Press release
Serum Free Media Market to Flourish with an Impressive 7% CAGR during 2020 - 2030
According to a latest report published by PMR, the global serum-free media market is expected to witness a CAGR of more than 7% during the forecast period (2020 – 2030), to close in on a valuation of US$ 3 Bn by the end of 2030.
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Key Takeaways from Serum-Free Media Market Study
The CHO cell media segment under media type is expected to hold more than twenty percent of revenue share in the serum-free media market.
By end user, biopharmaceutical companies held the highest market share in 2019. Serum-free media is significantly used in drug development and cell culture, which is anticipated to drive demand over the coming years.
Countries such as the U.S., Germany, India, and China are expected to experience significant growth in the global serum-free media market over the coming years, due to increase in drug development activities in these regions.
The COVID-19 outbreak has had a negative impact on the global serum-free media market, as a result of lockdowns and closing of manufacturing facilities across regions.
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Collaboration & Acquisitions – Key Strategies amongst Market Players
Leading players in the serum-free media market are strengthening their product portfolios by launching new products.
For instance, in March 2016, Lonza launched PowerCHO Advance™ Media for improved protein-production yields.
Various players in the serum-free media market are focusing on growth strategies such as collaborations and agreement licences.
In June 2018, Fujifilm completed the acquisition of Irvine Scientific Sales Company and IS Japan, leading companies of cell culture media.
In December 2019, Sartorius announced the acquisition of a majority stake in cell culture media specialist Biological Industries.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on serum-free media in its latest study, presenting historical demand assessment of 2015 – 2019 and projections for 2020 – 2030, on the basis of media type (protein expression media, stem cell media, hybridoma media, primary cell media, insect cell media, immunology media, CHO cell media, and chemically-defined media), animal source (camelids and sharks), and end user (biopharmaceutical companies, clinical research organizations, and academic research centers), across seven key regions.
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