Cell Culture Media Market Worth $14.64 Billion by 2029 – Exclusive Report by Meticulous Research – GlobeNewswire

Redding, California, Aug. 01, 2022 (GLOBE NEWSWIRE) -- According to a new market research report, Cell Culture Media Market by Product (Serum-free, Chemically Defined, Classical, Xeno-free/Animal Component Free), Application (Monoclonal Antibody, Diagnostics, Cancer and Stem Cell Research), End User (Pharma & Biotech, Academic)- Forecast to 2029, published by Meticulous Research, the cell culture media market is expected to grow at a CAGR of 13.2% from 20222029 to reach $14.64 billion by 2029.

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Cell culture media, also known as growth media, isany gel or liquid created to support cellular growth in an artificial environment. When scientists remove cells, organs, or tissues from living creatures, they must keep them in an appropriate artificial environment. Cell culture media contains compounds required to support and regulate the growth of cells. These cells are used in the production of biopharmaceuticals or for research purposes. Growing demand for monoclonal bodies, rising funding for cell-based research, and increased R&D spending in the life science sector are some factors driving the cell culture media market.

COVID-19 Pandemic Impact: Cell Culture Media Market

During the pandemic, major pharmaceutical and biotech companies collaborated to find vaccines and treatment methods for containing the virus. The idea behind the collaboration was to come together and find a solution as quickly as possible during the pandemic. Collaborations also took place between companies and universities to speed up the research & production process. Outsourcing pharmaceutical and biotechnological research to contract research organizations (CROs) also increased during the pandemic. Below are some of the instances,

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The global cell culture media market is segmented based on product (serum-free media, chemically defined media, classical media, animal component-free media, and other cell culture media), application [bioproduction (monoclonal antibody production, therapeutic protein production, vaccine production, and cell & gene therapy)], diagnostics, cancer research, drug screening & development, and stem cell research), end user (pharmaceutical & biotechnology companies, academic & research institutes, and diagnostic laboratories) and geography. The study also evaluates industry competitors and analyzes the regional and country markets.

On the basis of product, in 2022, the serum-free media segment is estimated to account for the largest share of the cell culture media market. The major contributing factor for the large share of this segment is the higher use of cell culture techniques in companies and research institutes, which demand media to grow cells. Some of the major benefits offered by this media include reduced risk of serum borne agents and increase in cell culture productivity. Several serum-free media have been developed and are generally formulated to support the culture of a single cell type. The segment is also expected to grow at the highest CAGR during the forecast period.

On the basis of application, the bioproduction segment is expected to grow at the highest CAGR during the forecast period. The increased production of biotherapeutics for treating diseases like cancer, diabetes, rheumatoid arthritis, and other non-communicable diseases has created an unprecedented demand for cell culture media, which, in turn, is expected to drive the growth of this segment in the forecast period.

Based on the end user, the pharmaceutical & biotechnology companies segment is expected to grow at the highest CAGR during the forecast period. The major contributing factor is the increasing demand for antibody therapeutics and emerging biosimilars in the coming years.

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Geographically, North America is estimated to dominate the overall cell culture media market in 2022, followed by Europe and Asia-Pacific. Increased demand for cell-based diagnosis and treatments, the presence of major players, the availability of skilled professionals, and the presence of major research institutes are major contributing factors to the regional market's large share. However, Asia Pacific is expected to grow at the highest CAGR during the forecast period. The growth is attributed to the rising technological advancements in biotechnology & pharmaceutical centers, growing focus on developing vaccines & clinical research activities, the presence of major research organizations, low manufacturing & labor costs, and developing healthcare infrastructure.

The report also includes an extensive assessment of the product portfolio, geographic analysis, and key strategic developments adopted by leading market participants in the industry during 20192022. In recent years, the cell culture media market has witnessed several new product launches, partnerships, agreements and collaborations, expansions, and acquisitions. For instance, in January 2022, Cytiva (U.S.) signed an agreement with Nucleus Biologics, LLC (U.S.) to develop custom cell media for cell and gene therapies. Also, in November 2021, Sartorius AG (Germany) opened its Cell Culture Technology Center in Germany.

Some of the key players operating in this market are Merck KGaA (Germany), Thermo Fisher Scientific Inc. (U.S.), PromoCell GmbH (Germany), Cytiva (U.S.), Lonza Group Ltd (Switzerland), Corning Incorporated (U.S.), Becton, Dickinson and Company (U.S.), HiMedia Laboratories (India), Sartorius AG (Germany), FUJIFILM Holdings Corporation (Japan), Agilent Technologies, Inc. (U.S.), Miltenyi Biotec B.V. & Co. KG (Germany), BIOLOGOS (U.S.), STEMCELL Technologies Inc. (Canada), and Cell Applications, Inc. (U.S.).To gain more insights into the market with a detailed table of content and figures, click here:https://www.meticulousresearch.com/product/cell-culture-media-market-5318

Scope of the Report:

Cell Culture Media Market, by Product

Cell Culture Media Market, by Application

Cell Culture Media Market, by End User

Cell Culture Media Market, by Geography

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About Meticulous Research

Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

Contact:Mr.Khushal BombeMeticulous Market Research Inc.1267WillisSt,Ste200 Redding,California,96001, U.S.USA: +1-646-781-8004Europe : +44-203-868-8738APAC: +91 744-7780008Email-sales@meticulousresearch.comVisit Our Website:https://www.meticulousresearch.com/Connect with us on LinkedIn-https://www.linkedin.com/company/meticulous-researchContent Source: https://www.meticulousresearch.com/pressrelease/542/cell-culture-media-market-2029

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Cell Culture Media Market Worth $14.64 Billion by 2029 - Exclusive Report by Meticulous Research - GlobeNewswire