The size of the European Cell Culture Market is forecasted to be worth USD 2.68 billion in 2023. It is estimated to be growing at a CAGR of 10.02%, to reach USD 4.33 billion by 2028 during the forecast period. The market is expected to maintain the largest cell culture market between 2023 and 2028 Under UK leadership. This major market area has an average annual growth rate of 28.7%. The high market share in these regions is due to the rising prevalence of cancer, increased investment in research and development, the rising number of healthcare centers. Also, governments in these regions are helping advance cell culture through grants and funding.
Cell culture is the process of growing cells under controlled conditions outside their natural environment. The conditions of the culture can vary vastly. Still, in general, they consist of a substrate or medium, growth factors, hormones, gases such as carbon dioxide and oxygen, and a regulated physio-chemical environment with set factors such as pH osmotic pressure and temperature.
The lifespan of the culture cells depends mostly on the source of the cells. Still, some cells have been converted into immortal cells, which will keep on multiplying indefinitely if favorable conditions are provided. Nowadays, cell culture refers to the culturing of cells derived from multicellular eukaryotes instead of the fungal and microbiological cultures used in the initial stages of cell culture discovery.
The major factors affecting the Europe Cell Culture market include the rise in demand for drug discovery and the increased focus on the biotechnology industry. Additionally, the operating costs of industries and laboratories, in general, are reducing to the rise in government investments for healthcare due to the increased risk of diseases. The 3D cell culture project is an upcoming venture that offers a wide range of opportunities and is another driver for the market.
The high costs of equipment needed for cell culture and the lack of infrastructure act as major impediments to the upward climb of the European cell culture market.
This research report on the European cell culture market has been segmented and sub-segmented into the following categories:
Geographically, Germany is the fastest-growing among all nations in Europe in biotechnology practices. Technological advancements support the researcher to develop cell culture techniques is majorly boosting the demand of the German Cell Culture market. It accelerates the biotechnology industry towards drug discovery. Increasing research & development activities, higher demand for biologics, healthcare facilities will augment the business growth of the related verticals.
In France, government support to biotech companies by giving interest-free loans to form independent companies with state-funded research is propelling the French cell culture market.
The UK cell culture market is growing with the highest CAGR from the past few years and is anticipated to have dominant shares in the coming years. The rising economy and escalating expenditure on healthcare are fuelling the growth rate of the market.
KEY MARKET PLAYERS:
A few prominent companies in the European cell culture market profiled in this report are Thermo Fisher Scientific, GE Healthcare, Merck KGaA, Sartorius AG, Eppendorf AG, Lonza AG, Corning, Becton, Dickinson and Company, Promocell GmbH, and Hi-Media Laboratories.
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