience strong growth in the near future as advances in biotechnology,…
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Cell Culture Market worth $51.3 billion | MarketsandMarkets
PR Newswire
CHICAGO, March 2, 2023
CHICAGO, March 2, 2023 /PRNewswire/ -- The cell culture industry is expected to experience strong growth in the near future as advances in biotechnology, stem cell research, and tissue engineering continue to progress. The growth of the cell culture market is driven by increased demand for cell culture-based products and services across various industries. Additionally, the development of new technologies and the emergence of innovative product offerings have further strengthened the market's growth potential. Cell culture technologies are now being used in a variety of industries, including biopharmaceuticals, regenerative medicine, diagnostics, and research and development. The increasing use of cell culture in these industries has enabled the market to grow significantly. In the coming years, the cell culture market is expected to experience further growth as the demand for cell culture-based products and services continues to increase. Moreover, the development of new technologies, such as 3D bioprinting and organ-on-chip systems, is likely to further drive the market's growth.
Cell Culture Market in terms of revenue was estimated to be worth $27.9 billion in 2023 and is poised to reach $51.3 billion by 2028, growing at a CAGR of 12.9% from 2023 to 2028 according to a new report by MarketsandMarkets™. The growth of this market is majorly driven by the increasing government support and funding for cell-based research, adoption of single-use technologies, emerging cell culture technologies for cell-based vaccines and incidence of infectious diseases. On the other hand, the expensive cell biology research is restraining the growth of this market.
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Browse in-depth TOC on "Cell Culture Market"
692 - Tables
42 - Figures
556 - Pages
Cell Culture Market Scope:
Report Coverage | Details |
Market Revenue in 2023 | $27.9 billion |
Estimated Value by 2028 | $51.3 billion |
Growth Rate | Poised to grow at a CAGR of 12.9% |
Market Size Available for | 2020–2028 |
Forecast Period | 2023–2028 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Application, End user and Region |
Geographies Covered | North America, Europe, Asia Pacific, Latin America (LATAM) and Middle East and Africa (MEA) |
Report Highlights | Updated financial information / product portfolio of players |
Key Market Opportunities | Growth hotspots in emerging economies |
Key Market Drivers | Adoption of single-use technologies |
The equipment segment accounted for the second largest share, by product in the the cell culture market in 2022.
Based on equipment, the cell culture market is segmented into supporting equipment, bioreactors, and storage equipment. Cell culture involves the extensive use of laboratory equipment such as bioreactors, storage equipment, and cell culture-supporting equipment. The growing awareness about the benefits of cell culture-based vaccines (coupled with the growing regulatory approval for these products), increasing production of mAbs, and the introduction of technologically advanced products for high-demand applications (such as cell & gene therapy and regenerative medicine) are the key factors driving the growth of the cell culture equipment market.
The monoclonal antibody production segment accounted for the largest share of the biopharmaceutical production segment in the cell culture market in 2022.
Based on biopharmaceutical production, the cell culture market is categorized into monoclonal antibody production, vaccine production, and other therapeutic protein production. Monoclonal antibodies are multifunctional components of the immune system that fight infections. Most antibodies generated as a natural response are polyclonal, which means they are produced by several B lymphocytes. Monoclonal antibodies, on the contrary, are produced in laboratories and can bind to single specific targets in the body, such as antigens on the surface of certain cancer cells.
The North America region catered the largest share of the cell culture market in 2022.
The growing regulatory approvals for and awareness of cell culture-based vaccines, rising investments in biopharmaceutical R&D coupled with various initiatives from the leading companies, and conferences and symposia that create awareness of the latest cell culture trends are the key factors driving the growth of the cell culture market in North America. Biopharmaceutical companies in North America focus on R&D activities to develop and commercialize novel drugs and therapies. Additionally, various initiatives from leading companies have accelerated growth in North America.
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Cell Culture Market Dynamics:
Drivers:
- Government support and funding for cell-based research
- Emerging cell culture technologies for cell-based vaccines
- Growing popularity of monoclonal antibodies
- Adoption of single-use technologies
- Growing focus on product development
- Growth in cell and gene therapies and stem cell research
- Incidence of infectious diseases
Restraints:
- High cost of cell biology research
- Limitations in producing high-density cell cultures
Opportunities:
- Demand for 3D over 2D cell cultures
- Growth hotspots in emerging economies
Challenges:
- Disposal of plastic consumables
Key Market Players:
Key players in the cell culture market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), and Sartorius AG (Germany), Corning Incorporated (US).
