Cell Culture Media Market Scenario:
Cell culture medium is customized, precision, nutrition designed to selectively support growth of specified cells types composed of appropriate composition of nutrients such as amino acids, vitamins, inorganic salts, glucose, serum, etc. Advanced cell culture medium contains supplementary nutrients including growth factors, hormones, etc. The global cell culture media market is anticipated to generate a CAGR growth of ~ 9.1% during the review period.
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Market Dynamics:
The growing demand and complimentary prosperity of end user industries such as pharmaceuticals and biotechnology industries, laboratory testing services, and others is the critical driver of the market. To speak of prosperity, the Indian biotechnology industry witnessed a CAGR growth of approximately 57.14 per cent in 2016 over 2015. The rising number of biotech firms is underlined by the fact provided by the OECD report on biotechnology statistics, which states that the U.S. has 11,367 biotech firms, Spain around 2,831 which is followed by 1,950 in France.
Technological drivers of the market are the advancements such as specialty media and artificial media which are free of constituents causing variations such as serum, and others. The high importance associated by governments around the world to biotech industry due to its strategic nature has resulted in large support for the industry such as tax concessions. The statement is nailed by the fact that the Indian government invested around USD 5 billion in human capital, infrastructure and research initiatives with a target of around USD 100 billion industry by 2025. Financial drivers such as high returns on investments and growing startup capital is further driving the growth.
Restraints
The high cost of cell culture media coupled with technical constraints such as contamination by heavy trace elements is the most critical restraint to the cell culture media market. Technical issues such as difficulty of reproducibility, standardization, quality and specificity etc. are hampering the market. The scarcity of raw materials such as serum and animal components, coupled with the ethical issues regarding animal components, etc. are constraining the market.
Segments:
Cell culture media market is segmented on the basis of type, application, and end users.
Type – lysogeny broth, chemically defined media, protein free media, serum free media, classical media, custom media, and others. Lysogeny broth is expected to possess the largest market share of 22.5% which is estimated to reach USD 298.6 million by the end of 2023 with a CAGR growth of 9.5%.
Applications – drug discovery and drug development, toxicity testing, cancer research, genetic engineering, tissue engineering & biochemistry, stem cell research, and others. Drug discovery and drug development segment accounted for the largest market share of around 23.8% in 2016. The drug discovery and drug development segment is anticipated to reach USD 315.3 million at a CAGR growth of 9.5% by 2023.
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End users – Biotechnology & pharmaceutical companies segment is expected to dominate the market with a share of around 29.3% in 2016. This biotechnology & pharmaceutical companies segment is anticipated to generate USD 386.5 million in 2023 at a CAGR of 9.4%.
Region – North Americas, Europe, Asia Pacific, and the Middle East & Africa.
Regional Analysis of Cell Culture Media Market:
North Americas region led by the U.S. accounts for the largest market share of approximately 36.1% in 2016. The North American market is anticipated to reach USD 478.7 million by 2023 with a CAGR of 9.5 %. Europe led by Germany, France and the U.K. is estimated to be the second largest market and is estimated to generate USD 374.3 million at a 9.3 % CAGR during the review period. Asia Pacific is accounted to generate the fastest CAGR of around 9.6% during the forecast period.
Prominent Players for Cell culture media Market:
Some of the key players in this market are Thermo Fisher, HiMedia Laboratories, Merck KGaA, Lonza, Corning Incorporated, GE Healthcare, BD, and others.
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