Gene Therapy Cell Culture Media Market size is expected to reach $278.96 million by 2027

According to a new report published by Report Ocean, titled, “Gene Therapy Cell Culture Media Market by Media Type, Viral Vectors Type, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,"" the global gene therapy cell culture media market accounted for $122.60 million in 2019, and is expected to reach $278.96 million by 2027, registering a CAGR of 10.6% from 2020 to 2027.

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Culture media are nutrient growth substances provided in laboratory and research settings for 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. 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 boosts 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.

Increase in funding for R&D activities pertaining to gene therapy and growth in awareness regarding gene therapy drive the global market growth. In addition, increase in government support, ethical acceptance of gene therapy for cancer treatment, and rise in prevalence of cancer fuel the growth of the market. However, high cost associated with the treatment and unwanted immune responses are expected to hamper this growth.

The global gene therapy cell culture media market is segmented on the basis of media type, viral vectors type, end use and region to provide a detailed assessment of the market. By media type, the market is divided into serum containing media, serum free media, stem cell media, specialty media, chemically defined media, lysogeny broth, custom media, and others. By viral vectors type the market is divided into retroviruses, lentiviruses, adenoviruses, adeno associated virus, herpes simplex virus, poxvirus, vaccinia virus, and others.

By end user, it is divided into research institutes, pharmaceutical & biotechnology companies and academic institutes. By region, the gene therapy cell culture media market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa and rest of LAMEA).

Due to COVID-19 pandemic, the gene therapy cell culture media companies are largely protected from economic disruption, owing to increase in demand for media such as improved protein-free media for growth and production of viral vectors for use in gene therapy for cell and gene therapy media are in use in clinical trials to protect COVID-19. Rise in demand of COVID vaccine through gene and cell therapy propel the market growth. Furthermore, many gene therapy companies may see the opportunity to find vaccines for COVID-19 as life support which is increasing the demand of gene therapy cell culture media market as its wider use in clinical trials.

Key Findings Of The Study

By media type, the chemical defined media occupied 20.7% share of the global gene therapy cell culture media market in 2019
By viral vectors type, the lentiviruses anticipated to grow with the highest CAGR throughout the forecast period.
By end user, the pharmaceutical & biotechnology industry accounted for 60.3% share of the market in 2019.
By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.
In 2019, North America accounted for the major share of gene therapy cell culture media market size and is expected to continue this trend owing to surge in prevalence of cancer and rise in cancer related research. Furthermore, due to presence of majority of key players boost the growth of the market in the region. Moreover, other factors such as surge in health expenditure also boost the growth of the gene therapy cell culture media market in North America.

However, Asia-Pacific is expected to exhibit fastest growth rate owing to surge in awareness related to use of gene therapy cell culture media technique, development of the R&D sector and surge in research funding. Furthermore, focus of leading manufacturers on expanding their geographical presence in emerging Asia-Pacific countries to capture high market share is expected to drive the growth of the gene therapy cell culture media market in the region.

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This release was published on openPR.