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South Korea Cell Culture Market by Product (Consumables and Instruments), Application (Stem Cell Technology, Cancer Research, Drug Screening and Development, Tissue Engineering & Regenerative Medicine, and Others), and End User (Research Institutes, Pharmaceutical & Biotechnology Companies, and Others): Opportunity Analysis and Industry Forecast, 2020–2027

A10562
Pages: 141
Mar 2021 | 255 Views
 
Author(s) : Kishor Sherkar and Linu Dash
Tables: 42
Charts: 52
 

COVID-19

Pandemic disrupted the entire world and affected many industries.

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South Korea Cell Culture Market Overview:

The South Korea cell culture market size was valued at $216.3 million in 2019, and is projected to reach $606.4 million by 2027, registering a CAGR of 13.7% from 2020 to 2027.

COVID-19 outbreak has considerable impact on South Korea. Increase in cases of COVID-19 in the country has fueled the need of vaccines, which resulted in many R&Ds, thereby boosting the demand for cell culture products. Thus, this is expected to support the market growth over the forecast period.

Cell culture refers to the culture of nucleated (eukaryotic) cells under controlled conditions within the laboratory. In this process, cells are removed from the organism and introduced into an artificial environment with favorable conditions. Moreover, this artificial environment is composed of all the necessary nutrients such as ideal temperature, gases, pH, and humidity, which are essential for the growth and proliferation of the cells. Removal of cells from the tissues can be carried out either by mechanical or enzymatic method before cultivation. The cells to be grown can also be derived from a cell line or cell strain that has already been established.

South-Korea-Cell-Culture-Market,-2020-2027

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Different types of tools and machines are employed in the production of cell culture. These machines are known as instruments. Furthermore, different types of chemicals are also employed in the production of a cell culture. These chemicals are also known as consumables, as are completely consumed in the process. Culture condition required for cell culture includes substrate or medium, growth factors, hormones, gases, and regulated physico-chemical environment.

Factors that drive the growth of the cell culture market include prevalence of cancer, increase in adoption of cell culture technique, and rise in research funding in South Korea. For instance, according to the report published by National Cancer Center Korea, cancer is the most common cause of death in Korea as well as it is responsible for one out of every three deaths in the country. In 2016, the number of cancer cases in the country was 231,236, which was increased to 232,255 in 2017. Different key players offer cell culture products that are consistently used for cancer research. For instance, key players such as Thermo Fisher Scientific Inc. offer cancer cytogenetic media and heat stable recombinant human basic fibroblast growth factor (bFGF), which are used while performing wound healing assays, or scratch assays, to determine the migratory potential of cancer cells.

However, high capital investment and lack of infrastructure for cell-based research are anticipated to restrain the South Korea cell culture market growth during the forecast period. 

On the contrary, expected rise in demand for advanced technologies is likely to create ample opportunities for the market growth in the near future.

The World Health Organization (WHO) on January 30, 2020, declared COVID-19 outbreak a public health emergency of international concern. For instance, according to the Korea Centers for Disease Control and Prevention (KCDC), in March 2021, the number of coronavirus-infected people has increased to 7,382 in South Korea, with a total of 51 deaths from the COVID-19 registered in the country. Furthermore, rise in demand for cell culture product due to the pandemic has been witnessed. In addition, increase in number of cases of COVID-19 drives the need for vaccines, which leads to research and development as vaccines are in clinical trial. Therefore, there is a requirement of cell line and different cell culture techniques used in COVID-19. In addition, researchers are trying to understand the disease at a molecular level to develop therapeutic interventions. However, primary cells are excellent models for studying respiratory diseases. Primary cell culture offers the opportunity to understand lung disease mechanisms at a cellular level and to specifically target pathogenic processes using therapeutic compounds during COVID-19 pandemic. Thus, COVID-19 is expected to boost the demand for cell culture market in the near future.

South Korea Cell Culture Market Segmentation

The South Korea cell culture market is categorized into product, application, and end user. On the basis of product, the market is segmented into consumables and instruments. The consumables segment is further divided into sera, media, reagents, and bioreactor accessories. The instrument segment is additionally 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.

On the basis of application, the South Korea cell culture market is classified into stem cell technology, cancer research, drug screening and development, tissue engineering & regenerative medicine, and others. The tissue engineering & regenerative medicine segment spearheaded the market, owing to increase in applications of cell culture in tissue engineering and regenerative medicine.

