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Cell Culture Market Analysis By Product Type(Consumables, Dry Form, Liquid Form, Off-the-Shelf Media, Custom Media, Serum-free Media, Chemically Defined Media, Classical Media, Xeno-free/Animal Component Free, 6 to 24-well Plates, 48-well Plates, 96 to 384-well Plates, Equipment), By Application(Bioproduction, Drug Screening & Development, Cancer Research, Stem Cell Research), By End User(Pharmaceutical & Biotechnology Companies, Academic & Research Institutes) & Forecast 2024-2035

  • PUBLISHED ON
  • 1/12/2023
  • NO OF PAGES
  • 208
  • CATEGORY
  • Healthcare & Life Sciences

In 2021, the market for Cell Culture worldwide was worth $23 billion US dollars. AMR Group projects that the market will reach US$ 62 billion by 2031, growing at a CAGR of 13 percent between 2022 and 2031.

Industry Overview

Cell Culture is the technique of isolating cells from a plant or an animal and growing them in a controlled in vitro environment. However, this artificial environment has the vital nutrients necessary for cell proliferation and growth, which involves the temperature, gases, pH and humidity. Tissues can be mechanically or enzymatically removed of their cells prior to cultivation. The cells that are need to be grown could also be isolated from an established cell line or cell strain.

The cell culture market has various consumables and equipment’s required at different stages of the cell culture technique to understand the basic biochemistry and biology of cells. It works as a model system and can be used for different applications such as cancer research, stem cell research, bio production, diagnostics, and drug screening. The market is driven by factors such as the growth in biopharmaceutical market, growing demand for monoclonal antibodies, increasing prevalence of chronic diseases, increase in research funding, and rising adoption of single-use technologies. In addition, disposal of plastic waste generated from single-use technologies, cell line misidentification, and cross-contamination hamper the growth of this market to a notable extent. Recent developments in gene expression technologies have provided the production of novel vaccines and biopharmaceuticals, thereby increasing the research & development applications of cell culture techniques.

Market Dynamics

The Cell Culture market tends to grow due to the increasing investment in the R&D by the major market players in development of new cell culture product is anticipated to propel the market growth. In 2021, Pall Corporation, a global supplier of separations, filtration, and purification of products announced that Pall Corporation and Cytiva, had jointly invested US$ 400 million in cell culture media. Also, increasing approvals of strategies like acquisition by major players operating in market is expected to fuel growth of the cell culture market. Cell-based research studies helped to understand the cells' responses to any chemical and identify novel components that can be used for people's well-being.

In past years, Cell biology involved extensively in R&D on new therapies of gene therapies and stem cell. The reagents, equipment, and other products related with research and analysis must be of the highest quality and proper condition to provide the most accurate results. The growing need to maintain high-quality standards and comply with guidelines set up by regulatory bodies, the cost of cell biology research has raised considerably. Thus, high cost for the process is a restraining factor in the global cell culture market.

COVID Impact

The COVID-19 pandemic has mildly impacted the Cell Culture Markets major pharmaceutical and biotech companies. As they collaborated to find vaccines and treatment methods during the pandemic as well. The idea behind the collaboration was to make partnerships and evaluate solutions as early as possible during the pandemic period which could not be completely possible with any one organization alone. Joint ventures also took place within universities and companies to speed up the research and production process. Outsourcing of pharmaceutical and biotechnological research to contract research organizations (CROs) also increased during the pandemic. In April 2020, AstraZeneca and Oxford Biomedica plc signed an agreement for the global development and distribution of the University’s potential recombinant adenovirus vaccine, however the development & worldwide manufacturing and distribution of the vaccine was the responsibility of AstraZeneca.

Regional Trend

Geographically, the global Cell Culture market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Globally, North America dominates the Cell Culture market due to high research and development investments, the presence of a well-established scientific infrastructure, significant demand for animal component-free media, and other factors. In 2021, North America had the largest revenue share of 40% across the world. Asia Pacific is anticipated to register a higher due to the increasing healthcare expenditure, growing awareness regarding cell & gene therapies, and a huge potential for clinical research applications available in this region. In addition, the surge in adoption of scientific technologies and therapeutics, like cancer immunotherapies and regenerative medicines are likely to strengthen the industry's growth in the coming future.

