Cell Culture Media Market Growth Is Attributed To The Rising Demand Of Serum-Free Media And Regenerative Medicine

According to Precision Business Insights (PBI) latest report the cell culture media market size was valued at USD 5,973.6 million in 2023 growing at a 11.3% CAGR during the forecast period 2024 to 2030. The increasing need for biopharmaceuticals, advancements in cell-based research, and regenerative medicine are the factors that expand the cell culture media market globally. Technological advancements including 3D cell culture techniques, the development of serum-free and Xeno-free formulations, and the use of chemically defined media components also are majorly driving the market of cell culture media. Furthermore, factors such as increasing healthcare expenditures, growing pharmaceutical companies, and growing collaborations and partnerships between pharmaceutical companies and research institutions present new opportunities for the growth of the cell culture media market over the forecast years.

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THE CELL CULTURE MEDIA MARKET DETAILED SEGMENTATION:
Based on the Types of Media, the market is segmented into the following:
• Chemically Defined Media
• Classical Media
• Serum Containing Media
• Protein-Free Media
• Serum Free Media
• Specialized Cell Culture Media
• Others

Based on the Application, the market is segmented into the following:
• Cancer Research
• Regenerative Medicine
• Virology
• Vaccine Production
• Model System
• Genetic Engineering
• Tissue Engineering
• Gene Therapy
• Drug Screening and Development
• Others

Based on the End User, the market is segmented into the following:
• Pharmaceutical and Biotechnology Industries
• Academic Research Institutes
• Hospitals and Diagnostic Centers
• Others

In Type of Media Segment, Serum-Free Media Subsegment is Dominating the Cell Culture Media Market:
Based on the type of media, the serum-free media segment is anticipated to show a significant growth rate in the market share over the forecasting period owing to the advantage of using serum-free media over other media including consistent research results, enhanced growth and production, easier downstream processes, lower risk of the presence of infectious components and contaminants, and avoidance of ethical concerns. Rising investments in life sciences research and collaborations among companies and research institutions support the growth of the cell culture media market. In Nov 2022, FUJIFILM Corporation announced a $188 million investment to establish a cell culture media manufacturing facility in Research Triangle Park (RTP), North Carolina, USA. In September 2021, Bio-Techne Launched ExCellerate™ iPSC Expansion, which a serum-free media features all animal-free components to provide a stable and reproducible cell culture environment.

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Based on Geography, the market is segmented into the following:
• North America
• Europe
• Asia Pacific
• Latin America
• MEA

North America Leads Cell Culture Media Market:
Cell culture media market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America holds a significant share of the cell culture media market and the market is expected to grow at a significant CAGR over the forecast years owing to the United States well-developed healthcare system, the presence of biotechnology and pharmaceutical companies, and a high demand for biopharmaceuticals. Asia Pacific region is also anticipated to grow in the forecasting period owing to rising healthcare expenditures, increasing outsourcing of clinical trials and research activities, rising burden of chronic diseases, and increasing demand for regenerative medicines. Countries like China, Japan, and India are key contributors to the market growth in this region.

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STRATEGIC NEW PRODUCT LAUNCHES, MERGERS, ACQUISITIONS, AND AGREEMENTS ARE THE KEY STRATEGIES ADOPTED BY MARKET PLAYERS:
Cell culture media market further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.

The major key players of the cell culture media market report are Merck KGaA, CYTIVA, Sartorius AG, FUJIFILM, denovoMATRIX, CytoGen GmbH, Irvine Scientific, Inc., Lonza Group AG, InvivoGen, STEMCELL Technologies Inc., PromoCell GmbH, Cell Biologics, Inc., Hi Media Laboratories, Thermo Fisher Scientific Inc., and Becton, Dickinson and Company are a few companies operating in cell culture media market.

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