On the basis of end user, the South Korea cell culture market is divided into research institutes, pharmaceutical & biotechnology companies, and others. The pharmaceutical & biotechnology companies segment is expected to dominate the market throughout the forecast period, owing to expansion of major pharmaceutical companies and growing regulatory approvals for the production of cell culture-based vaccines.

South Korea Cell Culture Market
By Product

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The Consumables segment is expected to dominate the market throughout the forecast period.

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The key players operating in the South Korea cell culture market include Thermo Fisher Scientific Inc., Merck KGaA, Danaher Corporation (Cytiva), Bio-Rad Laboratories Inc., Sartorius AG, FUJIFILM Holdings Corporation (FUJIFILM Irvine Scientific, Inc.), Corning Incorporated, Avantor, Inc. (VWR International, LLC), Miltenyi Biotec B.V. & Co. KG, and STEMCELL Technologies Inc. The cell culture market is competitive in nature, as major players in this vertical are concentrating on growth strategies such product launch, operational expansion, acquisition, partnership, and collaboration to attain competitive edge in the market.

For instance, in April 2020, Danaher Corporation launched Cytiva in South Korea, which aims to completely rebrand the GE (General Electric’s) Healthcare LifeScience.

South Korea Cell Culture Market
By Application

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The Tissue Engineering & Regenerative Medicine segment held a substantial revenue share in 2019, and the cancer research segment will represent the fastest market growth over the forecast period.

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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 South Korea cell culture market analysis from 2020 to 2027, which is expected to enable stakeholders to capitalize on the prevailing opportunities in the market
  • A comprehensive analysis on country assists to understand the country market and facilitate the 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.
 

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key market segments

1.2.1.List of key players profiled in the report

1.3.Research methodology

1.3.1.Primary research
1.3.2.Secondary research
1.3.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope

3.1.1.Top investment pockets
3.1.2.Top winning strategies

3.2.Porter's five forces analysis
3.3.Market dynamics

3.3.1.Drivers

3.3.1.1.Prevalence of cancer
3.3.1.2.Increase in adoption of cell culture technique
3.3.1.3.Increase in research funding

3.3.2.Restraints

3.3.2.1.High capital investment
3.3.2.2.Lack of infrastructure for cell-based research

3.3.3.Opportunity

3.3.3.1.Expected rise in demand for advanced technologies

3.3.4.Impact analysis

3.4.Market share analysis (South Korea culture media market, 2019)
3.5.Impact analysis of COVID-19 on the cell culture market

CHAPTER 4:SOUTH KOREA CELL CULTURE MARKET, BY PRODUCT

4.1.Overview

4.1.1.Market size and forecast

4.2.Consumables

4.2.1.Market size and forecast

4.2.1.1.Sera

4.2.2.Market size and forecast

4.2.2.1.Media

4.2.3.Market size and forecast

4.2.3.1.Reagents

4.2.4.Market size and forecast

4.2.4.1.Bioreactor accessories

4.2.5.Market size and forecast

4.3.Instruments

4.3.1.Market size and forecast

4.3.1.1.Bioreactors

4.3.2.Market size and forecast

4.3.2.1.Cell culture vessels

4.3.3.Market size and forecast

4.3.3.1.Cell culture storage equipment

4.3.4.Market size and forecast

4.3.4.1.Cell culture supporting instruments

4.3.5.Market size and forecast

CHAPTER 5:SOUTH KOREA CELL CULTURE MARKET, BY APPLICATION

5.1.Overview

5.1.1.Market size and forecast

5.2.Stem cell technology

5.2.1.Market size and forecast

5.3.Cancer research

5.3.1.Market size and forecast

5.4.Drug screening and development

5.4.1.Market size and forecast

5.5.Tissue engineering & regenerative medicine

5.5.1.Market size and forecast

5.6.Others

5.6.1.Market size and forecast

CHAPTER 6:SOUTH KOREA CELL CULTURE MARKET, BY END USER

6.1.Overview

6.1.1.Market size and forecast

6.2.Research institutes

6.2.1.Market size and forecast

6.3.Pharmaceutical & biotechnology companies

6.3.1.Market size and forecast

6.4.Others

6.4.1.Market size and forecast

CHAPTER 7:COMPANY PROFILES

7.1.AVANTOR, INC. (VWR INTERNATIONAL, LLC)

7.1.1.Company overview
7.1.2.Company snapshot
7.1.3.Operating business segments
7.1.4.Product portfolio
7.1.5.Business performance

7.2.BIO-RAD LABORATORIES INC.

