The cell culture media market is rising in the biotechnological sector due to its increasing use in the growth of cells, cell lines, and microorganisms. A new report on the global cell culture media market, published by Market Research Future (MRFR), anticipates that this market could get hold of progress at 6.9% CAGR between 2017 and 2023. In terms of value, the market can be worth USD 2,070.71 Mn by the end of the forecast period.
The significant market drivers for the global cell culture media market growth is the requirement for the additional supplementary reagents and sera that include growth factors, hormones, lipids, minerals, and trace elements. Other market drivers include growing pharmaceutical industry, increasing geriatric population, increasing prevalence of cancer & infectious diseases, and rising biopharmaceutical drugs in the pipeline. However, the factors that can impede the market growth include the contamination of media and cost of cell culture media.
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Market Segmentation
The global cell culture media market segmentation encompasses application, end-user, and product type. MRFR’s take on the market explores various facets of the market in-depth.
The application-based segmentation of this market covers biopharmaceutical, cancer research, cytogenetic, drug discovery & drug development, gene therapy, stem cell research, tissue-culture & manufacturing, and others. Drug discovery & drug development segment holds 23.8% of the market share.
Regarding end-user, the market has been segmented into academic & research laboratories, biopharmaceutical companies, hospitals & diagnostics centers, pathology labs, and others. Biopharmaceutical companies segment holds the largest market share.
Based on the product type, the market has been segmented into media, reagents, and sera. The media segment has been sub-segmented into chemically defined media, classical media, custom media, lysogeny broth, protein-free media, serum-free media, stem cell media, and others. The stem cell media has been further segmented into bone marrow, embryonic stem cells (ESCs), mesenchymal stem cells (MSCs), and neural stem cells (NSCs).
Regional Segmentation
A geographical outlining of the global cell culture media market covers The Americas (North America & Latin America), Europe, Asia Pacific, and the Middle East & Africa (MEA).
The Americas segment has the biggest regional market as North America alone anyways holds the potential of becoming the largest regional market. Adding Latin America to this segment guarantees the position of this segment to be the largest regional market. Due to the availability of progressive medical facilities, North America is a bigger market segment than Latin America. The Americas segment is the largest regional market due to superlative infrastructure, considerable patient pool, and high disposable income. Other factors contributing to the market growth in this region include increasing the prevalence of ailments, increasing awareness among the population, subsequent growing demand for drugs and other medications, presence of major manufacturers, technological brilliance & advancement in the preclinical segment & clinical segment of medical sector, and eagerness to integrate the latest developments in practice. In North America, the USA and Canada are the backbones of the market in this region. A sizable contribution to the market also comes from Latin America.
Europe is the second-largest regional market due to the increasing number of pharmaceutical manufacturers, high disposable income, surging healthcare spending, improving economies, and rising number of government initiatives as well as investment to promote research for finding a cure to the increasing number of chronic ailments. Due to the reasons that are same as The Americas, Western Europe is a bigger market segment compared to Eastern Europe. In Western Europe, the important country-specific markets are France, Germany, Italy, Spain, and the UK.
The Asia Pacific region is the third-largest regional market due to developing healthcare infrastructure, low labor cost, low manufacturing cost, the presence of many research organizations, and increased investments by the American and European market giants in Asian countries like China and India. Australia holds 10.7% of the market share. Other big-league country-specific markets in this region are Japan and South Korea. An analysis of the remaining countries in the Asia Pacific region featured in this report estimates the huge contribution to market revenue from some other countries.
MEA region is a small regional market due to meager income and less economic developments. However, during the forecast period, the cell culture media market in this region is expected to grow due to the demand for better healthcare facilities in the countries of this region, increasing awareness among people, and the rising disposable income.
Key Players
Prominent players in the global cell culture media market include Bio-Rad Laboratories Inc. (USA), Becton Dickinson and Company (USA), Corning Incorporated (USA), Fujifilm Holdings Corporation (Japan), GE Healthcare (USA), HiMedia Laboratories (India), Lonza (Switzerland), Merck KGaA (Germany), PromoCell (Germany), The Sartorius Group (Germany), Sera Scandia A/S (Denmark), and Thermo Fisher Scientific Inc. (USA).
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