Serum Free and Specialty Media Market to Reach $6.9 billion, Globally, by 2033 at 11.6% CAGR | Lonza, Thermo Fisher Scientific Inc., Sartorius AG, Fujifilm Holdings Corporation

According to the report, the serum free and specialty media market was valued at $2.3 billion in 2023, and is estimated to reach $6.9 billion by 2033, growing at a CAGR of 11.6% from 2024 to 2033.

Increase in R&D expenditure in biopharmaceuticals, rise in demand for biologics and monoclonal antibodies, and rise in the adoption of biosimilars are the major factors that drive the growth of the serum-free and specialty media market.

Request Sample of the Report on -

https://www.alliedmarketresearch.com/request-sample/A197307

Increase in R&D expenditure in biopharmaceuticals, rise in demand for biologics and monoclonal antibodies, and rise in the adoption of biosimilars are the major factors that drive the growth of the serum-free and specialty media market. However, the lack of a skilled workforce and high initial investment and operating costs may restrict market growth. Moreover, the demand for high-purity, animal-component-free media is rising as personalized medicine gains traction in treating diseases like cancer, genetic disorders, and autoimmune conditions.

Connect to our Analyst - https://www.alliedmarketresearch.com/connect-to-analyst/A197307

North America held the largest market share in 2023.

Region wise, North America dominated the market share in 2023, accounting for around two-fifths of the serum free and specialty media market revenue, owing to the presence of a well-established and advanced biopharmaceutical industry. In addition, the increasing prevalence of chronic diseases and the growing demand for biologics and biosimilars further drive market growth in North America. The availability of skilled professionals and strong collaborations between academia and industry also enhance the adoption of advanced serum free and specialty media solutions in the region.

However, Asia-Pacific is expected to register the highest CAGR of 12.3% during the forecast period owing to the increase in demand for biologics, biosimilars, and therapeutic proteins is driving the adoption of serum-free and specialty media in the region. Asia-Pacific is witnessing rapid growth in its biopharmaceutical industry due to rising healthcare needs, expanding patient populations, and increased investment by governments and private entities in biomanufacturing infrastructure. Countries like China and India are emerging as key hubs for biopharmaceutical production and contract manufacturing organizations (CMOs), driven by lower production costs and favorable regulatory environments.

For Purchase Related Queries/Inquiry - https://www.alliedmarketresearch.com/purchase-enquiry/A197307

Leading Market Players:

Sartorius AG
Danaher Corporation
Fujifilm Holdings Corporation
MERCK KGAA
Lonza
Pan-Biotech
Corning Incorporated
MP Biomedicals
Bio-Techne
Thermo Fisher Scientific Inc.

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Toll Free: +1-800-792-5285
Int'l: +1-503-894-6022
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides end-to-end solutions along with information, education, advocacy, and networking resources to SMEs and early-stage start-ups to bring excellence to their processes. In addition, we offer a nurturing environment required to develop and grow businesses, including business planning; virtual support; market intelligence; acquiring resources; and getting direct access to finance, suppliers, and other experts to boost the growth of businesses and entrepreneurs.

Our bundled and hassle-free business support systems are customized to meet the needs of SME consultants and industry leaders. Moreover, our large network of skilled consultants and experts help start-ups get the business on a roll.

This release was published on openPR.