Portland, OR, Sept. 07, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Culture Media Market was estimated at $5.49 billion in 2020 and is expected to hit $13.48 billion by 2030, registering a CAGR of 9.5% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in R&D investments, surge in advancements associated with cell culture media, and high demand for cell culture media drive the growth of the global culture media market. On the other hand, lack of skilled professionals and scientific concerns associated with culture media restrain the growth to some extent. However, the untapped potential in the emerging economies has been highly beneficial to the industry.
COVID-19 scenario-
- Researchers have now started introducing culture-based vaccines, and with the mass inoculation drive on board in the majority of countries, the global culture media market has been impacted positively.
- This trend is most likely to persist until the pandemic is completely over.
The global culture media market is analyzed across type, application, research type, and region. Based on product type, the chemically defined media segment accounted for the major share in 2020, holding more than one-fifth of the global culture media market. The stem cell media segment, on the other hand, would grow at the fastest CAGR of 10.4% throughout the forecast period.
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Based on application, the cancer research segment generated the highest share in 2020, accounting for nearly one-third of the global market. At the same time, the regenerative medicine and tissue engineering segment is projected to manifest the fastest CAGR of 10.2% from 2021 to 2030 .
Based on region, the market across North America held the lion’s share in 2020, garnering more than two-fifths of the global market. The Asia-Pacific region, however, is expected to cite the fastest CAGR of 10.1% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the Global Culture Media Market report include:
- Avantor Performance Materials
- LLC (VWR International, LLC)
- Becton
- Dickinson and Company (BD)
- Bio-Rad Laboratories Inc. (Bio-Rad)
- Fujifilm Holdings Corporation (Fujifilm)
- Merck & Co., Inc. (Merck)
- Corning Incorporated (Corning)
- GE Healthcare
- HiMedia Laboratories Pvt., Ltd (HiMedia)
- Lonza Group Ltd. (Lonza)
These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
