Westford, USA, April 10, 2023 (GLOBE NEWSWIRE) -- The market for Cell Culture Media is projected to grow at a CAGR of 13.2% during the forecast period (2022-2030) and is expected to reach USD 14.96 billion by 2030. The market growth is fueled by a rise in demand for biopharmaceuticals, increasing investments in research and development, technological advancements, a growing awareness of cell-based therapy, and an increasing demand for personalized medicine. SkyQuest reports that the global biopharmaceutical market is expected to grow at a CAGR of 9.7% and reach USD 485 billion by 2025. Additionally, 68% of experts attribute the rising adoption of cell-based assays in drug discovery and research as a driver for the cell culture media market.
SkyQuest's latest research findings suggest that the global monoclonal antibodies market is anticipated to grow at a CAGR of 13.5% and reach USD 262.5 billion by 2027, mainly due to the increasing demand for biopharmaceuticals and the development of advanced technologies for cell culture. Finally, reports indicate that 45% of experts consider the increasing demand for biologics and biosimilars as the primary driver for the cell culture media market.
Browse in-depth TOC on "Cell Culture Media Market.”
- Pages - 213
- Tables - 168
- Figures - 76
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The significance of the cell culture media market lies in its provision of essential nutrients, growth factors, and other components crucial for cell growth and maintenance in diverse applications, including drug discovery, biopharmaceutical production, and tissue engineering. Rising biopharmaceutical demands and the emergence of advanced cell culture technologies spur this market's expansion.
Prominent Players in Cell Culture Media Market
- Thermo Fisher Scientific
- Merck KGaA (MilliporeSigma)
- GE Healthcare
- Lonza Group
- Corning Incorporated
- BD Biosciences
- HiMedia Laboratories
- Irvine Scientific
- Takara Bio Inc.
- PromoCell GmbH
- CellGenix GmbH
- Serum Institute of India
- Sartorius AG
- Fujifilm Holdings Corporation
- Essen BioScience
- InVitria
- Biowest SAS
- Bio-Techne Corporation
- Agilent Technologies
- American Type Culture Collection (ATCC)
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Biopharmaceutical Production Segment to Drive Higher Sales due to the Rising demand for Biologics and Biosimilar, Single-use Technology, Regulatory Approvals
A recent analysis indicates that the Biopharmaceutical Production segment significantly contributed to the rapid development of the Cell Culture Media market in 2021, and this trend is expected to continue from 2022 to 2030. The demand for biologics and biosimilars, Single-use technology, and regulatory approvals drive this trend. The productivity of biopharmaceutical production has increased due to the use of advanced cell cultures technologies, such as perfusion and fed-batch processes. The Biotechnology Innovation Organization reports that over the past few decades, technological advancements have increased biopharmaceutical production's average yields by more than 100-fold. Additionally, according to SkyQuest reports, 94.7% of biopharmaceutical manufacturers are investing in advanced cell culture technologies to enhance productivity and reduce costs. The survey notes that the use of these technologies has led to a reduction in production costs by up to 30%.
According to research analysis, North America is expected to become a dominant player in the Cell Culture Media market from 2022 to 2030, with a projected growth rate of 9.82% during the forecast period, as reported by SkyQuest. The presence of many biopharmaceutical companies, well-established research infrastructure, and increasing demand for personalized medicine in the region drives this expansion. Recently, Catalent announced the expansion of its cell and gene therapy manufacturing facility in Maryland, which includes producing cell culture media and other critical raw materials, further contributing to the market growth in North America.
Reagents and Media Product Segment to Exhibit Strong Growth Due to Demand for Lightweight and Advanced Wheels and Brakes Systems
The Reagents and Media Product segment has emerged as the dominant method in the Cell Culture Media market in 2021 and is expected to retain its lead from 2022 to 2030, driven by the increasing demand for biologics and biosimilars, the growth of the biopharmaceutical industry, and the development of advanced cell culture technologies. SkyQuest reports that the reagents and media product segment also benefits from the growing demand for automation and high-throughput screening in drug discovery. The global high-throughput screening market is expected to grow at a CAGR of 7.8% during the forecast period due to the increasing demand for automated systems and the development of novel screening technologies.
The Asia Pacific region has emerged as a significant force in the Cell Culture Media market and is expected to retain its leading position by 2030, as forecasted by SkyQuest, with a projected CAGR of 12.97% during the forecast period. This expansion can be attributed to the growing number of pharmaceutical companies and increasing investment in regional research and development.
A comprehensive analysis of the major players in the Cell Culture Media market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in Cell Culture Media Market
- Ajinomoto Co., Inc. has announced a collaboration with JSR Corporation to expand its biopharmaceutical culture media business globally. Under this collaboration, Ajinomoto Co. will add new high-performance media developed by JSR to its product lineup, with sales scheduled to start in December 2022. Ajinomoto Genexine Corporation, a subsidiary of Ajinomoto Co., will be responsible for implementing this collaboration.
- Asymmetrex®, a stem cell biotechnology company, has launched a campaign to introduce its new online calculators for counting therapeutic tissue stem cells to cell culture core facilities at top research universities. As part of this campaign, Asymmetrex® President and CEO, James L. Sherley M.D., Ph.D. will introduce the calculators to the Cell Culture Core Facility users at UMass Amherst on September 20. Research core facilities, comprising directors and technical staff, play a significant role in advancing the quality of biomedical research in the US.
Key Questions Answered in Cell Culture Media Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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