NEW YORK--(BUSINESS WIRE)--Persistence Market Research has recently released a research document titled “Global Market Study on Cell and Tissue Culture Supplies: Asia to Witness Highest Growth by 2020”. According to the report, the global cell and tissue culture supplies market held a total worth of US$16.3 Billion in 2014. After growing at a CAGR of 9.5% from 2014 to 2020, the market shall be valued at US$28 Billion in 2020. The shifting nature of trends in the global cell and tissue culture supplies market is causing it to grow at a favorable rate. These trends include a rise in the number of contract-based research studies and the growing awareness, acceptance, and popularity of customized, specialty, and serum-free solutions.
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The global cell and tissue culture supplies market is experiencing strong growth due to an increased demand for artificial organs and bio-pharmaceuticals. Expanding research avenues and growing public awareness of the use of cell and tissue cultures in plausible treatment of chronic diseases are also the reasons for growth that are explained in the report. Factors that could possibly hamper the growth of the global cell and tissue culture supplies market include the highly complex nature of techniques involved, the stringent control over the issuance of accreditations and licenses, and the currently high price of such treatment methods.
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Another factor that could act as a hindrance to the global cell and tissue culture supplies market is the growing number of ethical questions that arise due to its techniques. Geographically speaking, the largest market for the global cell and tissue culture supplies market is North America. It holds the most extensive and resource-heavy research studies in the field. This regional segment alone is expected to garner US$14 Billion by 2020.
Some of the major players in the e-cell and tissue culture supplies market are Thermo Fisher Scientific, Inc., BD Diagnostics, EMD Millipore, Corning, Inc., and Lonza Group.
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