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).
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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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Key Questions Answered in the Cell Culture Media Market Report
How is the Cell Culture Media Market expected to grow over the projected period?
What direction is the Cell Culture Media Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Cell Culture Media Market in future?
What are the key market drivers in the Cell Culture Media Market?
What are significant opportunities and improvement areas for Cell Culture Media Market manufacturers?
What are the key developments and trends taking over the Cell Culture Media Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Cell Culture Media Market?
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