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Global Cell Culture Media Market worth 2.3 Billion USD by 2023
Posted On: Dec 2023
The global market for cell culture media is expected to witness a healthy CAGR of 6.2% from 2017 to 2023. The market is anticipated to rise from US$1.5 Billion in 2016 to a valuation of US$ 2.3 Billion by the end of 2023.
Growing importance of cell culture technologies in research and development of essential biomolecules and therapeutics is the main factor which is influencing the growth of cell culture media market across the world. The growth of the cell culture media market is driven by rising scope of cell culture in contract research, stem cell research, artificial organ harvesting, and biopharmaceuticals, along with a shift towards specialty, serum-free and custom media solutions. However, factors such as stringent regulatory environment need for advanced infrastructure and technologies for manufacturing advanced products, barriers to use of transgenic plants and animals and ethical concerns over the use of animal-derived produces may hold back the growth of this market.
The report categorizes the global cell culture media market into type, application, and geography. Based on the type, the global cell culture media market has been segmented into Classical Media, Lysogeny Broth, Protein-Free Media, Speciality Media, Serum-Free Media And Chemically-Defined Media. By application, the global cell culture media market has been segmented into Drug Screening and Drug Development, Biopharmaceuticals and Therapeutics, Regenerative Medicine and Tissue Engineering, Stem Cell Technologies, Cancer and Other Biotech Research and Other. Among these, the biopharmaceuticals and therapeutics segment is anticipated to occupy the greatest market share and is also projected to be the fastest growing segment through the estimated period. A key contributing to this assessment includes perpetual research and development being conducted to explore novel therapeutics where cell culture techniques are incumbent. In addition, growing risk of pandemics and the respective control urgency will further propel the growth of this market.
Geographically, the DecisionDatabases.com report takes stock of the potential of cell culture media market in the regions of North America (US, Canada & Rest of North America), Europe( UK, Germany, France & Rest Of Europe), Asia Pacific(China, Japan, India & Rest of APAC), Latin America (Brazil & Rest Of Latin America).Among these, the biggest regional market for cell culture media across the world is expected to be captured by North America and the region will continue to maintain its lead through the estimated period. The major factors which drive the North America region are increasing demand for automation in cell culture methods and technologies and uplift in demand for biosimilars and biologics. Favourable government policies in the region facilitating the growth of life sciences innovations will also contribute to the growth of North America cell culture media market. Asia Pacific is anticipated to be the greatest progressing regional market over the projected period due to rising CMO and CRO activities in emerging countries of the region.
The key players operating in the global cell culture media market are Becton, Dickinson and Company, Corning Life Sciences B.V., All Cells, LLC, GE Healthcare., Lonza Group Ltd., Merck KGaA, Promocell GmbH, Sigma-Aldrich Co. LLC, Thermo Fisher Scientific, Inc., and VWR International, LLC.
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