New York, USA, Feb. 14, 2023 (GLOBE NEWSWIRE) --
According to the newly published Research Dive report, the global culture media market is anticipated to rise at a stable CAGR of 7.9%, thereby garnering a revenue of $5,736.5 million in the 2022-2031 timeframe. This comprehensive Research Dive report presents a brief outlook of the current framework of the culture media market including its priority features like growth drivers, growth opportunities, restraints, and hindrances during the forecast timeframe of 2022-2031. The report also contains all the crucial market figures to help new entrants understand the market easily.
Dynamics of the Market
Drivers: In the recent years, there has been a growth in the demand for cell culture which is expected to become the primary growth driver of the culture media market in the forecast period. A rise in investment in the development of a novel therapeutic drug for the treatment of cancer is anticipated to push the market forward.
Opportunities: An increase in R&D investments for innovations in life sciences is predicted to offer numerous growth opportunities for the market in the forecast period. Moreover, global biopharmaceutical and pharmaceutical R&D spending in emerging economies is expected to help the market register substantial growth in the coming period.
Restraints: However, according to market analysts, lack of skilled professionals might become a restraint in the growth of the culture media market.
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Impact of Covid-19 on the Market
The Covid-19 pandemic disrupted the routine lifestyle of people across the globe and the subsequent lockdowns adversely impacted the industrial processes across all sectors. The culture media market, however, was moderately impacted by the pandemic. Many of the private research laboratories, companies, and institutes had to shut down due to the government-ordered lockdowns which declined the growth rate of the market. However, increase in the use of cell culture during vaccine development helped the market to grow during the pandemic period.
Segments of the Market
The Research Dive report has fragmented the culture media market across different segments such as media type, type of customer, lab size, end user, and region.
Media Type: Dehydrated Culture Media Sub-segment to Grow Significantly
By media type, the dehydrated culture media sub-segment is expected to be highly dominant by 2031. Dehydrated culture media is widely used by microbiology laboratories due to benefits such as long shelf life, convenience, and cost-effectiveness. This increasing utilization is ultimately anticipated to help in the growth of this sub-segment.
Type of Customer: Private Sub-segment to be the Most Lucrative
By type of customer, the private sub-segment is predicted to have the fastest growth rate by 2031. Growing active participation by private organizations in research-oriented projects like studying cell morphology and stem cell proliferation is predicted to boost the growth of this sub-segment.
Lab Size: Medium Lab Sub-segment to Have the Highest CAGR
By lab size, the medium sub-segment is expected to have the highest growth rate by 2031. Increasing number of medium-sized pharmaceutical manufacturing unit labs and food processing manufacturing unit labs across the globe is projected to aid in the growth of this sub-segment.
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End User: Clinical Microbiology Labs Sub-segment to be the Most Profitable
By end user, the clinical microbiology labs sub-segment is predicted to be the most lucrative by 2031. The critical role played by clinical microbiology labs in determining the interaction between microorganisms and the necessary treatment to cure a disease is predicted to boost the growth of this sub-segment.
Market in the North America Region to Flourish Immensely
By regional analysis, the culture media market in North America region is anticipated to garner significant market share by 2031. Rise in investments in cell-based research and growing prevalence of cancer are predicted to be the two main growth drivers of the market.
Prominent Market Players
Some prominent players in the culture media market are
- BD
- Fujifilm Holdings Corporation
- Lonza
- BioMérieux SA
- Merck & Co., Inc.
- CellGenix GmbH
- Thermo Fisher Scientific Inc.
- Corning Incorporated
- Sartorius AG
- HImedia Laboratories Private Limited
These players are introducing and coming up with new technological advancements and innovations to gain a primacy in the market.
For instance, in August 2021, Sartorius AG, a leading laboratory instruments manufacturing company, announced that it was acquiring Xell AG, a German cell culture specialist. This acquisition is predicted to increase the footprint of the acquiring company, i.e., Sartorius substantially in the coming period.
Finally, this comprehensive report also summarizes many crucial facets of the global market including product portfolio, latest strategic developments, financial performance of the key players, and SWOT analysis.
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More about Culture Media Market:
- What are the Various Characteristics and Uses of Culture Media?
- Culture Media Market to Observe Significant Growth by 2031 Due to Company Acquisitions and Business Expansion by Market Players, such as Thermo Fisher Scientific, Sartorius AG, and Others
