A cell culture is defined as the distribution of cells in an artificial environment (in vitro). This artificial environment is composed of all the necessary nutrients, ideal temperature, gases, pH, and humidity, which are essential for the growth and proliferation of the cells. The cells for the process are obtained from either plant or animals. Different types of tools and machines are employed in producing a cell culture. These machines are also known as instruments. For instance, some of the instruments, which are used to produce cell culture include bioreactors, cell culture vessels, and others. Further, different types of chemicals are also employed in the production of a cell culture.
These chemicals are also referred as consumables, as they are completely used during the process. Some of the consumables used in the process include sera, reagents, and others. Cell cultures are of a great importance and hence find their use in fields such as cancer research, stem cell technology, and others. For instance, in cancer research, cell cultures enable investigators to tap a renewable source of stable tumor cells for various experiments. In addition, different types of industries use instruments and consumables to make cell cultures such as research institutes, pharmaceutical & biotechnology companies, and others. The major factors that contribute toward the growth of the cell culture market include surge in prevalence of cancer and rise in adoption of cell culture technique.
Furthermore, factors such as surge in awareness related to the use of cell culture technique in research and increase in research-related funding also help boost the market growth. In addition, surge in cancer-related research is another major factor that fuels the growth of the market. However, high capital investment and lack of infrastructure for cell-based research are anticipated to restrain the cell culture market growth during the forecast period. On the contrary, expected rise in demand for advanced cell culture technologies offers lucrative opportunity for the cell culture market growth.
The South Korea cell culture market is segmented on the basis of product, application, and end user to provide a detailed assessment of the market. By product, the market is divided into consumables and instruments. The consumables segment is further categorized into sera, media, reagents, and bioreactor accessories. The instruments segment is further sub-segmented into bioreactors, cell culture vessels, cell culture storage equipment, and cell culture supporting instruments. The consumables segment dominated the market in terms of revenue in 2019, owing to higher consumption of cell culture consumables along with repeated purchase of cell culture consumables as compared to cell culture instruments.
Based on application, the market is classified into stem cell technology, cancer research, drug screening & development, tissue engineering & regenerative medicine, and others. The tissue engineering & regenerative medicine segment spearheaded the market in 2019, and is expected to continue this trend during the forecast period as tissue engineering specializes in repairing damaged tissues by injecting new one generated by 3D cell culture. This culture methods try to reduce the gap between in vitro and in vivo drug testing models as much as possible. As a result, there are more and more targeted cancer treatment available.
On the basis of end user, the market is divided into research institutes, pharmaceutical & biotechnology companies, and others. The pharmaceutical & biotechnology companies segment led the market in 2019 in terms of value. This is attributed to expansion of major pharmaceutical companies and growing regulatory approvals for the production of cell culture-based vaccines. Major players operating in the market include Avantor, Inc. (VWR International, LLC), Bio-Rad Laboratories Inc., Corning Incorporated, Danaher Corporation (Cytiva), FUJIFILM Holdings Corporation (FUJIFILM Irvine Scientific, Inc.), Merck KGaA, Miltenyi Biotec B.V. & Co. KG, Sartorius AG, STEMCELL Technologies Inc., and Thermo Fisher Scientific Inc.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the South Korea cell culture market size along with the current trends and future estimations to elucidate the imminent investment pockets
- It offers market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market
- A comprehensive analysis on country assists to understand the country market and facilitate strategic business planning and determine prevailing opportunities
- The profiles and growth strategies of the
KEY PLAYERS
are thoroughly analyzed to understand the competitive outlook of the South Korea cell culture market growth
KEY MARKET SEGMENTS
By Product
- Consumables
- Sera
- Media
- Reagents
- Bioreactor Accessories
- Instruments
- Bioreactors
- Cell Culture Vessels
- Cell Culture Storage Equipment
- Cell Culture Supporting Instruments
By Application
- Stem Cell Technology
- Cancer Research
- Drug Screening and Development
- Tissue Engineering & Regenerative Medicine
- Others
By End User
- Research Institutes
- Pharmaceutical & Biotechnology Companies
- Others
List of Key Players profiled in the report
- Avantor, Inc. (VWR International, LLC)
- Bio-Rad Laboratories Inc.
- Corning Incorporated
- Danaher Corporation (Cytiva)
- FUJIFILM Holdings Corporation (FUJIFILM Irvine Scientific, Inc.)
- Merck KGaA
- Miltenyi Biotec B.V. & Co. KG
- Sartorius AG
- STEMCELL Technologies Inc.
- Thermo Fisher Scientific Inc.
List of other player in the value chain (profiles not included in the report):
- Eppendorf AG
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Table of Contents
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 141 |
Published | March 2021 |
Forecast Period | 2019 - 2027 |
Estimated Market Value ( USD | $ 216.3 million |
Forecasted Market Value ( USD | $ 606.4 million |
Compound Annual Growth Rate | 13.8% |
Regions Covered | South Korea |