According to the latest report published by Credence Research, Inc. “Cell Culture Media and Reagents Market (Media: Classical Media, Lysogeny Broth, Protein-free Media, Specialty Media, Serum-free Media, Chemically-defined Media; Reagents: Albumin, Attachment Factors, Amino Acids, Growth Factors and Cytokines, Insulin-like Growth Factors, Interferons and Interleukins & others ):Growth, Future Prospects and Competitive Analysis, 2016-2023,” the cell culture media and reagents market was valued at USD 3,629.7 Mn in 2015, and is expected to reach USD6,872.5Mn by 2023, expanding at a CAGR of 8.2% from 2016 to 2023.
Browse the full report Cell Culture Media and Reagents:Market Growth, Future Prospects and Competitive Analysis, 2016-2023 at http://www.credenceresearch.com/report/cell-culture-media-and-reagents-market
Cell culture techniques are used in a wide range of applications ranging from analysis of cellular and tissue structures, research, stem cell research, regenerative medicine, drug discovery and development to genetic engineering. A major factor influencing the growth of cell culture media and reagents market increasing significance of cell culture technologies in research and development of essential therapeutics and biomolecules. In addition, rising scope of cell culture in stem cell research, contract research, artificial organ harvesting and biopharmaceuticals, along with shift towards specialty, serum-free and custom media solutions will further facilitate the growth of this market. On the other hand, restraining factors such as stringent regulatory environment, need for advanced infrastructure and technologies for manufacturing advanced products, barriers to use of transgenic plants and animals and ethical concerns over the use of animal derived produces may hold back the growth of this market.
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Among the studied application areas, the biopharmaceuticals and therapeutics segment is observed to capture the largest market share in 2015 and also estimated to be the fastest growing segment through the forecast period. A key contributing to this assessment include perpetual research and development being conducted to explore novel therapeutics where cell culture techniques are incumbent. In addition growing risk of pandemics and the respective control urgency will further facilitate the growth of this market.
Geographically, North America is the largest regional market for cell culture media and reagents and the region will continue to maintain its lead through the forecast period. Growing demand for automation in cell culture methods and technologies and surge in demand for biosimilars and biologics are the key market drivers in North America. Favorable government policies in the region facilitating the growth of life sciences innovations will also contribute to the growth of North America cell culture media and reagents market. In addition, Asia Pacific is expected to be the fastest progressing regional market over the forecast period owing to increasing CRO and CMO activities in emerging countries of the region.
This market is highly fragmented in nature and is characterized by presence of a multitude of players operating both on international and local front. However, the dominance in terms of market share is held by a few companies namely, Thermo Fisher Scientific, Inc. (LifeTechnologies), Merck KGAA (EMD Millipore and Sigma-Aldrich Corporation), BDBiosciences and Corning Incorporated. Intensive product differentiation plays a significant role in determining the foothold of companies in the market. However, presence of a large number of small players in the domestic markets of emerging economies have led to intensifying the market competition on the global front.