7.2.1.Company overview
7.2.2.Company snapshot
7.2.3.Operating business segments
7.2.4.Product portfolio
7.2.5.Business performance
7.2.6.Key strategic moves and developments

7.3.CORNING INCORPORATED

7.3.1.Company overview
7.3.2.Company snapshot
7.3.3.Operating business segments
7.3.4.Product portfolio
7.3.5.Business performance
7.3.6.Key strategic moves and developments

7.4.DANAHER CORPORATION (CYTIVA)

7.4.1.Company overview
7.4.2.Company snapshot
7.4.3.Operating business segments
7.4.4.Product portfolio
7.4.5.Business performance
7.4.6.Key strategic moves and developments

7.5.FUJIFILM HOLDINGS CORPORATION (FUJIFILM IRVINE SCIENTIFIC, INC.)

7.5.1.Company overview
7.5.2.Company snapshot
7.5.3.Operating business segments
7.5.4.Product portfolio
7.5.5.Business performance
7.5.6.Key strategic moves and developments

7.6.MERCK KGAA

7.6.1.Company overview
7.6.2.Company snapshot
7.6.3.Operating business segments
7.6.4.Product portfolio
7.6.5.Business performance
7.6.6.Key strategic moves and developments

7.7.MILTENYI BIOTEC B.V. & CO. KG

7.7.1.Company overview
7.7.2.Company snapshot
7.7.3.Operating business segments
7.7.4.Product portfolio
7.7.5.Key strategic moves and developments

7.8.SARTORIUS AG

7.8.1.Company overview
7.8.2.Company snapshot
7.8.3.Operating business segments
7.8.4.Product portfolio
7.8.5.Business performance
7.8.6.Key strategic moves and developments

7.9.STEMCELL TECHNOLOGIES INC.

7.9.1.Company overview
7.9.2.Company snapshot
7.9.3.Operating business segments
7.9.4.Product portfolio
7.9.5.Key strategic moves and developments

7.10.THERMO FISHER SCIENTIFIC, INC.

7.10.1.Company overview
7.10.2.Company snapshot
7.10.3.Operating business segments
7.10.4.Product portfolio
7.10.5.Business performance
7.10.6.Key strategic moves and developments

LIST OF TABLES

TABLE 01.SOUTH KOREA CELL CULTURE MARKET, BY PRODUCT, 2019-2027 ($MILLION)
TABLE 02.SOUTH KOREA CELL CULTURE MARKET, BY CONSUMABLES, 2019-2027 ($MILLION)
TABLE 03.SOUTH KOREA CELL CULTURE MARKET, BY INSTRUMENTS, 2019-2027 ($MILLION)
TABLE 04.SOUTH KOREA CELL CULTURE MARKET, BY APPLICATION, 2019-2027 ($MILLION)
TABLE 05.SOUTH KOREA CELL CULTURE MARKET, BY END USER, 2019-2027 ($MILLION)
TABLE 06.AVANTOR: COMPANY SNAPSHOT
TABLE 07.AVANTOR: OPERATING SEGMENTS
TABLE 08.AVANTOR: PRODUCT PORTFOLIO
TABLE 09.BIO-RAD: COMPANY SNAPSHOT
TABLE 10.BIO-RAD: OPERATING SEGMENTS
TABLE 11.BIO-RAD: PRODUCT PORTFOLIO
TABLE 12.CORNING: COMPANY SNAPSHOT
TABLE 13.CORNING: OPERATING SEGMENT
TABLE 14.CORNING: PRODUCT PORTFOLIO
TABLE 15.CORNING: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 16.DANAHER: COMPANY SNAPSHOT
TABLE 17.DANAHER: OPERATING SEGMENTS
TABLE 18.DANAHER: PRODUCT PORTFOLIO
TABLE 19.DANAHER CORPORATION: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 20.FUJIFILM: COMPANY SNAPSHOT
TABLE 21.FUJIFILM: OPERATING SEGMENTS
TABLE 22.FUJIFILM: PRODUCT PORTFOLIO
TABLE 23.MERCK: COMPANY SNAPSHOT
TABLE 24.MERCK: OPERATING SEGMENTS
TABLE 25.MERCK: PRODUCT PORTFOLIO
TABLE 26.MERCK: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 27.MILTENYI BIOTEC: COMPANY SNAPSHOT
TABLE 28.MILTENYI BIOTEC: OPERATING SEGMENT
TABLE 29.MILTENYI BIOTEC: PRODUCT PORTFOLIO
TABLE 30.MILTENYI BIOTEC: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 31.SARTORIUS: COMPANY SNAPSHOT
TABLE 32.SARTORIUS: OPERATING BUSINESS SEGMENTS
TABLE 33.SARTORIUS: PRODUCT PORTFOLIO
TABLE 34.SARTORIUS: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 35.STEMCELL: COMPANY SNAPSHOT
TABLE 36.STEMCELL: OPERATING SEGMENT
TABLE 37.STEMCELL: PRODUCT PORTFOLIO
TABLE 38.STEMCELL: KEY STRATEGIC MOVES AND DEVELOPMENTS
TABLE 39.THERMO FISHER: COMPANY SNAPSHOT
TABLE 40.THERMO FISHER.: OPERATING SEGMENTS
TABLE 41.THERMO FISHER.: PRODUCT PORTFOLIO
TABLE 42.THERMO FISHER: KEY STRATEGIC MOVES AND DEVELOPMENTS

