Cell Culture Media Market 2022
The primary purpose of the statistical analysis is to use data analysis and descriptive statistics. It helps to summarize data from a sample using indexes like mean or standard deviation and inferential statistics. This report includes information and statistics on price levels, location of the product, and demand for the product. The best thing about the statistical analysis report is that it allows businesses to make decisions in terms of consumer preferences and purchasing power. Moreover, it provides demographic information like the number of potential customers in a geographical area, income level, consumer preferences, and much more. With the help of Cell Culture Media Market statistical analysis, the market could get crucial information on how the collected data and samples will be analyzed.
The global cell culture media market was worth US$ 2.6 Bn in 2020, and is set to expand more than 2X over the next ten years. The market is expected to reach a valuation of US$ 5.6 Bn by the end of 2031, with sales revenue expected to register a CAGR of 7.1%.Increasing collaborations between contract manufacturing organizations, growing biopharmaceutical production, and presence of key players are major trends across the globe.
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According to a recent study by Persistence Market Research, the global cell culture media market is anticipated to witness high growth over the coming years. The market is predicted to grow from US$ 2.6 Bn in 2020 to over US$ 5.6 Bn by 2031. This reveals a CAGR of around 7.1% for the forecast period (2021-2031).
Demand for cell culture media is increasing with rising production of biopharmaceuticals. Biopharmaceutical drugs are structurally similar to human compounds. This similarity in structure gives biopharmaceuticals the ability to cure diseases rather than only treat the symptoms. Also, biopharmaceuticals have fewer side effects because of their specificity, unlike conventional drugs that affect multiple systems. Biopharma is helping doctors in treating various diseases such as diabetes and cancer, because it allows clinicians to give specialized treatment to the specific medical problems of each patient.
With increasing demand for regenerative medicines, sale of cell culture media also increases. It is because regenerative medicine is that branch of medicine that develops methods to regrow, heal or replace injured or unhealthy cells, organs, and tissues.
Company Profiles:
Thermo Fisher Scientific Inc., Merck KGaA, GE Healthcare, Lonza, Corning Incorporated, Irvine Scientific, STEMCELL Technologies Inc, PAN Biotech, MP Biomedicals, LLC, PromoCell GmbH, Becton, Dickinson and Company, Hi-Media Laboratories
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Key Takeaways from Market Study
- By product, serum-free media holds a high share of 51.4% in 2021. Serum-free media is mainly used due to minimum risk of contamination.
- By application, cancer research of cell culture media accounts for 43.7% market share.
- By end user, biopharmaceutical companies account for 83.3% market share, indicating rising demand for stem cells and tissue engineering.
- By region, North America holds the largest share of 32.6% of the global cell culture media market.
“Increasing production of antibodies for treatment of diseases and rising prevalence of cancer are expected to drive demand of cell culture media over the decade,” says a Persistence Market Research analyst.
Who is Winning?
Some of the chief manufacturers of cell culture media are focusing on product launches, collaborations, and acquisitions for global expansion objectives, thereby enhancing their market presence.
- In March 2021, PromoCell launched the improved 3rd generation melanocyte cell culture portfolio.
- In May 2018, MP Biomedicals announced that it gained approval from the General Administration of Quality Supervision, Inspection and Quarantine of the People’s Republic of China (AQSIQ), to export bovine blood products to China.
- In 2019, PAN Biotech announced its plan of expansion for export of fetal bovine serum globally.
Key market players covered in this research include GE Healthcare, Thermo Fisher Scientific, Merck KGaA, Lonza, Corning Incorporated, Irvine Scientific, STEMCELL Technologies Inc., and PAN Biotech.
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Persistence Market Research brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global cell culture media Market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
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