Market Research Future has added a report titled “Cell Culture Media Market Research report forecast to 2023” to its offering. The report provides an in-depth analysis of regional data and an accurate projection of the market size and share of the Top 10 market players across the globe.
Overview:
Technological progress across healthcare departments are now ensuring a holistic growth for the same. However, it primarily banks on various developments in treatments. Cell culture media in one such area that is giving the healthcare department an unprecedented boost by assisting it in developing vaccines and with quite a few new outbreaks in the recent past, this department has become all the more essential. Various biotechnological firms are incorporating cell culture as a division to study the intricate details of cells and tissues of different plants and animals in a conducive atmosphere. The vision is to derive the desired result for various treatments. The market is getting backed sufficiently by governments and private investors which are charting a future course for the market during the forecast period (2017-2023). It has been assured a substantial growth to a valuation of USD 1290.1 million during this time as reported by Market Research Future (MRFR) in its well-studied analysis.
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Biotechnological firms are going to play a pivotal role in the success of this market, and that is quite evident from India Brand Equity Foundation’s declaration where the biotechnology industry in India was valued at USD 11 billion in 2016. This immense amount signals at its potential to trigger a substantial growth in regional cell culture media market and consequently, the global one.
On the flip side, its setup process incurs high cost which only a few companies can bear. The resultant product comes at a high price which again pushes the market on the backfoot. But India and China are the saving grace. With reasonably less workforce cost and establishment cost, they can deflate the total amount almost by 33% which in turn, is a lucrative offer for the global players.
Vendor Landscape:
Strategic partnerships, mergers, and acquisitions are having control over this competitive market. This is exemplified by Corning Incorporated’s agreement with BioCision. Some of the key players in the cell culture media market include HiMedia Laboratories (India), Thermo Fisher Scientific (U.S.), BD Biosciences (U.S.), Lonza (Switzerland), Corning Incorporated (U.S.), Merck KGaA (Germany), and GE Healthcare (U.S.).
Cell Culture Media Market Segmental Analysis:
The global cell culture media market can be segmented by type, application, and end-user.
Based on type, the market can be segmented into lysogeny broth, chemically defined media, protein-free media, serum-free media, classical media, and custom media. Among these, lysogeny broth is the chief market maker with almost 22.5% of the global share. However, chemically defined media can achieve the fastest CAGR of 9.6% during the forecast period.
Application-wise segmentation includes drug discovery and drug development, toxicity testing, cancer research, genetic engineering, tissue engineering & biochemistry, and stem cell research. With 23.8% of the entire market share, drug discovery and drug development segment is doing remarkably well. Meanwhile, the prevalence of cancer across nations is assisting cancer research to gain considerable ground.
By end-users, the market comprises biotechnology & pharmaceutical companies, research laboratories, academic institutes, and pathology labs. Biotechnology & pharmaceutical companies are leading the way by accounting for USD 386.5 million in 2016. However, research laboratories segment is also picking up speed boosted by government and private funding.
Regional Outlook:
Considering regional expansion, the global market can be segmented into the Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA).
Owing to a superior infrastructure and a huge patient pool, the Americas have turned into the biggest market for cell culture media. Prevalence of chronic diseases is boosting the market significantly. Europe comes next with similar kind of features to control the regional market. Government initiatives in the region are also commendable. However, the APAC region is surprisingly doing well. The eyes of many global players are on this region as plunging infrastructural cost in the zone can increase the profit margin.
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