Increasing R&D Activities in Life Science Sector is Escalating the Growth of the Cell Culture Media Market

The cell culture media market has evolved considerably in recent times, owing to rapid progress in the areas of biopharmaceuticals, oncology, and stem cell research. Moreover, an increase in funding & investments in R&D and innovation in the life science sector supplement the growth of the market. The outbreak of COVID-19 pandemic has improved the demand for well-established cell-based vaccine production technologies. This growing risk of pandemics and communicable diseases offers potential growth opportunities for the key players in the culture media market.

Furthermore, the cell culture media market growth is driven by the growing demand for biopharmaceuticals, favorable governmental policies, and rising scientific innovations, particularly in the production and testing of vaccine technology. The market players are continuously working toward better and more efficient offerings and evolving the life of available offerings through awareness campaigns, and product launches, which will complement the market growth.

According to Marketlook Consulting’ research report “Global Cell Culture Media Market Analysis, 2021”, the cell culture media market is anticipated to grow at a CAGR of 16% during 2021-29. The market would reach USD 16.06 billion by 2029.

Based on the type of products, the market is segmented into serum-free media, classical media, stem cell media, specialty media, chemically defined media, and other media. The serum-free media segment acquired the largest share in 2021 and is expected to continue to dominate the market during the forecast period as these serum-free media are commonly used in cell culture applications where serum-derived components may interfere with experimental outcomes or downstream applications. Advantages of using serum-free media include increased growth and/or productivity, more consistent performance, and better control over physiological sensitivity which is driving the segment growth during the forecast period.

“Global Cell Culture Media Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the cell culture media providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

Asia Pacific Dominated the Market

Based on leading regions, Asia Pacific is projected to acquire the largest market share during the forecasted period 2022-29 owing to the increase in awareness associated with the use of the cell culture technique across the region. Furthermore, strategic activities by key players to expand their presence in the Asia Pacific countries to capture high market share is expected to offer lucrative opportunities during the forecasted timeline.  Other factors such as rising technological advancements in biotechnology & pharmaceutical centers, growing focus on developing vaccines & clinical research activities are projected to fuel the demand for the cell culture media market in the forthcoming period as stated in Marketlook Consulting research report “Cell Culture Media Market Analysis, 2021”. 

According to Marketlook Consulting’, the key players with a considerable market share in the global cell culture media market are Avantor Inc, Becton Dickinson, and Company., Bio-Rad Laboratories, Inc., Corning Incorporated., Fujifilm Holdings Corporation, PromoCell GmbH, Hi-Media Laboratories Pvt. Ltd., Lonza Group AG, Merck & Co., Inc., Thermo Fisher Scientific, Inc

Market Segmentation:

• By Product Type (Serum-Free Media, Classical Media, Stem Cell Media, Specialty Media, Chemically Defined Media, Other Media)
• By Application (Cancer Research, Biopharmaceuticals, Stem Cell Technologies, Drug Discovery, Regenerative Medicine & Tissue Engineering, Others)
• By End User (Biotechnology & Pharmaceutical, Academic Institute, Research Laboratory, Others)
• By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa)
• By Company (Avantor Inc, Becton Dickinson, and Company., Bio-Rad Laboratories, Inc., Corning Incorporated., Fujifilm Holdings Corporation, PromoCell GmbH, Hi-Media Laboratories Pvt. Ltd., Lonza Group AG, Merck & Co., Inc., Thermo Fisher Scientific, Inc.)

Key questions answered in the study:

• What are the current and future trends of the cell culture media industry?
• How the industry has been evolving in terms of user types demand and application areas?
• How the competition has been shaping across the countries followed by their comparative factorial indexing?
• What are the key growth drivers and challenges for the cell culture media industry?
• What is the customer orientation, purchase behavior, and expectations from the cell culture media firms across various regions?