Market Research Future has starting late imparted another examination to its wide research portfolio, which is titled as “Cell Culture Media Market Research report forecast to 2023" gives an all-around examination the measure of market size and advancement.
The Cell Culture Media Market is having a great run in the biotechnological sector owing to its prevalent use in the growth of microorganisms, cell lines, and cells. Available either in liquid or in gel form, the medium contains amino acids, inorganic salts, vitamins, glucose, serum, and other vital nutrients. However, the traction it is getting is mostly from the healthcare sector where it is often used to develop vaccines.
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The Global Cell Culture Media Market can have an imposing 9.1% CAGR during the forecast period (2017-2023). Over that period, it can also scale and surpass a valuation of USD 1290.1 million, reveals Market Research Future (MRFR). The report includes detailed segmental analysis and description of factors that can impact the market the most. The keen interest shown by the biotechnological firms in studying plants and animals to develop drugs can be considered as a major factor. In healthcare, the demand for the customized drug is getting stronger by day which can spark further researches. In addition, it is the interest shown by governments that is influencing the market considerably.
On reverso, the cell culture media market can face certain blows owing to the considerable investment associated with it. The process incurs a massive cost which prevents smaller economies from participating in such researches. However, the growing involvement of India and China is saving the day. These two regions have relatively less workforce and establishment cost, which is making them alluring in the eyes of market titans who are now expanding their business in the region.
HiMedia Laboratories (India), Thermo Fisher Scientific (U.S.), BD Biosciences (U.S.), Lonza (Switzerland), Corning Incorporated (U.S.), Merck KGaA (Germany), and GE Healthcare (U.S.)
The Cell Culture Media Market, for better comprehension and predictive analysis, can be segmented by type, application, and end-user.
Based on type, the cell culture media market can be segmented into classical media, chemically defined media, protein-free media, lysogeny broth,serum-free media, and custom media. Lysogeny broth rules the market with 22.5% of the global share. Meanwhile, chemically defined media is touted to clock the fastest CAGR of 9.6% during the forecast period.
Based on application, the cell culture media market includes tissue engineering & biochemistry, cancer research, toxicity testing, drug discovery and drug development, genetic engineering, and stem cell research. With 23.8% of the total market share, drug discovery and drug development segment is treading ahead smoothly.
By end-users, the cell culture media market comprises research laboratories, academic institutes, biotechnology & pharmaceutical companies, and pathology labs. Biotechnology & pharmaceutical companies are leading the market at present with a worth of USD 386.5 million in 2016.
Based on regional expansion, the cell culture media market includes the Americas, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA).
The Americas has the biggest market, and this can be attributed to their superlative infrastructure, technological brilliance, and eagerness to integrate the latest developments in practice. The considerable patient pool in the region is also providing traction to the market growth.
Europe is following the lead with great gusto. Increasing investment from the governments is helping the researchers plan accordingly, and the market is growing in sync with them. At the same time, the APAC region is doing a commendable job. The market titans are engaging themselves in a battle over the APAC market as the region has a less infrastructural cost which makes it easier for others to settle in and do business.
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