Albany, New York (PRWEB) May 13, 2013
The growth of this market is driven by the shift towards use of live model systems for drug discovery and evaluation, use of animal-derived component-free media and reagents, and growing demand for advanced biologics and biosimilars produced by biopharmaceutical manufacturers. Increasing demand for automated cell culture processes and systems will help boost growth in the cell culture instruments market.
A shift towards contract manufacturing and research to cater to the ever-increasing demands of the healthcare sector with respect to advanced treatment options will further help fuel growth of this market during the forecast period from 2012 to 2018.
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The market for serum-free media is the fastest growing segment with a CAGR of 21.1%. The adoption of serum-free, chemically defined and specialty media will be considerably high, driving growth of this segment. The bioreactor and culture system segments form the most attractive markets in the consumables segment, in terms of revenues as well as CAGR.
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Geographically, North America constituted the major market for cell culture in 2011. This can be attributed to the presence of a large number of leading market players, high healthcare expenditure and availability of advanced technologies in the fields of biotechnology. However, Asia-Pacific is expected to be the fastest growing region, growing at a high CAGR of 15.6%, due to the emergence of many small regional players, lower operating costs as compared to developed markets and growing economies.
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The global cell culture market is dominated by a small number of large players such as BD Biosciences, Corning Biosciences, EMD Millipore, Life Technologies Corporation, Lonza Group, Sigma-Aldrich Corporation and Thermo Fisher Scientific, Inc. In 2011, Life Technologies Corporation accounted for the largest market share, followed by BD Biosciences and EMD Millipore.
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