Market Scenario:
Cell culture medium is customized and designed to support the growth of specific type of cells. Cell culture medium is composed of appropriate composition of primary nutrients such as amino acids, vitamins, inorganic salts, glucose, serum, etc. and may contain additional supplementary nutrients such as growth factors, hormones, etc. The global cell culture media market is expected to grow at a CAGR of ~ 9.1% during the forecast period.
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Market Dynamics:
The growing demand resulting from the growth of end user industries such as biotechnology, laboratory testing services, pharmaceuticals and others is the prime driver of the market. For example, Indian biotechnology industry witnessed year on year growth of 57.14 per cent in 2016 compared to 2015. According to the OECD report on biotechnology statistics, the U.S. has 11,367 biotech firms, Spain has 2,831 followed by 1,950 in France.
Technological drivers include advancements such as specialty media and artificial media such as serum-free media, protein-free media and others. These media are defined and thus have controlled amounts of different nutrients resulting in predictable growth and quality of cells which is the holy grail of cell culture media market.
High returns on investments and explosive growth resulting from the favorable demands have led to a fury of investments. The support from governments due to the strategic nature of the industry is further channeling the growth. For example, the Indian government is investing USD 5 billion to develop human capital, infrastructure and research initiatives with an aim to develop the biotech sector into a US$ 100 billion industry by 2025.
Global Cell Culture Media Market- Segmentations
For ease of understanding, the market has been segmented into four key dynamics: –
By Type : Chemically Defined Media, Serum-Free Media, Protein-Free Media, Classical Media, Custom Media, and Lysogeny Broth among others.
By Application : Stem Cell Research, Genetic Engineering, Tissue Engineering & Biochemistry, Toxicity Testing, Cancer Research, and Drug Discovery & Drug Development among others.
By End-user : Research Laboratories, Pathology Labs, Academic Institutes, and Biotechnology & Pharmaceutical Industries among others.
By Regions : North America, Asia Pacific, Europe, and the Rest-of-the-World.
Regional Analysis of Cell Culture Media Market:
North Americas region accounted for the largest market share of 36.1% in 2016 and which is predicted to reach USD 478.7 million by 2023 at a CAGR of 9.5 %. Europe is expected to be the second largest market and is anticipated to reach USD 374.3 million at a CAGR of 9.3 % during the forecast period 2017-2023. Asia Pacific is also anticipated to generate the fastest CAGR of 9.6% during the forecast period.
Dominant Players for Cell culture media Market:
Some of the dominant players in this market are
- Thermo Fisher HiMedia Laboratories
- Merck KGaA
- Lonza
- Corning Incorporated
- GE Healthcare
- BD
Many More…
Intended Audience
- Medical Devices Companies
- Research and Development (R&D) Companies
- Government Research Institutes
- Academic Institutes and Universities
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