Culture Media Market to Increase at a CAGR of 8.0% and Provide Lucrative Growth Opportunities to the Market Players
Culture medium is composed of various nutrients to promote the growth, proliferation, maintenance, and storage of microorganisms and other cell types such as stem cells, mammalian, and other cell lines. Different culture media are available in the market for various cell cultures to survive and grow in their incubation environment.
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The Culture Media Market is anticipated to grow considerably in the near future, owing to different factors such as increase in investments and funding for R&D and innovation in life sciences, especially biopharmaceutical products. In addition, the development of the biosimilar industry significantly contributes toward the growth of the culture media market.
However, scientific and ethical constrains with respect to use of animal-derived products in culture media and dearth of skilled professionals restrict the market growth. Conversely, the emerging markets such as India and China are anticipated to provide lucrative growth opportunities to the market players.
By type, lysogeny broth accounted for nearly one-fourth share of the global culture media market in 2017. In terms of application, cancer research accounted for one-third share in 2017, and is projected to exhibit prominent growth rate, o wing to its crucial role in drug development. This is attributed to surge in cancer burden both in developed and emerging markets is anticipated to drive the market for cancer research in the forecast period.
By end user, the biotechnology & pharmaceutical industry generated the highest revenue, accounting for $1,645 million in 2017, and is anticipated to exhibit prominent growth rate. This is attributed to rise in demand for culture media and reagents required in this industry. By region, North America generated the highest revenue in the global culture media market in 2017. This trend is likely to continue throughout the forecast period, owing to rise in R&D investments, increase in advancements associated with cell culture media, and high demand for cell culture media in North America.
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Key Findings of the Culture Media Market:
• Research laboratories accounted for nearly one-fifth of the share of the culture media market in 2017.
• Regenerative medicine and tissue engineering application is anticipated to grow with the highest CAGR throughout the forecast period.
• North America accounted for nearly half of the global culture media market share in 2017.
• The Asia-Pacific region is anticipated to grow at the highest rate in the culture media market during the analysis period, followed by LAMEA.The Asia-Pacific region is anticipated.
Increase in adoption of key developmental strategies such as business expansion and product developments has driven the growth of the culture media industry. For instance, in June 2017, Fujifilm Holdings Corporations subsidiary, Irvine Scientific expanded its presence in North America by opening new research and development center in California. In July 2016, Thermo Fisher launched new Thermo Scientific Pre-Weigh Dehydrated Culture Media. Similarly, in June 2017, Cell Culture Technologies launched SteMaxOne, a protein- and peptide-free culture medium for the maintenance of human mesenchymal stem cells and stem cell lines.
The report provides extensive competitive analysis and profiles of key market players, such as Avantor Performance Materials, LLC (VWR International, LLC), Becton, Dickinson and Company (BD), Bio-Rad Laboratories Inc. (Bio-Rad), Caisson Laboratories, Inc. (Caisson Labs), Cell Culture Technologies LLC (Cell Culture Technologies), Corning Incorporated (Corning), Fujifilm Holdings Corporation (Fujifilm), GE Healthcare, HiMedia Laboratories Pvt., Ltd (HiMedia), Lonza Group Ltd (Lonza), Merck & Co., Inc. (Merck), Sartorius AG (Sartorius), Sera Scandia A/S (Sera Scandia), Thermo Fisher Scientific Inc. (Thermo Fisher), and Vitro Diagnostics, Inc. The other players in the value chain (not included in the report) include Takara Bio, Inc. and Cyagen Biosciences, Inc.
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