Competitive Landscape

Key players operating in the global Cell Culture market are Agilent Technologies, Inc., Avantor, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., BioSpherix, Ltd., Bio-Techne Corporation, Corning Incorporated, Cytiva, Eppendorf SE, FUJIFILM Holdings Corporation, Getinge AB, Greiner Bio-One GmbH, HiMedia Laboratories, Lonza Group Ltd., Merck KGaA, Miltenyi Biotec B.V. & Co. KG, PromoCell GmbH, Sartorius AG, Thermo Fisher Scientific, Inc., and VWR International, LLC among others. Recently, in January 2022, BioIVT introduced its GMP Grade Human AB Serum specialized for gene therapy manufacturing. Top companies in the market are Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., and Becton, Dickinson, & Company can significantly drive the market.

Key USP’s-

In January 2022, Cytiva (Danaher Corporation) collaborated with Nucleus Biologics for the development of custom culture media for cell and gene therapies. Expansion of the existing service offerings is being undertaken by emerging players to increase their market presence.

Market Segmentation

Based upon the Product used in cell culture market is segmented into two major segments Consumables and Equipment in the cell culture process. Further it is categorized according to its process and utilization. Based on application, the cell culture market is segmented into Bioproduction, Drug Screening & Development, Cancer Research and Stem Cell Research. Among the application segments, in 2022, the bioproduction segment is estimated to account for the largest share of the cell culture market. The major factors contributing to the large market share of this segment are the consumption of cell culture products for commercial bioproduction and research. The rising demand for pharma and biopharma products, and the availability of funds used for research activities.

End user segment of cell culture market is further divided into Pharmaceutical & Biotechnology Companies and Academic & Research Institutes. The pharmaceutical & biotechnology companies segment was accounted for the largest share of the cell culture market. Factors driving the large market share of this segment are the high consumption of cell culture products in commercial & research bioproduction and relatively greater purchasing power than other end users.

By Product Type

·         Consumables

o   Media

§  Form

·         Dry Form

·         Liquid Form

§  Type

·         Off-the-Shelf Media

·         Custom Media

§  Source

·         Serum-free Media

·         Chemically Defined Media

·         Classical Media

·         Xeno-free/Animal Component Free

o   Reagents

§  Growth Factors and Cytokines

§  Cryoprotective Reagents

§  Antibiotics/Antimycotics

§  Cell Dissociation Reagents

§  Buffers

§  Balanced Salt Solutions

§  Attachment and Matrix Factors

o   Cells and Cell Lines

o   Sera

§  Fetal Bovine Serum

§  Other Sera Types

o   Cell Culture Vessels

§  Cell Culture Dishes

§  Cell Culture Plates

·         6 to 24-well Plates

·         48-well Plates

·         96 to 384-well Plates

§  Cell Culture Flasks

§  Roller Bottles

·         Equipment

o   Bioreactors

o   Biosafety Cabinets

o   Incubators

o   Cryopreservation Containers

o   Refrigerators and Freezers

o   Sterilizers

o   Microscopes

o   Centrifuges

o   Cell Counters

o   Water Baths

 By Application

·         Bioproduction

o   Monoclonal Antibody Production

o   Therapeutic Protein Production

o   Vaccine Production

o   Cell and Gene therapy

·         Drug Screening & Development

·         Cancer Research

·         Stem Cell Research

By End User

·         Pharmaceutical & Biotechnology Companies

·         Academic & Research Institutes


Global Cell Culture Market: Regional Analysis
The countries covered in the regional analysis of the Global Cell Culture market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

Key Benefits:
• The analysis provides an overview of the factors driving and limiting the growth of the market including trends, structure and others.
• Market estimation for type and geographic segments is derived from the current market scenario and expected market trends.
• Porter’s Five Force Model and SWOT analysis are used to study the global Cell Culture market and would help stakeholders make strategic decisions.
• The analysis assists in understanding the strategies adopted by the companies for the growth of this market.
• In-depth analysis of the types of Cell Culture would help in identifying future applications in this market.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support

Objectives of the Study:
• To provide with an exhaustive analysis on the Cell Culture Market by Product, By Application, By End User and by Region.
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions— North America, Europe, Asia Pacific, Latin America and Middle East and Africa.
• To record and evaluate competitive landscape mapping- product launches, technological advancements, mergers and expansions
Base Year: 2023
Historic Year: 2016-2022
Forecast: 2024-2035

