The Global Cell Culture Media Market is expected to register a CAGR of 6.9% and is projected to reach USD 2,070.71 million by 2023. A cell culture media is a growth media designed to support the growth of cells. A cell culture media is composed of the appropriate composition of amino acids, vitamins, inorganic salts, glucose, serum, etc. It may require additional supplementary reagents and sera such as growth factors, hormones, lipids, trace elements, and minerals which are necessary for cell cultures to grow and survive in their incubation environment.
The cell culture media market is driven by the growing pharmaceutical industry, rising biopharmaceutical drugs in the pipeline, increasing prevalence of cancer and infectious diseases, and increasing geriatric population. However, the cost of cell culture media and contamination of media are a threat to the growth of the market.
Market Dynamics
Rising research and development in the pharmaceutical and biotechnology industry is driving the growth of the cell culture media market. For instance, according to a recent survey, the pharmaceutical and biotechnology industry in the US spent a total of USD 102 billion on research and development in 2015. Additionally, according to the National Institute for Health Research, the Association of the British Pharmaceutical Industry (ABPI) invested over Euro 4.1 billion in 2015 just in the UK on R&D, looking for breakthroughs for conditions such as cancer, dementia, and rare genetic diseases. This growing research and development in the field of healthcare are leading to an upward demand for cell culture media.
Segmentation
The global cell culture media market has been segmented into product type, application, and end user. By product type, the market has been segregated into reagents, media, and sera. Based on media, the market has been divided into classical media, stem cell media, serum-free media, and others. The market, based on stem cell media, is further categorized as bone marrow, neural stem cells (NSCs), mesenchymal stem cells (MSCs), and embryonic stem cells (ESCs).
Based on application, the market has been bifurcated into biopharmaceutical, tissue-culture and manufacturing, gene therapy, cytogenetic, and others. By end user, the market has been classified as biopharmaceutical companies, academic and research laboratories, hospitals and diagnostics centers, and others.
Key Players
The major players in the global cell culture media market are Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), Lonza (Switzerland), GE Healthcare (US), Becton, Dickinson and Company (US), HiMedia Laboratories (India), Corning Incorporated (US), PromoCell (Germany), Sera Scandia A/S (Denmark), The Sartorius Group (Germany), and Fujifilm Holdings Corporation (Japan).
Some of the key strategies followed by the players operating in the global cell culture media market were mergers, acquisitions, and new product launches.
Regional Analysis
The global cell culture media market, based on region, is divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The Americas accounted for the largest share in the global cell culture media market. The large share is majorly attributed to the presence of major manufacturers, increasing the prevalence of diseases leading to the high demand for drugs and other medications, technological advancements in the preclinical and clinical segment, increasing awareness among the population, and high disposable income.
The European market for cell culture media is projected to be the second-largest during the forecast period. Rising government initiatives to promote research to find a cure to the increasing number of chronic diseases, increasing number of pharmaceutical manufacturers, improving economies, and increased healthcare spending are driving the growth of the market in this region.
The Asia-Pacific region accounted for the third-largest market share due to many research organizations, low manufacturing cost, low labor cost, developing healthcare infrastructure, and increased investments by the American and European market giants in Asian countries such as China and India. The Australian market for cell culture media is expected to hold a market share of 10.7% in 2017.
The Middle East & Africa with less economic developments and meager income accounted for the least market share in 2017 but is expected to grow because of increasing awareness among people and demand for better healthcare facilities in the countries along with the rising disposable income.
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