New York, USA, Aug. 22, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global culture media market is envisioned to generate a revenue of $5,398.6 million and grow at a CAGR of 7.7% during the forecast period from 2020 to 2027.
As per our analysts, with the growing R&D investment for the innovation of gene and cell-based therapies for the treatment of chronic and incurable diseases, the culture media market is expected to experience exponential growth during the analysis period. Moreover, the increasing technological advancement in the biopharmaceutical sector, easy availability of raw materials, and favorable government policies are the factors expected to fortify the growth of the market over the forecast period. However, the lack of skilled professionals and ethical and scientific concerns may hamper the growth of the market throughout the estimated period.
Request a Comprehensive PDF Sample of the Culture Media Market
Segments of the Culture Media Market
The report has divided the market into segments based on the media type, application, end-use, and region.
Media Type: Prepared Media Sub-Segment to be Most Productive
The prepared media sub-segment is expected to hold the dominant share of the market over the forecast period. This is mainly due to the increasing demand for high-quality media in industrial and clinical microbiology. Moreover, the rising use of automation in clinical and industrial microbiology labs has increased the need for prepared culture media which is predicted to foster the growth of the market sub-segment during the analysis timeframe.
Application: Stem Cell Technology Sub-Segment to be Most Profitable
The stem-cell technology sub-segment is projected to grow at a healthy CAGR of 8.7% over the forecast period. The growing awareness regarding the preservation of embryo cells is predicted to enhance the demand for culture media in stem cell technology which is expected to fuel the growth of the market sub-segment over the analysis period.
End-Use: Biotech & Pharmaceutical Sub-Segment to be Most Beneficial
The biotech & pharmaceutical sub-segment is expected to continue a steady growth during the estimated timeframe. This is mainly due to the growing demand for novel vaccines and drugs all across the globe. Moreover, the increasing demand for advanced therapies and increasing investment by the biotechnology companies in the R&D activities are predicted to uplift the growth of the market sub-segment over the analysis timeframe.
Speak to an Analyst or Schedule a Call to get more Insights on the Culture Media Market
Region: North America Region to Have Huge Growth Opportunities
The North America region of the culture media market is expected to generate the largest share of the market during the forecast period. This is mainly because of the increasing prevalence of incurable diseases among individuals in this region. Moreover, the increasing focus on the innovation and development of biologics by the leading market players of this region is predicted to drive the regional growth of the market during the estimated period.
Covid-19 Impact on the Culture Media Market
The outbreak of the Covid-19 pandemic has badly impacted the growth of the culture media market, likewise in several other industries. The sudden demand for biologics and vaccines to treat novel coronavirus has created trouble for the biopharmaceutical companies to maintain normal functioning. These companies have faced challenges to maintain onsite working personnel. All these factors have declined the growth of the market during the pandemic period. However, the strategic collaboration and acquisitions made by leading market players are expected to increase market share over the analysis period.
Key Players of the Culture Media Market
The major players of the culture media market include
- Fujifilm Holdings Corporation
- Corning Incorporated
- Merck & Co.
- HiMedia Laboratories Private Limited
- Lonza
- Thermo Fisher Scientific Inc.
- CellGenix GmbH
- BD
- Sartorius AG
- BioMÉerieux SA
These players are widely working on the development of new business strategies such as product development, mergers, and acquisitions, partnerships, and collaborations to attain a leading position in the global industry. More about Culture Media Market:
For instance, in June 2022, Avantor, Inc., a leading global provider of mission-critical products and services to customers in biopharma, and healthcare announced its collaboration with GeminiBio, a leading manufacturer and supplier of cell culture media, sera, and other reagents to the scientific community across academic research. With this collaboration, the companies aimed to deliver cell culture media and custom hydrated solutions to the biopharma industry.
Further, the report also presents other important aspects including product portfolio, the financial performance of the key players, SWOT analysis, and the latest strategic development.
Granular research (Benefit of 10%OFF) on Specific Segments or Regions of the Culture Media Market
More about Culture Media Market:
- What are the Different Types of Culture Media used to Support Microbial Growth?
- Geographical Expansion & Product Launches to Upsurge the Growth of Global Culture Media Market
