The Cell Culture Media Market is expected to reach US$ 2.4 Billion at a CAGR of 7.1% from 2019 to 2029. Tech-driven innovation is the trend that the healthcare vertical would be resting on in the forecast period. With precision medicine being the focal point, extensive research is being carried out in every arm of the healthcare vertical. The status quo is expected to stay unchanged even in the forecast period.
Over the decades, there has been a notable increase in the prevalence of chronic diseases such as cancer all over the world. This is strengthening the focus of pharmaceutical manufacturers all over the world to develop more effective medicine and treatment methods for the same.
Increasing demand for biotechnological and biopharmaceuticals products using various cell culture lines is gaining importance. This increasing demand for cell culture will boost the growth of the cell culture media market over the coming years.
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- Thermo Fisher Scientific Inc.
- Merck KGaA
- GE Healthcare
- Corning Incorporated
- Irvine Scientific
- STEMCELL Technologies Inc.
- PAN Biotech
- MP Biomedicals, LLC
- PromoCell GmbH
- Becton, Dickinson and Company
- Hi-Media Laboratories
As such, the global cell culture media market was valued at US$ 2.4 Bn in 2018, and is expected to witness a healthy CAGR of 7% over the forecast period (2019–2029).
Key Takeaways of Cell Culture Media Market Study
- Serum-free media contributed maximum share to the cell culture media market in 2018, due to high product availability and increasing adoption of the same.
- Cancer research accounted for a prominent share in the global cell culture media market in 2018, attributable to the rising prevalence of cancer and increased cancer research funding.
- The biopharmaceutical companies segment is the most lucrative segment, due to increased usage of cell culture media in biopharmaceutical production.
- Increase in the number of pharmaceutical manufacturers has contributed to the dominance of North America in the global cell culture media market.
- Attributed to growing awareness regarding various diseases such as cancer and its rising prevalence, East Asia is expected to offer notable growth opportunities for the cell culture media market through 2029.
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“Cell culture media not only helps in drug development but also collects extensive data that is valuable for future research. Rising demand for serum-free culture media will offer significant growth opportunities for the cell culture media market in the coming years,” says a PMR analyst.
Trends in Cell Culture Media Technologies
There are many research and pipeline products that have the ability to treat chronic diseases. This is attributed to the current state of technology and more funding by government toward research & development activities. Also, rising awareness about cell culture-based vaccines and increasing demand for biopharmaceutical products will boost the growth of the cell culture media market.
Increasing collaborations between contract manufacturing organizations and key players will surge market growth further. Serum-free cell culture media, among other cell culture media, has the potential to grow at a relatively faster rate over the forecast period.
Monoclonal antibodies have been used as therapeutics against various autoimmune diseases, as the body lacks the function of producing monoclonal antibodies.
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More Valuable Insights on Cell culture media Market
Persistence Market Research offers a unique perspective and actionable insights on the cell culture media market in its latest study, presenting historical demand assessment of 2014–2018 and projections for 2019–2029, on the basis of product (serum containing media, serum-free media, protein-free media, and chemically defined media), application (cancer research, biopharmaceuticals, regenerative medicine & tissue engineering, stem cell technologies, and others), and end user (biopharmaceutical companies, clinical research organizations, and academic research centers), across six regions.
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