Recent Developments
- In February 2022, Thermo Fisher Scientific announced a 15-year strategic collaboration agreement to enable dedicated large-scale manufacturing in the US.
- In October 2022, Cytiva acquired Cevec Pharmaceuticals GmbH, which is expected to strengthen Cytiva's leading position in biomanufacturing solutions.
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Cell Culture Market Advantages:
- Cell culture technology can be used to develop new medicines and treatments, which can reduce the time and cost of traditional drug development.
- It is a more efficient and effective way of producing large quantities of cells for research, clinical and industrial purposes.
- It provides a platform for better understanding of cellular processes, which can lead to the development of more effective treatments.
- It enables the production of specific cell types, which can be used to study diseases and develop treatments.
- It can be used to produce cells that would be difficult to obtain through traditional means.
- It can reduce the need for animals in research and development.
- It can be used to produce stem cells for research and therapeutic purposes.
- It is a cost-effective way of producing cells for research and commercial applications.
Cell Culture Market - Report Highlights:
- The new version of the report includes ranges/scenarios, pricing analysis, technology analysis, patent analysis, trends and disruptions impacting customers, and Porter's five forces analysis.
- Market size is updated for the base year 2022 and forecasted from 2023 to 2028 by studying the impact of the COVID-19 outbreak and recession on the overall cell culture industry.
- In the earlier version of the report, 20 companies were profiled. In the updated version, a total of 25 companies have been profiled.
- The new edition of the report provides updated financial information for the financial year ending March 31, 2022 (depending on availability) for listed companies in a graphical representation in the company profiles section. This will help analyze the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.
- Key market strategies/right to win, market share analysis, and competitive leadership mapping have been updated in the competitive landscape section of the report.
- The competitive leadership mapping section is an output of a comprehensive study of the key vendors offering cell culture products. The top 25 vendors were shortlisted from a list of 50+ vendors. These vendors were evaluated based on their market share/ranking and product footprint.
- The new version of the report includes the startup/SME company evaluation quadrant for ten companies operating in the cell culture market. This updated section is an output of a comprehensive study of the key startup vendors offering cell culture products. The top 10 vendors were shortlisted from a list of 50+ vendors. These vendors were evaluated based on business strategy excellence and the strength of the product portfolio.
- The report includes the market share analysis for 2022 and the revenue share analysis of key market players from 2020 to 2023. It also includes competitive benchmarking and growth strategies adopted.
- The new edition of the report includes market developments from 2020 to 2023.
Browse Adjacent Market:
Related Reports:
3D Cell Culture Market - Global Forecasts to 2027
Single Use Bioprocessing Market - Global Forecasts to 2026
Stem Cell Manufacturing Market - Global Forecasts to 2026
Cell Dissociation Market - Global Forecasts to 2026
Cell-based Assays Market - Global Forecasts to 2025
About MarketsandMarkets™:
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism
NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism
One month after the inflation outlook tracked…
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One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%.
The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.
Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.
We find the rent expectations surprising because it is happening just asking rents are rising across the country.
At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.
Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."
Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.
Turning to household finance, we find the following:
- The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
- Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
- Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
- The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
- Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
- The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
- At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."
Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months
Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.
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Homes listed for sale in early June sell for $7,700 more
New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…
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- A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more.
- The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
- The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia.
Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.
The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later.
The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.
The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.
Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing.
Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year.
Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.
