Cell Culture Media Market: Current Analysis and Forecast (2021-2027)

Cell Culture Media Market: Current Analysis and Forecast (2021-2027)

Cell culture media usually consist of an appropriate source of energy and compounds which regulate the cell cycle. It contains different nutrients that help in the growth, proliferation, maintenance, and storage of microbial and other cell types including stem cells. A wide range of cell culture media is available in the market that facilitates the growth of different types of cells.

With rapid technological advancement in cell biology and rising investment in research & development of pharmaceutical & biotechnology companies, the cell culture media market is witnessing an uptick all over the globe. For instance, the Pharmaceutical Research and Manufacturers of America (PhRMA) trade group represents the leading biopharmaceutical research companies in the United States. In 2019, the research and development (R&D) expenditure of its member companies reached USD 83 billion worldwide, up from USD 79.6 billion in 2018. Furthermore, the growing focus on cell culture technology for developing monoclonal antibodies and support by the government for research and funding is propelling the growth of this market.

Furthermore, the cell culture media market is anticipated to grow on account of the rapid progress in biopharmaceuticals, oncology, and stem cell research. Cell culture plays a vital role in vaccine production and cell culture technology has been used to produce vaccines for chicken pox, polio, smallpox, hepatitis, etc. Also, cell culture-based vaccine production is far more efficient and offers many advantages over traditional manufacturing methods such as shortened lead-time and the capability to produce vaccines in larger quantities. Thus, recent years have witnessed an increased demand for cell-based vaccines, resulting in efforts by major industry players to capitalize on the opportunities provided. Thereby, boosting the growth of the cell culture media market globally. For example, in Feb 2020, Seqirus received US FDA approval for AUDENZ, a cell-based Influenza A (H5N1) Monovalent Vaccine for individuals aged six months and older.

Based on type, the market is segmented into lysogeny broth, chemically defined media, classical media, serum-free media, specialty media, stem cell media, and others. The serum-free media segment generated revenue of USD XX million in 2020. The market is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027.

Based on application, the market is segmented into cancer research, biopharmaceuticals, regenerative medicine & tissue engineering, and diagnostics. The biopharmaceuticals segment grabbed XX% market share of the cell culture media market in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of USD XX million by 2027. However, the cancer research segment is also expected to grow considerably during the projected timeframe.

Based on the end-users, the market is fragmented into pharmaceutical & biotechnology companies, hospitals & diagnostic laboratories, research & academic institutes, and others. The pharmaceutical & biotechnology companies segment captured XX% market share in 2020. The market of this segment is expected to reach USD XX million by 2027.

For a better understanding of the market adoption of the cell culture media, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the cell culture media industry and generated revenue of USD XX Million in 2020 owing to the presence of well-established market players and the rapidly inclining pharmaceutical industry in the region.

Some of the major players operating in the market Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Hi-Media Laboratories Pvt. Ltd., Merck KGaA, Corning Incorporated, Sartorius AG, Fujifilm Holdings Corporation, Lonza Group Ltd, Caisson Laboratories Inc., among others. Several M&A’s along with partnerships have been undertaken by these players to develop new and advanced products.

The global cell culture media market was valued at USD XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021 to 2027. The cell culture media market is expected to witness a boost, owing to the surge in the number of infectious diseases incidences and advancements in cell culture technology.