1.       Global Cell Culture Market Introduction and Market Overview

1.1.    Objectives of the Study

1.2.    Global Cell Culture Market Scope and Market Estimation

1.2.1.Global Cell Culture Overall Market Size, Revenue & Volume (US$ Mn & Million Units), Market CAGR (%), Market forecast (2023 - 2032)

1.2.2.Global Cell Culture Market Revenue Share (%) and Growth Rate (Y-o-Y) from 2019 - 2032

1.3.    Market Segmentation

1.3.1.Product Type of Global Cell Culture Market

1.3.2.Application of Global Cell Culture Market

1.3.3.End User of Global Cell Culture Market

1.3.4.Region of Global Cell Culture Market

2.       Executive Summary

3.       Market Factor Analysis

3.1.    Global Cell Culture Market Industry Trends under COVID-19 Outbreak

3.1.1.Global COVID-19 Status Overview

3.1.2.Influence of COVID-19 Outbreak on Global Cell Culture Market Industry Development

3.2.   Market Dynamics, By Region

3.2.1.Drivers

3.2.2.Limitations

3.2.3.Opportunities

3.2.4.Impact Analysis of Drivers and Restraints

3.3.   Ecosystem / Value Chain Analysis

3.3.1.Raw Materials / Component Suppliers

3.3.2.Manufacturers / Vendors

3.3.3.Distributors

3.3.4.Buyers / End-users

3.3.5.Forward Integration & Backward Integration of Key Stakeholders

3.4.   Global Cell Culture Market - Pricing Trends Analysis & Average Selling Prices (ASPs)

3.5.   Analysis of Software and Services used in Cell Culture

3.6.   End-User / Customer Preferences & Consumer Surveys

3.7.   Technology Roadmap & Key Innovations /Developments

3.8.   Key Mandates & Regulatory Scenario Analysis

3.9.   Patents Landscape

3.10.  Import & Export, By Countries (USD Million)

3.11.  Key Mergers & Acquisitions, Expansions, JVs, Funding / VCs, etc.

3.12.  Porter’s Five Forces Analysis

3.12.1.    Bargaining Power of Suppliers

3.12.2.    Bargaining Power of Buyers

3.12.3.    Threat of Substitutes

3.12.4.    Threat of New Entrants

3.12.5.    Competitive Rivalry

3.13.  PEST Analysis

3.13.1.    Political Factors

3.13.2.    Economic Factors

3.13.3.    Social Factors

3.13.4.    Technological Factors

3.14.  SWOT Analysis

3.15.  Russia-Ukraine War Impacts Analysis

3.16.  ANSOFF Matrix

3.16.1.    Market Penetration Strategy

3.16.2.    Product Development Strategy

3.16.3.    Market Development Strategy

3.16.4.    Diversification Strategy

3.17.  Inflation Impacts Analysis

3.17.1.    Supply Side Impacts

3.17.2.    Demand Side Impacts

3.17.3.    Outlook in 2023 & Beyond

3.18.  Market Investment Feasibility Analysis

3.19.  Opportunity Map Analysis

3.20.  Market Investment Opportunity Analysis (Top Investment Pockets), By Segments & By Regions

4.       Global Cell Culture Market Estimates & Historical Trend Analysis (2019 - 2022)

5.       Global Cell Culture Market Estimates & Forecast Trend Analysis, by Product Type

5.1.    Global Cell Culture Market Revenue & Volume (US$ Mn & Million Units) Estimates and Forecasts, by Product Type, 2019 to 2032

