Pune, India, Dec. 13, 2023 (GLOBE NEWSWIRE) -- The global cell culture media market size was valued at USD 2.43 billion in 2022, and it 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.
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Key Takeaways:
- The life sciences solutions division of Thermo Fisher Inc. brought in $15,631.0 million in revenue.
- Moderna, Inc. announced the opening of a production facility to produce mRNA vaccines in Kenya.
- At the vaccination summit held by the African Union, African nations pledged to develop their vaccine production capacity to cover 60% of their continent's vaccine needs by 2040.
- Gene therapy is now being tested in treating several inherited disorders, including severe combined immune deficiency (SCID), hemophilia, and chronic granulomatous disease.
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 for | 2019 to 2021 |
| No. of Pages | 146 |
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Cell Culture Media Market 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.
Cell Culture Media Market 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
Based on 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 cultural media demand in the development of vaccines and other treatments.
Biotechnology and Pharmaceutical Industry Segment to Hold Dominating Share Owing to Increase in Regulatory Approvals
Based on end users, 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 an 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)
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Cell Culture Media Market 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 a 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
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