Pune, India, July 25, 2023 (GLOBE NEWSWIRE) -- The global cell culture media market size was valued at USD 2.43 billion in 2022. The market is anticipated to surge from USD 2.56 billion in 2023 to USD 5.60 billion by 2030, exhibiting a CAGR of 11.8% over the study period. The expansion is driven by an increase in expenditure by pharmaceutical companies for conducting R&D initiatives.
Fortune Business Insights™ provides this information in its research report, titled “Cell Culture Media Market, 2023-2030”.
Key Industry Development:
June 2021 – Corning Incorporated rolled out HepGo Assay-ready 3D liver spheroid kit. The solution enables customers to deploy 3D PHH liver spheroids for a range of applications, including hepatotoxicity assays.
Request a Free Sample PDF: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/cell-culture-media-market-103333
Key Takeaways:
- The revenue for Thermo Fisher Inc.'s life sciences solutions sector was $15,631.0 million.
- The establishment of a manufacturing plant in Kenya to create mRNA vaccines was announced by Moderna, Inc.
- African countries committed to building their own vaccine production capacity that can meet 60% of their continent's vaccine demands by 2040 at the African Union vaccination summit.
- Hemophilia, chronic granulomatous disorder, and severe combined immune deficiency (SCID), among other hereditary diseases, are currently being treated experimentally with gene therapy.
Discover the Leading Players Featured in the Report:
Fujifilm Irvine Scientific (U.S.), Thermo Fisher Scientific Inc. (U.S.), BD (Becton, Dickinson and Company) (U.S.), Merck KGaA (Germany), Sartorius AG (Germany), Corning Incorporated (U.S.), PromoCell GmbH (Germany), Lonza (Switzerland), Danaher (U.S.)
Report Scope
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 11.8% |
| 2030 Value Projection | USD 5.60 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 2.56 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 146 |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/cell-culture-media-market-103333
Drivers and Restraints:
Market Value to Rise Owing to Increasing Vaccine Production at the Global Level
The cell culture media market growth is being impelled by the escalating production of vaccines at the global level, especially during the COVID-19 pandemic. Cell cultures have proven to be the most appropriate hosts for propagating various viruses, impelling industry expansion.
However, the market growth may be hampered by the lack of highly skilled professionals and infrastructure in emerging economies.
Segments:
Classical Media Segment to Register Notable Surge Impelled by Increase in Genetic Engineering
By type, the market is segmented into specialty media, classical media, serum free media, and others. The classical media segment accounted for the largest share of the market. The expansion is propelled by escalating research expenditure for biopharmaceutical and biotechnology products.
Drug Screening and Development Segment to Lead Driven by Growing Adoption of Cell-based Array
On the basis of application, the market for cell culture media is fragmented into research, drug screening and development, and others. The drug screening and development segment held a dominating position in the market and is expected to record substantial expansion throughout the forecast period. The surge is propelled by the rising culture media demand in the development of vaccines and other therapeutic treatments.
Quick Buy - Cell Culture Media Market Research Report: https://www.fortunebusinessinsights.com/compare-plan/103333
Biotechnology and Pharmaceutical Industry Segment to Hold Dominating Share Owing to Increase in Regulatory Approvals
On the basis of end user, the market is subdivided into academic & research laboratories, biotechnology and pharmaceutical industries, and others. The biotechnology and pharmaceutical industries segment held a dominating share in the market owing to a range of factors such as increase in the deployment of cell culture consumables in research activities.
Based on geography, the market for cell culture media has been analyzed across Europe, North America, Asia Pacific, and the rest of the world.
By Type
- Classical Media
- Specialty Media
- Serum Free Media
- Others
By Application
- Drug Screening and Development
- Research
- Others
By End User
- Biotechnology and Pharmaceutical Industries
- Academic & Research Laboratories
- Others
By Region
- North America (By Type, By Application, By End User, By Country)
- Europe (By Type, By Application, By End User, By Country/Sub-region)
- Asia Pacific (By Type, By Application, By End User, By Country/Sub-region)
- Rest of the World (By Type, By Application, By End User, By Country/Sub-region)
Regional Insights:
North America to Emerge as a Leading Region Driven by Rising R&D Spending
The North America cell culture media market share is anticipated to gain notable traction over the projected period. The expansion is on account of the growing expenditure on R&D activities in the region.
The Europe market is slated to record notable upsurge over the analysis period. The expansion is driven by the increasing demand for viral vectors for gene therapy in the region.
Competitive Landscape:
Companies Focus on Mergers and Acquisitions to Strengthen Industry Foothold
Major industry players focus on the adoption of various strategies for establishing strong market footings. These include the launch of new products, acquisitions, merger agreements, and others. Some of the other steps comprise a surge in research activities and the formation of alliances.
FAQ’s
How big is the Cell Culture Media Market?
Cell Culture Media Market size was USD 2.56 Billion in 2023.
How fast is the Cell Culture Media Market growing?
The Cell Culture Media Market will exhibit a CAGR of 11.8% during the forecast period, 2023-2030
Related Reports:
Biopharmaceutical CMO Market Share, Size, Trends and Forecast 2021-2028
Bioprocess Technology Market Size, Share, Trends, Growth | Global Forecast Report 2030
Laboratory Supplies Market Size, Share, Trends, Growth 2023-2030
Gene Therapy Market Global Forecast Report 2030
About Us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in. Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
Contact Us:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower, Baner - Mahalunge Road,
Baner, Pune-411045,
Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