LIST OF FIGURES

FIGURE 01.SOUTH KOREA CELL CULTURE MARKET SEGMENTATION
FIGURE 02.TOP INVESTMENT POCKETS
FIGURE 03.TOP WINNING STRATEGIES, BY YEAR, 2018–2021
FIGURE 04.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2018–2021 (%)
FIGURE 05.TOP WINNING STRATEGIES, BY COMPANY, 2018–2021
FIGURE 06.HIGH BARGAINING POWER OF SUPPLIER
FIGURE 07.MODERATE BARGAINING POWER OF BUYERS
FIGURE 08.HIGH THREAT OF SUBSTITUTES
FIGURE 09.MODERATE INTENSITY OF RIVALRY
FIGURE 10.LOW THREAT OF NEW ENTRANT
FIGURE 11.IMPACT ANALYSIS
FIGURE 12.MARKET SHARE ANALYSIS (SOUTH KOREA CULTURE MEDIA MARKET, 2019)
FIGURE 13.SOUTH KOREA CELL CULTURE MARKET FOR SERA, 2019-2027 ($MILLION)
FIGURE 14.SOUTH KOREA CELL CULTURE MARKET FOR MEDIA, 2019-2027 ($MILLION)
FIGURE 15.SOUTH KOREA CELL CULTURE MARKET FOR REAGENTS, 2019-2027 ($MILLION)
FIGURE 16.SOUTH KOREA CELL CULTURE MARKET FOR BIOREACTOR ACCESSORIES, 2019-2027 ($MILLION)
FIGURE 17.SOUTH KOREA CELL CULTURE MARKET FOR BIOREACTORS, 2019-2027 ($MILLION)
FIGURE 18.SOUTH KOREA CELL CULTURE MARKET FOR CELL CULTURE VESSELS, 2019-2027 ($MILLION)
FIGURE 19.SOUTH KOREA CELL CULTURE MARKET FOR CELL CULTURE STORAGE EQUIPMENT, 2019-2027 ($MILLION)
FIGURE 20.SOUTH KOREA CELL CULTURE MARKET FOR CELL CULTURE SUPPORTING INSTRUMENTS, 
2019-2027 ($MILLION)
FIGURE 21.SOUTH KOREA CELL CULTURE MARKET FOR STEM CELL TECHNOLOGY, 2019-2027 ($MILLION)
FIGURE 22.SOUTH KOREA CELL CULTURE MARKET FOR CANCER RESEARCH, 2019-2027 ($MILLION)
FIGURE 23.SOUTH KOREA CELL CULTURE MARKET FOR DRUG SCREENING AND DEVELOPMENT, 2019-2027 ($MILLION)
FIGURE 24.SOUTH KOREA CELL CULTURE MARKET FOR TISSUE ENGINEERING & REGENERATIVE MEDICINE, 2019-2027 ($MILLION)
FIGURE 25.SOUTH KOREA CELL CULTURE MARKET FOR OTHERS, 2019-2027 ($MILLION)
FIGURE 26.SOUTH KOREA CELL CULTURE MARKET FOR RESEARCH INSTITUTES, 2019-2027 ($MILLION)
FIGURE 27.SOUTH KOREA CELL CULTURE MARKET FOR PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES, 2019-2027 ($MILLION)
FIGURE 28.SOUTH KOREA CELL CULTURE MARKET FOR OTHERS, 2019-2027 ($MILLION)
FIGURE 29.AVANTOR: NET SALES, 2017–2019 ($MILLION)
FIGURE 30.AVANTOR: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 31.AVANTOR: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 32.BIO-RAD: NET SALES, 2017–2019 ($MILLION)
FIGURE 33.BIO-RAD: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 34.BIO-RAD: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 35.CORNING: NET SALES, 2017–2019 ($MILLION)
FIGURE 36.CORNING: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 37.CORNING: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 38.DANAHER: NET SALES, 2017–2019 ($MILLION)
FIGURE 39.DANAHER: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 40.DANAHER: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 41.FUJIFILM: NET SALES, 2017–2019 ($MILLION)
FIGURE 42.FUJIFILM: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 43.FUJIFILM: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 44.MERCK: NET SALES, 2017–2019 ($MILLION)
FIGURE 45.MERCK: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 46.MERCK: REVENUE SHARE, BY REGION, 2019 (%)
FIGURE 47.SARTORIUS: NET SALES, 2017–2019 ($MILLION)
FIGURE 48.SARTORIUS: REVENUE SHARE BY SEGMENT, 2019 (%)
FIGURE 49.SARTORIUS: REVENUE SHARE BY REGION, 2019 (%)
FIGURE 50.THERMO FISHER: NET SALES, 2017–2019 ($MILLION)
FIGURE 51.THERMO FISHER: REVENUE SHARE, BY SEGMENT, 2019 (%)
FIGURE 52.THERMO FISHER: REVENUE SHARE, BY REGION, 2019 (%)

