NEWARK, Del, Feb. 03, 2023 (GLOBE NEWSWIRE) -- The cell culture media market size is projected to be valued at US$ 3.3 billion in 2023 and is expected to rise to US$ 6.4 billion by 2033. The sales of cell culture media are expected to expand at a significant CAGR of 7.0% during the forecast period.
The development, production, and research of biopharmaceuticals are all based on the culture media. In biopharmaceutical research, cell culture media are employed at all stages of the drug development process, from discovery to manufacturing.
Biologics are gaining popularity, which has caused the market for culture media to expand significantly because scientists need media to make their work viable. Additionally, the market is expanding due to the rising demand for vaccines against various diseases.
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The global prevalence of chronic diseases is significantly increasing. Lifestyle changes and an aging population are the primary contributors to an increase in the rates of chronic diseases. As a result, the demand for effective chronic disease treatment is driving the adoption of culture media.
Infrastructure growth, technological development, and modernization of the healthcare sector around the world and an increase in diagnostic labs would help the market for cultured media to expand.
The market is anticipated to rise as a result of increased research efforts in areas like cancer, stem cells, biopharmaceuticals, and others, as well as higher spending on research and development.
However, it is also estimated that a shortage of qualified specialists with ethical and scientific concerns may restrain industry expansion. On the other hand, the market for culture media is predicted to see plenty of prospects due to untapped potential in developing countries and innovation in the media.
Key Takeaways from Market Study
- Serum-free media witnessed a significant growth of 6.9% in terms of CAGR rate. The usage of SFM denotes an important tool that enables researchers to carry out specific applications or develop a certain cell type without the need for serum.
- during the forecast period, the category for cancer research is expected to develop at a prominent CAGR of 7.5%. The growth of the cancer research segment is anticipated to be driven by increasing biologics research and development activities and the growing need for vaccine production.
- With a revenue share of more than US$ 1.9 billion in 2023, the United States market holds a strong position in the global market. One of the main factors fuelling the market's expansion is the existence of a sizable number of companies. Since the pharmaceutical business is more research-intensive, there is a great need for cultural media there.
- China is the most profitable region among others growing at an astonishing rate of 9.0% over the analysis period. Due to rising investments in the pharmaceutical and biopharmaceutical industries, China regional market is anticipated to develop at a great rate over the forecast period.
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Competitive Landscape:
To increase their market position, key players in this sector are using a variety of techniques, such as partnerships through mergers and acquisitions, geographic growth, and strategic collaborations. For instance, in July 2021, Sartorius purchased Xell AG, a leader in cell culture, through its subsidiary Sartorius Stedim Biotech. The business creates, manufactures, and sells feed additives and media for cell cultures, primarily for the production of viral vectors used in vaccine and gene therapy production.
Latest Developments:
- Captivate Bio introduced its line of cell culture tools in January 2021 to help in the fight against COVID-19 and other new diseases.
- Chemovator GmbH introduced its first product line, BIOFLOAT, in May 2020. This line consists of surface coatings for cell culture consumables.
Key Players Operating in the Market Include
- Avantor, Inc.
- Thermo Fisher Scientific, Inc.
- Caisson Laboratories Inc.
- Becton Dickinson and Company.
- Lonza Group AG
- Bio-Rad Laboratories, Inc.
- General Electric Company
- Cell Culture Technologies LLC
- Corning Incorporated.
- Fujifilm Holdings Corporation
- Hi Media Laboratories Pvt. Ltd.
- Merck & Co., Inc.
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Key Segments
By Type:
- Serum-free Media
- CHO Media
- HEK 293 Media
- BHK Media
- VERO Cell Media
- Insect Cell Media
- Serum-free Stem Cell Media
- CAR T-cell Media
- Other Serum-free Media
- Classical Media & Salts
- Stem Cell Culture Media
- Specialty Media
- Chemically defined Media
- Other Cell Culture Media
By Application:
- Biopharmaceutical Production
- Monoclonal antibodies
- Vaccines production
- Other therapeutic proteins
- Diagnostics
- Drug Screening & Development
- Tissue Engineering & Regenerative Medicine
- Cell and gene therapy
- Other tissue engineering & regenerative medicine applications
- Other Application
By End User:
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Laboratories
- Research & Academic Institutes
- Others
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
Table of Content
1. Executive Summary | cell culture media market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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