Cell Culture Plates Market Is Expected To Grow At A Rate Of More Than 4% Propelled By Rising Prevalence Of Chronic Diseases As Per The Business Research Company’s Cell Culture Plates Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Dec. 12, 2023 (GLOBE NEWSWIRE) — As per The Business Research Company’s Cell Culture Plates Global Market Report 2023, the global cell culture plates market is poised for substantial growth, forecasting an increase from $2.05 billion in 2022 to $2.16 billion in 2023, marked by a commendable Compound Annual Growth Rate (CAGR) of 5.4%. The cell culture plates market’s upward trajectory is expected to continue, reaching $2.62 billion by 2027, with a steady CAGR of 4.9%.
Addressing Chronic Diseases: The cell culture plates market finds vigor in addressing the rising prevalence of chronic diseases worldwide. These plates, instrumental in combining various cell types for research and development purposes, play a pivotal role in understanding disease progression, testing treatments, and assessing drug performance. With 74% of global deaths attributed to chronic diseases, including cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes, the market gains momentum as a vital player in combating health challenges.
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Influential Players Shaping the Market: Key players such as Thermo Fisher Scientific Inc., Merck KGaA, and Lonza Group AG are instrumental in shaping the cell culture plates market. Their contributions to market dynamics influence trends and contribute to the overall growth of the industry.
Product Innovation Driving Market Trends: A notable trend in the cell culture plates market is the emphasis on product innovation. Major companies, including Porvair Sciences, are introducing groundbreaking solutions, such as the Sero Krystal PDL-coated microplate. This innovative product promotes improved cell adhesion, development, and proliferation in serum-free media, contributing to advancements in cell culture technology.
Strategic Acquisitions Enhancing Industry Capabilities: Strategic acquisitions, exemplified by CELLINK AB’s acquisition of MatTek Corporation, showcase the industry’s commitment to enhancing capabilities. Through such acquisitions, companies aim to strengthen positions in bioprinting, cell line development, and diagnostics, gaining access to proprietary 3D human-derived tissue and disease models.
North America Leads the Charge: North America emerges as the largest region in the cell culture plates market in 2022, underlining its pivotal role in market dynamics. The cell culture plates market’s global segmentation based on types, materials, surfaces, applications, and end-users provides nuanced insights, reflecting the diverse landscape of the industry.
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This comprehensive report serves as a strategic guide for industry players, providing insights into market trends, facilitating informed decision-making, and unlocking growth opportunities. As the cell culture plates market evolves, businesses can leverage the insights offered in this report to strategically position themselves, ensuring success in a dynamic and expanding market. The cell culture plates market report empowers industry players to navigate challenges and capitalize on emerging trends, fostering sustainable growth in the evolving landscape of cell culture technology.
Cell Culture Plates Global Market Report 2023 by The Business Research Company provides insights on the cell culture plates market size, cell culture plates market segments, cell culture plates market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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