iCrowdNewswire Dec 31, 2020 8:35 AM ET
Cell Culture Media Market Overview
Cell culture media market has the potential to achieve a CAGR of 6.9% between 2018 and 2023 (analysis period), says MRFR (Market Research Future). MRFR also expects the market size to hit USD 2,070.71 million by 2023. We will provide COVID-19 impact analysis with the report, offering an in-depth review following the coronavirus disease outbreak.
Following the COVID-19 outbreak, there has been a lot of uncertainty surrounding the cell culture media market, with experts believing it to be a mixed bag. Taking into account the fast spread of the novel coronavirus pandemic, the need for laboratory testing has intensified. The SARS-CoV-2 and the subsequent lockdown situation have resulted in shortage of cell culture technology, media and reagents across countries. Apart from supply-related challenges, the absorption capacity across various low- and middle-income nations has come down, which has also deterred the market growth rate.
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Testing is a vital step when it comes to curb the virus spread and cell culture based vaccines are currently the key focus area among biopharmaceutical companies. In view of the unstoppable SARS-CoV-2, governments of various countries are encouraging laboratories to ramp up the number of testings. Government policies are surging in number, aimed at enhancing diagnostic as well as testing processes, which could be favorable for the cell culture market in the forthcoming period.
The cell culture media market benefits mostly from the expanding pharmaceutical sector and the escalating number of pipeline pharma drugs and products. The significant burden of cancer cases along with various other infectious disorders, and the burgeoning elderly population also foster substantial growth. With the aim to drive more research and development activities, public and private organizations are spending considerably on pharmaceutical and biotechnology domains. The consequent surge in these researches has resulted in development of new drugs and therapies that help deal with the high prevalence of various chronic ailments as well as transplant surgery. These favorable factors are bound to create new growth opportunities for the cell culture media market over the evaluation period.
Developing countries like India, Brazil and China have emerged some of the most attractive destinations for firms that specialize in making stem cell cultures. A few key factors that contribute to these regions’ appeal can be the lenient regulatory policies for stem cell-based tests coupled with a favorable business scenario. Introduction of novel 3d cell culture techniques along with the mounting need for these for biopharmaceutical and vaccine production could also ramp up revenue generation. Tissue culture and manufacturing gene therapy have become the latest trends among leading companies, for the treatment of disorders like various cancer types, rheumatoid arthritis, renal disorders, cardiovascular (CV) diseases, acquired immunodeficiency syndrome (AIDS), hepatic disorders, and more.
Pharmaceutical vendors are increasingly are either merging or acquiring biotechnological firms to bolster their product ranges and uplift their market positions. Various companies are also creating new products and launching them in the market, while focusing on bringing down the overall development period and cost. To illustrate, in November 2020, Toyoda Gosei created a urethane microfoam film, developed for cell culture. The company used all the knowledge regarding urethane materials it had gained while developing and producing steering wheels. The film allows the cell culture to be cultivated within a structure that is similar to living tissues, and can be a potential alternative to the conventional animal experiments, in addition to utilization in drug development.
Cell Culture Media Market Segmentation
Cell culture media industry can be considered with respect to product type, application, and end user.
The product types covered in the MRFR study are media, sera and reagents. Media-based market segments are serum-free media, stem cell media, classical media, and others. The global market, in terms of stem cell media, caters to neural stem cells (NSCs), bone marrow, embryonic stem cells (ESCs) and mesenchymal stem cells (MSCs).
Major applications of cell culture media include tissue-culture and manufacturing, biopharmaceutical, cytogenetic, gene therapy, and others.
Top market end-users are hospitals and diagnostics centers, academic and research laboratories, biopharmaceutical companies, and others.
Cell Culture Media Market Regional Outlook
Cell culture media market can be regionally distributed into Europe, the Americas, MEA or Middle East & Africa as well as Asia Pacific or APAC.
The Americas prevails as the top performer in the global market, with the dominance attributed to the significant budgets allocated for intensive R&D activities by the biotech and pharmaceutical vendors. In the wake of the rising prominence of several chronic disorders and the subsequent increase in the need for effective drugs and vaccines, major firms are getting involved in terms of studies or product development. This has been quite favorable for the American market.
Europe will take the second place in the cell culture media market, thanks to the strong government support to companies for conducting researches that focus on achieving an effective cure for the soaring number of chronic ailments. The expanding pool of pharmaceutical firms and the substantial healthcare spending also add considerably to the market value. Advances in preclinical as well as clinical technology, high financial status, and the well-developed healthcare system also foster the expansion of the cell culture media market in the region.
APAC may procure the third leading position in the global market, primarily owing to the mounting number of research agencies, cheap manufacturing and labor costs and the rapid improvement in the healthcare infrastructure. The fact that European and American market companies are investing generously in countries like China and India also favors the APAC market. In 2017, Australia held a share of 10.7% in the APAC market.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/cell-culture-media-market-4462
Cell Culture Media Market Firms
Renowned firms in the global market are Thermo Fisher Scientific Inc. (US), Becton, Dickinson and Company (US), GE Healthcare (US), Fujifilm Holdings Corporation (Japan), HiMedia Laboratories (India), Corning Incorporated (US), PromoCell (Germany), Lonza (Switzerland), Bio-Rad Laboratories, Inc. (US), Sera Scandia A/S (Denmark), The Sartorius Group (Germany), Merck KGaA (Germany), and more.
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Keywords: Cell Culture Market Size, Cell Culture Market Trends, Cell Culture Market Growth, Cell Culture Market Insights, Cell Culture Market Demand, Cell Culture Market Share, Cell Culture Market Application, Cell Culture Market Segmentation