Culture Media Market Expected to Reach $6,532 Million, by 2023

The Global Culture Media Market was valued at $3,775 million in 2016, and is estimated to reach at $6,532 million by 2023, registering a CAGR of 8.1% from 2017 to 2023. Culture media is used in microbiological laboratories and research centers to grow and control cells. A cell culture medium is composed of an array of vitamins, amino acids, inorganic salts, glucose as an energy source, and serum as a source of growth & attachment factors & hormones.
The culture media market has evolved considerably in the past decade, owing to rapid progress in the areas of biopharmaceuticals, oncology, and stem cell research. Moreover, increase in funding & investments in R&D and innovation in the life science sector supplement the growth of the market.

Furthermore, technological advancements associated with cell culture and high demand for culture media are the key factors that boost the growth of the market. However, lack of skilled professionals and ethical & scientific concerns associated with culture media impede the market growth. On the contrary, untapped potential of the emerging markets is anticipated to provide lucrative opportunities to the key players involved in the culture media industry.

The culture media market is segmented based on type, application, end user, and region. On the basis of type, the market is divided into lysogeny broth, chemically defined media, classical media, serum-free media, specialty media, stem cell media, and others. The applications covered in the study include cancer research, biopharmaceuticals, regenerative medicine & tissue engineering, stem cell technologies, drug discovery, and others. Depending on end user, the market is classified into biotechnology & pharmaceutical industry, academic institute, research laboratory, and others. By region, the culture media market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The culture media market is expected to witness a moderate growth during the forecast period, owing to rise in adoption of cell culture media due to surge in disposable income of population. Furthermore, the culture media market share is anticipated to increase in the future, due to the accessibility and availability of customized and specialty media in the emerging markets.
The cancer research application occupied the largest share in the culture media industry, owing to increase in oncology research, focus on monoclonal antibodies production, and surge in prevalence of cancer globally.
Asia-Pacific possesses high market potential for the growth of the culture media market, owing to increase in accessibility & availability of research facilities and rise in healthcare & research expenditure. In addition, significant economic development fuels the growth of the market in this region.

The report provides extensive competitive analysis and profiles of key market players such as Thermo Fisher Scientific, Inc., Merck & Co., Inc., GE Healthcare, The Sartorius Group, Corning Inc., Lonza Group, Becton, Dickinson and Company, HiMedia Laboratories, Vitro Biopharma, Bio-Rad Laboratories, Inc, Caisson Laboratories, Inc., Cell Culture Technologies LLC, Fujifilm Holdings Corporation (Irvine Scientific Sales Company, Inc.), Avantor Performance Materials, LLC (VWR International, LLC), and Sera Scandia A/S (Biowest). The other players in the value chain (not included in the report) include Takara Bio, Inc., Cyagen Biosciences, PeproTech, Inc., and Biomol GmbH.

Key Benefits for Stakeholders

• This report entails a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
• Cell culture media market size and market estimations are based on comprehensive analysis of the key developments in the industry.
• In-depth analysis based on region assists to understand the regional market and the strategic business planning.
• The development strategies adopted by key manufacturers are enlisted to understand the competitive scenario of the market.

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