5.1.1.Consumables

5.1.1.1.              Media

5.1.1.1.1.                    Form

5.1.1.1.1.1.   Dry Form

5.1.1.1.1.2.   Liquid Form

5.1.1.1.2.                    Type

5.1.1.1.2.1.   Off-the-Shelf Media

5.1.1.1.2.2.   Custom Media

5.1.1.1.3.                    Source

5.1.1.1.3.1.   Serum-free Media

5.1.1.1.3.2.   Chemically Defined Media

5.1.1.1.3.3.   Classical Media

5.1.1.1.3.4.   Xeno-free/Animal Component Free

5.1.1.2.              Reagents

5.1.1.2.1.                    Growth Factors and Cytokines

5.1.1.2.2.                    Cryoprotective Reagents

5.1.1.2.3.                    Antibiotics/Antimycotics

5.1.1.2.4.                    Cell Dissociation Reagents

5.1.1.2.5.                    Buffers

5.1.1.2.6.                    Balanced Salt Solutions

5.1.1.2.7.                    Attachment and Matrix Factors

5.1.1.3.              Cells and Cell Lines

5.1.1.4.              Sera

5.1.1.4.1.                    Fetal Bovine Serum

5.1.1.4.2.                    Other Sera Types

5.1.1.5.              Cell Culture Vessels

5.1.1.5.1.                    Cell Culture Dishes

5.1.1.5.2.                    Cell Culture Plates

5.1.1.5.2.1.   6 to 24-well Plates

5.1.1.5.2.2.   48-well Plates

5.1.1.5.2.3.   96 to 384-well Plates

5.1.1.5.2.4.   Cell Culture Flasks

5.1.1.5.2.5.   Roller Bottles

5.1.1.6.              Equipment

5.1.1.6.1.                    Bioreactors

5.1.1.6.2.                    Biosafety Cabinets

5.1.1.6.3.                    Incubators

5.1.1.6.4.                    Cryopreservation Containers

5.1.1.6.5.                    Refrigerators and Freezers

5.1.1.6.6.                    Sterilizers

5.1.1.6.7.                    Microscopes

5.1.1.6.8.                    Centrifuges

5.1.1.6.9.                    Cell Counters

5.1.1.6.10.                 Water Baths

6.       Global Cell Culture Market Estimates & Forecast Trend Analysis, by Application

6.1.    Global Cell Culture Market Revenue & Volume (US$ Mn & Million Units) Estimates and Forecasts, by Application, 2019 to 2032

6.1.1.Bioproduction

6.1.1.1.              Monoclonal Antibody Production

6.1.1.2.              Therapeutic Protein Production

6.1.1.3.              Vaccine Production

6.1.1.4.              Cell and Gene therapy

6.1.2.Drug Screening & Development

6.1.3.Cancer Research

6.1.4.Stem Cell Research

7.       Global Cell Culture Market Estimates & Forecast Trend Analysis, by End User

7.1.    Global Cell Culture Market Revenue & Volume (US$ Mn & Million Units) Estimates and Forecasts, by End User, 2019 to 2032

7.1.1.Pharmaceutical & Biotechnology Companies

7.1.2.Academic & Research Institutes

8.       Global Cell Culture Market Estimates & Forecast Trend Analysis, by Region

8.1.    Global Cell Culture Market Revenue & Volume (US$ Mn & Million Units) Estimates and Forecasts, by Region, 2019 to 2032

8.1.1.North America

8.1.2.Europe

8.1.3.Asia Pacific

8.1.4.Middle East & Africa

8.1.5.South America

9.       North America Cell Culture Market: Estimates & Forecast Trend Analysis

9.1.    North America Cell Culture Market Assessments & Key Findings

9.1.1.Cell Culture Market Introduction

9.1.2.Cell Culture Market Size & Volume Estimates and Forecast (US$ Million & Million Units) (2019 – 2031)

