Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Cell Culture Media Storage Containers Market Size, Share & Trends Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global cell culture media storage containers market size is anticipated to reach USD 4.40 billion by 2030 and is projected to grow at a CAGR of 12.23% from 2023 to 2030.
Increasing R&D efforts, rising demand for biopharmaceuticals, and technical advances in the industry are propelling market expansion. The expansion and growth of the biologics sector will also be a major growth factor for market development.
The COVID-19 pandemic is predicted to have a substantial influence on the cell culture media storage containers industry due to rising vaccine & biologics demand. These are essential in the manufacturing of vaccines and protein-based drugs. The storage bags are widely employed in the creation and testing of vaccine candidates. As a result, the COVID-19 pandemic has had a beneficial impact on the global industry, contributing to its expansion.
One of the key factors is the rising demand for biopharmaceuticals, which has resulted in the widespread adoption of single-use technologies such as single-use storage bottles, bags, bins, and other containers. Disposable products can lower the probability of contamination yet simplify the maintenance and validation process, providing a dependable and cost-effective alternative for biopharmaceutical businesses growing their production capacities.
Furthermore, important factors such as increased research & development spending by biopharmaceutical businesses for novel medicines are likely to have a substantial impact on market growth. According to figures provided by the Organization for Economic Cooperation and Development (OECD) in 2020, the pharmaceutical industry in OECD countries spent over USD 101 billion on research and development. According to the same source, global R&D investment by the largest publicly traded corporations increased by 13.7% year on year. As a result, the biopharmaceutical industry's increased investment in R&D to enhance their product pipelines is likely to drive market expansion in the studied area.
Cell Culture Media Storage Containers Market Report Highlights
- In terms of product, the storage bags segment held the largest revenue share of 41.08% in 2022. The increasing demand and frequent use in the storage of cell culture media and reduced contamination are boosting the segment growth
- Based on application, the biopharmaceutical production segment held the largest market share of 51.11% in 2022. Factors such as increased drug development, product safety and efficacy concerns, demand for biosimilars, and rising demand for improved storage containers are driving the market growth
- In terms of end-use, the pharmaceutical & biotechnology companies segment held the largest market share of 44.32% in 2022. Increasing R&D projects and activities in the biopharmaceutical sector are likely to drive storage container demand
- Based on region, North America held the largest share of 40.45% in 2022, which is attributed to the constant technological improvements followed by new discoveries sparking the adoption of media storage containers. Furthermore, the rising frequency of chronic diseases, as well as the accompanying research activities to produce advanced therapies, is a major factor driving market expansion
Key Attributes
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1.76 Billion |
| Forecasted Market Value (USD) by 2030 | $4.4 Billion |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Global |
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Trends and Outlook
3.3. Market Dynamics
3.3.1. Rapid progress in the areas of biopharmaceuticals, oncology, and stem cell research
3.3.2. Increasing prevalence of chronic diseases
3.4. Market Restraint Analysis
3.4.1. Increased possibility of contamination and waste disposal
3.5. Business Environment Analysis
3.5.1. PESTEL Analysis
3.5.2. Porter's Five Forces Analysis
3.5.3. COVID-19 Impact Analysis
Chapter 4. Product Business Analysis
4.1. Global Cell Culture Media Storage Containers Market: Product Movement Analysis
4.2. Storage Bags
4.3. Storage Bottles
4.4. Storage Bins & Drums
4.5. Other Storage Assemblies
Chapter 5. Application Business Analysis
5.1. Global Cell Culture Media Storage Containers Market: Application Movement Analysis
5.2. Biopharmaceutical Production
5.3. Tissue Engineering and Regenerative Medicine
5.4. Diagnostics
Chapter 6. End-use Business Analysis
6.1. Global Cell Culture Media Storage Containers Market: End-use Movement Analysis
6.2. Pharmaceutical & Biotechnology Companies
6.3. CROs & CMOs
6.4. Academic & Research Institutes
Chapter 7. Regional Business Analysis
7.1. Global Cell Culture Media Storage Containers Market Share By Region, 2022 & 2030
7.2. North America
7.3. Europe
7.4. Asia Pacific
7.5. Latin America
7.6. MEA
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Strategy Mapping
8.3. Company Market/Position Share Analysis, 2022
8.4. Company Profiles/Listing
8.4.1. Thermo Fisher Scientific Inc.
8.4.2. Danaher
8.4.3. Merck KGaA
8.4.4. Sartorius AG
8.4.5. Greiner Bio-One International GmbH
8.4.6. Corning Incorporated
8.4.7. VWR International, LLC
8.4.8. Saint Gobain
8.4.9. Diagnocine
8.4.10. HiMedia Laboratories
For more information about this report visit https://www.researchandmarkets.com/r/qq68h6
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