With the presence of a large pool of participants, the global cell culture media market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). BD Biosciences, ClonTech Laboratories Incorporation, GE Healthcare, and Lonza Bioscience, and Thermo Fisher Scientific Incorporation are some of the key vendors of across the world. These players are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the cell culture media market study.
Citing an instance, in May 2018, GE Healthcare Life Sciences declared that it is expanding powdered cell culture media production across Austria as well as the U.S. The company sources claim that elongated shelf-life and reduced transportation costs are stimulating the demand for cell culture media business in the countries.
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As estimated in this report, the global cell culture media market stood at US$ 676 million in the year 2017. Witnessing a tremendous rise during the period from 2018 to 2026, the revenue in this cell culture media market is expected to reach US$ 1,394 million by the end of the forecast period. The main types available in this cell culture media market are chemically-defined media, classical media, lysogeny broth, protein-free media, serum-free media, and specialty media. Among them, the demand for classical media is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Need To Treat Chronic Ailments Effectively To Contribute Towards Growth
“Mounting cases of chronic disorders along with humungous need for treating them in a personalized manner has generated escalating preference for cell culture process, thereby leading to huge demand for cell culture media market,” says the author of this study. Apart from this, enhanced awareness about the stem cell culture is expected to further drive the cell culture media market trends in the near future.
Low availability of skilled laboratory technicians and pharmacists across the emerging economies, however, is anticipated to hinder the expansion of cell culture media market over the years to come.
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Technological Innovations To Support North America Maintain Dominance
Regionally, North America has been leading the worldwide cell culture media market and is anticipated to continue on the dominant position in the years to come, states the cell culture media market study. The rising number of research & development activities along with acceptance of new technologies is the main factor behind the dominance of the North America cell culture media market. In addition to this, acceptance of new protocols for in-vitro cultivations is likely to drive the growth of cell culture media market in North America.
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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