COVID-19 Impact on Cell Culture Media Market Size by Product Type (Reagents, Media (Classical Media, Stem Cell Media (Bone Marrow, Neural Stem Cells (NSCs), Mesenchymal Stem Cells (MSCs), Embryonic Stem Cells (ESCs)), Serum-Free Media and others) and Sera), Applications (Biopharmaceutical, Tissue-Culture and Manufacturing, Gene Therapy, Cytogenetic), End User and Region, Forecast to 2023
According to Market Research Future (MRFR), in its recent study on COVID-19 Impact on Cell Culture Media Market, asserts that the market is expected to reach USD 2,070.71 million by 2023, growing at 6.9% CAGR during the assessment period. Discoveries of new medicines demand extensive R&D to be carried out and substantial investments. Novel COVID-19 pandemic has prompted the need to create new paradigms that expedite the delivery of proven therapies by the scientific community and industry. The epidemic has undoubtedly given a solid boost to the cell culture media market growth.
Cell culture media is a critical component in the production of cell therapies. Over the last few years, the cell culture media market is growing continually, mainly due to the increasing consumption of products used in the cell culture environment. Besides, increasing demand in the development of biotechnological products and biopharmaceuticals drives the market growth of the cell culture media. Moreover, rising uses of media in pharmaceutical labs for drug discoveries escalate market growth of cell culture media.
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Private and public entities make considerable investments in the biotechnology and pharmaceutical domains to drive research and development activities. This research helps bring about innovative treatments and medicines to address the growing prevalence of chronic disease and transplant surgeries. Undoubtedly, improving economic conditions worldwide propels market growth of cell culture media, enabling access to the quality, and improved health care.
Market Drivers
- Growing pharmaceutical industry
- Rising biopharmaceutical drugs pipeline
- Increasing prevalence of cancer and infectious diseases
- Increasing geriatric population.
Market Restraints
- Prohibitive costs of cell culture products.
- Lack of funding programs especially in the developing regions
Cell Culture Media Market Segmentation
By Product Type, the global cell culture media market is segmented into Reagents, Media (Classical Media and Stem Cell Media), Sera, and others.
By Application, the global cell culture media market is segmented into Biopharmaceutical, Tissue-Culture and Manufacturing, Gene Therapy, Cytogenetic, and others.
By End User, the global cell culture media market is segmented into Biopharmaceutical Companies, Academic & Research Laboratories, Hospitals & Diagnostics Centers, and others.
Cell Culture Media Market Regional Analysis
North America dominates the global cell culture media market. The largest cell culture media market share attributes to the substantial investments transpired into R&D activities in the pharmaceutical and biotech industries. Besides, the presence of major industry players, alongside the increasing prevalence of myriads of chronic diseases that create a massive demand for drugs and other medications, drives the regional market of cell culture media. Moreover, advances in preclinical and clinical technologies, high disposable income, and penetration of healthcare systems in the region fostered the growth of the cell culture media market.
Europe holds a second significant share in the global cell culture media market. The cell culture media market is majorly driven by increasing government initiatives and funding to drive R&D required for drug discoveries to treat the increasing number of chronic diseases. Additionally, growing numbers of pharmaceutical and biotechnology companies, improving economy, and rising healthcare spending push the growth of the cell culture media market.
Also, the increased funding in rising numbers of specialty services offered by various health care providers boosts the market growth in the region. The European cell culture media market is estimated to create a substantial revenue pocket over the assessment period.
The Asia Pacific cell culture media market is growing rapidly. Factors such as increasing consumption of cell culture products in research organizations and increasing numbers of research labs in the region define the growing landscape of the cell culture media market.
Besides, the rapidly developing healthcare infrastructure in Asian countries such as China and India contribute to the regional cell culture media market growth, attracting foreign investments. Furthermore, rapidly improving economy in the region, along with the proliferating pharmaceutical industries and developing healthcare technology, provide impetus to the cell culture media market growth.
Cell Culture Media Market Competitive Analysis
Highly competitive, the cell culture media market appears fragmented due to the presence of several well-established players. Considering the high growth potential and demand in the market, players plan to increase cell culture media production. They offer such containment and delivery systems that can preserve the physical, chemical, and functional characteristics of sterile fluids.
They ensure to provide a range of media and other cell culture products with disposable vessels, liquid-handling products, and advanced surfaces that supply life science researchers with a comprehensive portfolio of products. Also, industry players emphasize on providing convenient packaging systems with custom configurations that can meet customized requirements. For instance, single-use bags that can offer practical and cost-effective alternatives to rigid-walled containers in specific applications.
Cell Culture Media Market Major Players:
Players active in the cell culture media market include Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), GE Healthcare (US), Becton, Dickinson and Company (US), Lonza (Switzerland), Corning Incorporated (US), PromoCell (Germany), HiMedia Laboratories (India), The Sartorius Group (Germany), Fujifilm Holdings Corporation (Japan), and Sera Scandia A/S (Denmark), among others.
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Cell Culture Media Industry/Innovations/Related News:
Nucleus Biologics LLC (the US), a leader in precision cell culture, announced the launch of the World’s First Online Portal for Instantaneous Custom cGMP Cell Culture Media Configuration. The online configuration and ordering platform is called as NB-Lux™. The platform is designed for cell therapy developers to speed formulation development by providing real-time pricing for cGMP grade media in lot sizes from two liters to 2000 liters.
Nucleus Biologics’s mission is to speed the time from discovery to cure. Hence, it has developed a first-of-its-kind portal – NB-Lux that empowers scientists to create their formulas, get real-time quotes, and have cGMP media manufactured in just nine weeks.
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3D Cell Culture Market: Global 3D cell culture market size was valued USD 725.15 million in 2016 and expected to grow at a 25.50% CAGR during the forecast period.
Gene Therapy Market: Gene Therapy Market size was valued USD 524 million in 2018 and is likely to grow at a 40.7% CAGR by 2025.
NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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