Newark, New Castle, USA, June 16, 2023 (GLOBE NEWSWIRE) -- Growth Plus Reports estimated the size of the global market for serum-free media in 2022 to be worth US$ 1.5 billion, and it is expected that it will increase at a revenue CAGR of 7.5% to reach US$ 3.7 billion by 2031.
The global market for serum-free media was analyzed and is expected to rise significantly in terms of revenue share during the forecast period. Serum-free media is made to grow cell types or carry out applications without serum. An essential method for doing cell culture under specified conditions that are as free of confounding variables as is practical is the use of serum-free media (SFM).
Key Takeaways:
- The increasing number of patients with chronic disease is driving the market revenue share.
- Significant R&D for recombinant proteins is driving the market demand.
- Gibco serum-free medium, by Thermo Fisher Scientific, providing enhanced cell growth and viability.
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Serum-free Media Market Scope
| Report Attribute | Details |
| Market Size Value in 2022 | US$ 1.5 billion |
| Revenue Forecast in 2031 | US$ 3.7 billion |
| CAGR | 7.5% |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023 to 2031 |
| Historical Year | 2021 |
| Segments Covered | Media Type, End User, and Region |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Recent Development in the Serum-free Media Market:
- In January 2023, The Singapore Food Agency (SFA) gave GOOD Meat, the cultivated meat division of Eat Just, Inc., a brand-new regulatory certification that is the first in the entire globe for employing the serum-free medium in the manufacture of cultivated meat. Increased scalability, lower production costs, and a more sustainable product will be the outcomes of this technological and regulatory accomplishment.
Competitive Landscape
A list of the prominent players operating in the global market for serum-free media includes:
- Thermo Fisher Scientific, Inc.
- Sigma Aldrich
- HiMedia Laboratories
- Merck KGaA
- Lonza Group AG
Market Drivers and Restraints:
The global serum-free media market revenue is driven by increasing demand for cell-based assays in drug discovery, toxicity testing, and other applications, the need for a defined and controlled environment for cell culture, and growing awareness of lacrimal gland and tear duct disorders. Furthermore, the development of advanced technologies, such as microfluidics and bioreactors, has significantly improved the efficiency and scalability of serum-free media production.
Market Segmentation:
Segmentation By Media Type
Based on the media type, the CHO cell media segment dominates the global serum-free media market with the largest revenue share. This large revenue share is attributed to CHO cells having become the benchmark for producing antibodies due to their capacity to produce complex proteins that are equivalent to those found in humans.
Segmentation By End User
Based on end-user, the biopharmaceutical industry segment accounts for the highest revenue share in the global serum-free media market due to increased output, the prevalence of infectious and chronic diseases, and the demand for novel therapeutic treatments.
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Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global serum-free media market. This large revenue share is attributed to numerous biopharmaceutical companies nearby, funding for cell and stem cell-based product research, lots of CROS, and a sound hospital infrastructure. The nation's rising use of serum-free media culture to develop vaccines for chronic illnesses and a rise in demand for a variety of recombinant proteins are two more factors that have contributed to the sector's revenue growth.
Report Coverage
Growth Plus Reports analyzed the global market for serum-free media in-depth. We studied the fundamental market characteristics, significant investment sectors, regional growth analytics, revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL SERUM-FREE MEDIA MARKET - ANALYSIS & FORECAST, BY MEDIA TYPE
- CHO Cell Media
- Protein Expression Media
- Immunology Media
- Insect Cell Media
- Hybridoma Media
- Stem Cell Media
- Chemically defined Media
- GLOBAL SERUM-FREE MEDIA MARKET - ANALYSIS & FORECAST, BY END USER
- Biopharma Industry
- Clinical Research Organizations
- Others
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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