| Metropolitan Area | Best Time to List | Price Premium | Dollar Boost |
| United States | First half of June | 2.3% | $7,700 |
| New York, NY | First half of July | 2.4% | $15,500 |
| Los Angeles, CA | First half of May | 4.1% | $39,300 |
| Chicago, IL | First half of June | 2.8% | $8,800 |
| Dallas, TX | First half of June | 2.5% | $9,200 |
| Houston, TX | Second half of April | 2.0% | $6,200 |
| Washington, DC | Second half of June | 2.2% | $12,700 |
| Philadelphia, PA | First half of July | 2.4% | $8,200 |
| Miami, FL | First half of June | 2.3% | $12,900 |
| Atlanta, GA | Second half of June | 2.3% | $8,700 |
| Boston, MA | Second half of May | 3.5% | $23,600 |
| Phoenix, AZ | First half of June | 3.2% | $14,700 |
| San Francisco, CA | Second half of February | 4.2% | $50,300 |
| Riverside, CA | First half of May | 2.7% | $15,600 |
| Detroit, MI | First half of July | 3.3% | $7,900 |
| Seattle, WA | First half of June | 4.3% | $31,500 |
| Minneapolis, MN | Second half of May | 3.7% | $13,400 |
| San Diego, CA | Second half of April | 3.1% | $29,600 |
| Tampa, FL | Second half of June | 2.1% | $8,000 |
| Denver, CO | Second half of May | 2.9% | $16,900 |
| Baltimore, MD | First half of July | 2.2% | $8,200 |
| St. Louis, MO | First half of June | 2.9% | $7,000 |
| Orlando, FL | First half of June | 2.2% | $8,700 |
| Charlotte, NC | Second half of May | 3.0% | $11,000 |
| San Antonio, TX | First half of June | 1.9% | $5,400 |
| Portland, OR | Second half of April | 2.6% | $14,300 |
| Sacramento, CA | First half of June | 3.2% | $17,900 |
| Pittsburgh, PA | Second half of June | 2.3% | $4,700 |
| Cincinnati, OH | Second half of April | 2.7% | $7,500 |
| Austin, TX | Second half of May | 2.8% | $12,600 |
| Las Vegas, NV | First half of June | 3.4% | $14,600 |
| Kansas City, MO | Second half of May | 2.5% | $7,300 |
| Columbus, OH | Second half of June | 3.3% | $10,400 |
| Indianapolis, IN | First half of July | 3.0% | $8,100 |
| Cleveland, OH | First half of July | 3.4% | $7,400 |
| San Jose, CA | First half of June | 5.5% | $88,400 |
The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.
federal reserve pandemic home sales mortgage rates interest ratesUncategorized
February Employment Situation
By Paul Gomme and Peter Rupert The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000…
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By Paul Gomme and Peter Rupert
The establishment data from the BLS showed a 275,000 increase in payroll employment for February, outpacing the 230,000 average over the previous 12 months. The payroll data for January and December were revised down by a total of 167,000. The private sector added 223,000 new jobs, the largest gain since May of last year.
Temporary help services employment continues a steep decline after a sharp post-pandemic rise.
Average hours of work increased from 34.2 to 34.3. The increase, along with the 223,000 private employment increase led to a hefty increase in total hours of 5.6% at an annualized rate, also the largest increase since May of last year.
The establishment report, once again, beat “expectations;” the WSJ survey of economists was 198,000. Other than the downward revisions, mentioned above, another bit of negative news was a smallish increase in wage growth, from $34.52 to $34.57.
The household survey shows that the labor force increased 150,000, a drop in employment of 184,000 and an increase in the number of unemployed persons of 334,000. The labor force participation rate held steady at 62.5, the employment to population ratio decreased from 60.2 to 60.1 and the unemployment rate increased from 3.66 to 3.86. Remember that the unemployment rate is the number of unemployed relative to the labor force (the number employed plus the number unemployed). Consequently, the unemployment rate can go up if the number of unemployed rises holding fixed the labor force, or if the labor force shrinks holding the number unemployed unchanged. An increase in the unemployment rate is not necessarily a bad thing: it may reflect a strong labor market drawing “marginally attached” individuals from outside the labor force. Indeed, there was a 96,000 decline in those workers.
Earlier in the week, the BLS announced JOLTS (Job Openings and Labor Turnover Survey) data for January. There isn’t much to report here as the job openings changed little at 8.9 million, the number of hires and total separations were little changed at 5.7 million and 5.3 million, respectively.
As has been the case for the last couple of years, the number of job openings remains higher than the number of unemployed persons.
Also earlier in the week the BLS announced that productivity increased 3.2% in the 4th quarter with output rising 3.5% and hours of work rising 0.3%.
The bottom line is that the labor market continues its surprisingly (to some) strong performance, once again proving stronger than many had expected. This strength makes it difficult to justify any interest rate cuts soon, particularly given the recent inflation spike.
unemployment pandemic unemployment
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