NEWARK, New Jersey, February 23, 2022 /PRNewswire/ — According to a report published by The Brainy Insights, the global cultural media market is expected to grow from $4.85 billion in 2020 for $12.74 billion by 2030, at a CAGR of 13.30% over the forecast period 2021-2030.
The growing popularity of regenerative medicines across the globe provides future opportunities in the global culture media market. Regenerative medicines are continually in the spotlight, as these drugs promise to provide therapies to replace the tissue or organ in the human body. These drugs are the next treatment and are used in clinics all over the world. Hence, regenerative medicine offers huge potential for the growth of culture media over the forecast period.
Growing demand for dehydrated culture media owing to its widespread application in various industries is fueling the growth of the market.
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Culture medium, also called growth medium, is a specific medium that contains the growth nutrients for the development of microorganisms. It is available in various forms such as liquid, gel and dehydrated powder in the market. The main purpose of culture media is to provide growth nutrients to microorganisms. Some of the components of culture media are growth promoting factors, energy sources, carbon sources, vitamins, essential minerals, metals, etc.
The culture media market is experiencing strong growth, due to the ramping up of research and development activities in the pharmaceutical sector. Rapid advancements in oncology, regenerative medicines, stem cells and biologics have increased the demand for culture media in recent years. However, the high cost of culture media and the risk of contamination are the major factors that may hinder the market growth during the forecast period.
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Key players in the global culture media market are Avantor, Inc., Thermo Fisher Scientific, Inc., Becton Dickinson and Company, Caisson Laboratories Inc, General Electric Company, Lonza Group AG, Corning Incorporated, Bio-Rad Laboratories, Inc., Cell Culture Technologies LLC, Fujifilm Holdings Corporation, Hi Media Laboratories Pvt. Ltd., and Merck & Co., Inc., among others. The major players in the global cultural media market are majorly focusing on adopting various strategies to gain a competitive edge in the market. Some of the strategies are product innovations, geographic expansion, new product launches, and forming a strong distribution network, among others.
- In June 2019Fujifilm Holdings Corporation announced that the company has opened the third cell culture media manufacturing facility, located in Tilburg, Netherlands. The company also has two other manufacturing plants in the United States and Japan.
- In March 2021, Thermo Fisher Scientific, Inc. announced the launch of the new Gibco Human Plasma-like Medium (HPLM). It is the first commercially available cell culture medium that mimics the metabolic profile of human plasma. The new Gibco Human Plasma-like Medium (HPLM) is specially designed for researchers to provide a realistic scenario of cell growth inside the human body.
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The classic media segment accounted for the majority of the market and was valued at $2.60 billion in 2020
The type segment is divided into classical media, stem cell media, serum-free media and others. The classic media segment accounted for the majority of the market and was valued at $2.60 billion in 2020. Classical media are inexpensive compared to other types of culture media and hence their demand is high all over the world. It is increasingly used for various types of cell lines.
The solid and semi-solid culture media segment is expected to grow at the highest CAGR of 14.5% during the forecast period
The state segment includes liquid culture media and solid and semi-solid culture media. The solid and semi-solid culture media segment is expected to grow at the highest CAGR of 14.5% during the forecast period. The growth is mainly due to the increasing demand for dehydrated culture medium powder due to its longer shelf life compared to liquid culture media.
The cancer research segment held the largest market share of 32.56% in 2020
The applications segment is divided into cancer research, biopharmaceuticals, regenerative medicine and tissue engineering, stem cell technologies, drug discovery and other applications. The cancer research segment held the largest market share of 32.56% in 2020. This is mainly due to the increasing prevalence of different types of cancers across the world. Therefore, many research and development activities are carried out by biopharmaceutical and pharmaceutical companies to find an effective treatment, which increases the need for culture media in the market.
The research laboratory segment is expected to grow at the highest CAGR of 14.02% during the forecast period
The end user segment is divided into biotechnology and pharmaceutical industry, academic institutes, research laboratories and others. The research laboratory segment is expected to grow at the highest CAGR of 14.02% during the forecast period. Growing research on various types of diseases and growing interest in vaccine production is expected to drive the demand for culture media in research laboratories during the forecast period.
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Regional Segment Analysis of Cultural Media Market
- North America (WE, Canada, Mexico)
- Europe (Germany, FranceUK, Italy, SpainRest of Europe)
- Asia Pacific (ChinaJapan India, rest of APAC)
- South America (Brazil and rest of South America)
- Middle East & Africa (UNITED ARAB EMIRATES, South Africarest of the MEA)
the North America The region dominated the global cultural media market and was valued at $2.01 billion in 2020. Factors such as the presence of numerous manufacturers, technological advancements, mature healthcare sector and high investments in the pharmaceutical industry are driving the demand for culture media in the North America Region. Furthermore, the European region accounted for a major market share in the global culture media market in 2020. The growing prevalence of chronic diseases has driven the demand for research and development activities for new treatments.
About the report:
The global Growing Media market is analyzed on the basis of value (USD Billion). All segments have been analyzed on a global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s five forces model, attractiveness analysis and competitor position grid analysis.
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SOURCE Smart Ideas