9.1.2.1.   By Product Type

9.1.2.2.   By Application

9.1.2.3.   By End User

9.1.2.4.   By Country

9.1.2.4.1.     The U.S.

9.1.2.4.2.     Canada

9.1.2.4.3.     Mexico

10.   Europe Cell Culture Market: Estimates & Forecast Trend Analysis

10.1.  Europe Cell Culture Market Assessments & Key Findings

10.1.1.   Cell Culture Market Introduction

10.1.2.   Cell Culture Market Size & Volume Estimates and Forecast (US$ Million & Million Units) (2019 – 2031)

10.1.2.1.    By Product Type

10.1.2.2.    By Application

10.1.2.3.    By End User

10.1.2.4.    By Country

10.1.2.4.1. Germany

10.1.2.4.2. U.K.

10.1.2.4.3. France

10.1.2.4.4. Italy

10.1.2.4.5. Spain

10.1.2.4.6. Russia

10.1.2.4.7. Rest of Europe

11.   Asia Pacific Cell Culture Market: Estimates & Forecast Trend Analysis

11.1.  Asia Pacific Market Assessments & Key Findings

11.1.1.    Cell Culture Market Introduction

11.1.2.    Cell Culture Market Size & Volume Estimates and Forecast (US$ Million & Million Units) (2019 – 2031)

11.1.2.1.    By Product Type

11.1.2.2.    By Application

11.1.2.3.    By End User

11.1.2.4.    By Country

11.1.2.4.1. China

11.1.2.4.2. Japan

11.1.2.4.3. India

11.1.2.4.4. Australia

11.1.2.4.5. South Korea

11.1.2.4.6. ASEAN

11.1.2.4.7. Rest of Asia Pacific

12.   Middle East & Africa Cell Culture Market: Estimates & Forecast Trend Analysis

12.1.  Middle East & Africa Market Assessments & Key Findings

12.1.1.   Cell Culture Market Introduction

12.1.2.   Cell Culture Market Size & Volume Estimates and Forecast (US$ Million & Million Units) (2019 – 2031)

12.1.2.1.    By Product Type

12.1.2.2.    By Application

12.1.2.3.    By End User

12.1.2.4.    By Country

12.1.2.4.1. U.A.E.

12.1.2.4.2. Saudi Arabia

12.1.2.4.3. Egypt

12.1.2.4.4. South Africa

12.1.2.4.5. Rest of Middle East & Africa

13.   South America Cell Culture Market: Estimates & Forecast Trend Analysis

13.1.  South America Market Assessments & Key Findings

13.1.1.   Cell Culture Market Introduction

13.1.2.   Cell Culture Market Size & Volume Estimates and Forecast (US$ Million & Million Units) (2019 – 2031)

13.1.2.1.    By Product Type

13.1.2.2.    By Application

13.1.2.3.    By End User

13.1.2.4.    By Country

13.1.2.4.1. Brazil

13.1.2.4.2. Argentina

13.1.2.4.3. Colombia

13.1.2.4.4. Rest of South America

14.   Competition Landscape

14.1.  Cell Culture Market Competition Index, By Leading Players

14.2.  Cell Culture Market Competition Matrix & Benchmarking, by Leading Players / Innovators / Emerging Players / New Entrants

14.3.  Cell Culture Market Competition White Space Analysis, By Application/ End-user

14.4.  Cell Culture Market Competition Heat Map Analysis, By Product / Services / Solutions

14.5.  Cell Culture Market Competition Regional Intensity Map Analysis, By Geographies Served

14.6.  Cell Culture Market Concentration & Company Market Shares (%) Analysis, 2022

14.7.  Cell Culture Market Competition Quadrant Analysis, By Leading Players / Innovators / Emerging Players / New Entrants

15.   Company Profiles

16.   Agilent Technologies

16.1.1.    Company Overview & Key Stats

16.1.2.    Financial Performance & KPIs

16.1.3.    Product / Service / Solutions Portfolio & Applications / End-uses

16.1.4.    Business Strategy & Recent Developments

* Similar details would be provided for all the players mentioned below 

16.2.      Avantor, Inc.

16.3.      Becton, Dickinson and Company

16.4.      Bio-Rad Laboratories, Inc.

16.5.      BioSpherix, Ltd.

16.6.      Bio-Techne Corporation

16.7.      Corning Incorporated

16.8.      Cytiva, Eppendorf SE

16.9.      FUJIFILM Holdings Corporation

16.10.   Getinge AB

16.11.   Greiner Bio-One GmbH

16.12.   HiMedia Laboratories

16.13.   Lonza Group Ltd.

16.14.   Merck KGaA

16.15.   Miltenyi Biotec B.V. & Co. KG

16.16.   PromoCell GmbH

16.17.   Sartorius AG

16.18.   Thermo Fisher Scientific, Inc.

16.19.   VWR International, LLC

16.20.   Others**

17.   Research Methodology

17.1.  External Sources / Databases

17.2.  Internal Proprietary Database

17.3.  Primary Research

17.4.  Secondary Research

17.5.  Assumptions

17.6.  Limitations

17.7.  Report FAQs

18.   Research Findings & Conclusion 

Quality Assurance Process

  1. We Market Research’s Quality Assurance program strives to deliver superior value to our clients.

We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.

Market Research Process




We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.

To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
  • Project kickoff meeting with client
  • Conduct frequent client communications
  • Form project steering committee
  • Assign a senior SR executive as QA Executive
  • Conduct internal editorial & quality reviews of project deliverables
  • Certify project staff in SR methodologies & standards
  • Monitor client satisfaction
  • Monitor realized value post-project

Case Study- Automotive Sector

One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).

Solution

The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research

The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.

Market Estimates and Forecast

In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.

Case Study- ICT Sector

Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.


Business Solution

An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.


Conclusion

The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.


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