 
 

The South Korea cell culture market is expected to showcase profitable growth in the near future. The market growth is characterized by factors such surge in prevalence of cancer and rise in research related to cancer, which involves the use of cell culture technique drive the growth of the South Korea cell culture market. Furthermore, experts of key companies believe that factors such as surge in drug discovery across South Korea, rise in adoption of cell culture technique, and increase in healthcare expenditure fuel the growth of the market.

The other major factors that contribute toward the growth of the market include launch of novel and advanced instruments and consumables in the market coupled with expected rise in demand for advanced cell culture technologies notably. Moreover, the development of specialty growth media and culture techniques that ensure specificity and availability of high-end technology for scaling up cultures are expected to drive the market growth.

 
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FREQUENTLY ASKED QUESTIONS?
Our Report Looks Like This
 

A. A cell culture is defined as the distribution of cells in an artificial environment (in vitro). Furthermore, this artificial environment is composed of all the necessary nutrients such as ideal temperature, gases, pH, and humidity, which are essential for the growth and proliferation of the cells.

A. Cell cultures are used for in vitro assays or to produce biological compounds such as recombinant proteins or antibodies it is also used to develop vaccines and helps in the study of cancer

A. The total value of the South Korea cell culture market was $216.3 million in 2019.

A. The forcast period for the South Korea cell culture market is from 2020 to 2027

A. The market value of the South Korea cell culture market is projected to reach $606.4 million by 2027

A. The base year calculated in the report is 2019.

A. Thermo Fisher Scientific Inc., Merck KGaA, Danaher Corporation (Cytiva), Bio-Rad Laboratories Inc., Sartorius AG, FUJIFILM Holdings Corporation (FUJIFILM Irvine Scientific, Inc.), Corning Incorporated, Avantor, Inc. (VWR International, LLC), Miltenyi Biotec B.V. & Co. KG, and STEMCELL Technologies Inc. held a substantial market postion in 2019.

A. Consumables segment dominates the South Korea market and is anticipated to continue this trend during the forecast period. This is due to the repeated purchase of consumables and increased funding for cell-based research.

A. The major factors contributing towards the growth of the South Korea 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 use of cell culture technique in research and increase in research related funding in South Korea that supoorts the market growth.

A. The CAGR of the South Korea cell culture market is 13.7% from the period 2020 to 2027.

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