The Serum Free Media Market to be affected by the on-demand economy, reaching US$ 3 Bn between 2020 - 2030

The Serum Free Media Market is bound to witness a CAGR of 7% and US$ 3 Bn between 2020 - 2030. The current scenario is such that technology is making inroads into the healthcare vertical, which is, in turn, reducing the cumbersome, in-person interactions with the caregiver. Telehealth is expected to outlive physical meetings in the forecast period. This would be the state of the healthcare vertical going forward.

Serum-free media gives more consistent cell growth and helps eliminate possible errors by minimizing the percentage of uneven growth among cell cultures. Consistency in cell culture coupled with superior cell growth with increased productivity makes it easier to use serum-free media for cell culture growth in biopharmaceutical production, research, and development.

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Increasing focus on biopharmaceuticals to treat chronic diseases is fuelling biopharmaceutical production. The contribution of biopharmaceuticals in the healthcare industry is rising due to superior efficacy as compared to conventional drugs. Downstream processes are often regarded as a bottleneck of the biopharmaceutical industry, but it is increasing the usage of serum-free media for cell culture growth.

Increasing number of personalized targeted products, rise of advanced manufacturing technologies, continuously improving manufacturing scalability, and alternative downstream processes are some of the key drivers of increasing biopharmaceutical production.

Moreover, production of serum-free media is largely concentrated in North America, Europe, and some parts of Asia Pacific, whereas,it has limited availability in untapped biopharmaceutical markets such as the Middle East & Africa, Latin America, and some countries of Asia. Thus, it has huge scope for manufacturing to improve availability and provide cost-effective products in Latin America and MEA.

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.

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.

"Rise in biopharmaceutical industries and demand for cell therapies for cancer treatment will boost the global serum-free media market," says a PMR analyst.

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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.
In May 2017, Lonza acquired cell and gene contract manufacturer PharmaCell.

In April 2017, Thermo Fisher Scientific completed the acquisition of Brammer Bio, a viral vector manufacturer for gene and cell therapies.

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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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This release was published on openPR.