The burden of chronic diseases is rapidly increasing across the world. Change in lifestyle is the major factor leading to many chronic diseases such as cancer. The World Health Organization (WHO) has estimated chronic disease prevalence to rise by 57% by the end of 2020.
With the rise in chronic diseases, there is increasing demand for healthcare systems to focus more on effective treatment for the same. Furthermore, rising demand for biopharmaceutical and biotechnological products, which has increased spending on cell culture development, is anticipated boost the growth of the cell culture media market over the coming years.
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- Thermo Fisher Scientific Inc.
- Merck KGaA
- GE Healthcare
- Corning Incorporated
- Irvine Scientific
- STEMCELL Technologies Inc.
- PAN Biotech
- MP Biomedicals, LLC
- PromoCell GmbH
- Becton, Dickinson and Company
- Hi-Media Laboratories
Increasing Production of Antibodies for Disease Treatment Aiding Market Growth
Cell culture technology using various culture media has been proven to be a reliable and robust technology. Cell culture technology can help in the development of monoclonal antibodies. These antibodies can be produced synthetically using cell culture media in laboratories.
Monoclonal antibodies have been used as therapeutics against various autoimmune diseases, as the body lacks the function of producing monoclonal antibodies.
Hence, increasing demand for monoclonal antibodies as a therapeutic agent using various cell culture media will fuel the growth of the cell culture media market.
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Rising Number of Parenteral Products in Pipeline
There has been a significant rise in parenteral drugs in the pipeline. As per reports, there was a rise of around 55% of parenteral drugs in the pipeline in 2019 when compared to the previous year.
Rise in parenteral products in the pipeline is indicative of the growing demand for cell culture media. Increase in demand for biopharmaceutical products will drive the growth of the cell culture media market through 2029.
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North America and Europe to Lead Cell Culture Media Market
North America and Europe hold a large revenue share of the global cell culture media market, owing to the rising diagnosis and treatment of chronic diseases in these regions. According to WHO, chronic diseases will increase from 3.78 million in 1990 to an expected 7.63 million by the end of 2020.
Increased R&D investments, government initiatives for imparting awareness about cell-culture based vaccines, and rise in healthcare spending are some of the factors that are driving the growth of the cell culture media market in these regions.
However, the significantly large patient pool in the Asia Pacific regions will offer potential growth opportunities for players in the cell culture media market.
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Competitive Landscape of Cell Culture Media Market
The cell culture media market is consolidated in nature, with the top 5 players holding over 65% of the market share in 2018. Collaborations with pharmaceutical product manufacturers remains the main focus of players that only offer cell culture media.
However, many players are focused on developing in-house cell culture media platforms to offer unique and cost-effective cell culture media products. Other players are focused on geographical expansion through distribution agreements.
For instance, in May 2017, Lonza acquired cell and gene contract manufacturer - Pharma Cell - to enhance its production capability and reach.
A majority of companies are expanding their business by increasing collaborations between contract manufacturing organizations and key players. Other players are focusing on increasing their product portfolios. Based on this trend, North America and Europe will hold substantial share of the global cell culture media market through 2029.
Cost-effective and enhanced cell culture media will favor market growth. Increased funding for research & development toward drug development will help the cell culture media market grow at a substantial rate. However, at the same time, the high cost of R&D and concerns about sterility will hamper market growth to some extent. There will also be some failure of drugs in pipeline analysis.
Key Segments of Cell Culture Media Market
PMR’s study on the cell culture media market offers information divided into four important segments - product, application, end user and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories
Key Questions Answered in Report
- How much is the cell culture media market worth?
The global cell culture media market is estimated to reach US$ 3 Bn in the year 2021.
- What will be the demand outlook?
The global cell culture media market is expected to grow twice its value in 2021 by the year 2031.
- What was the last 5 year market CAGR?
The cell culture media market witnessed a CAGR of 6% between 2015 and 2020.
- What are the key trends for cell culture media market?
The current trend is that of making maximum use of cell culture media for combating the outbreaks of various diseases.
- What is driving the demand for cell culture media?
Extensive research carried out for developing innovative cell therapy products funded by both – government and private research centres is driving the demand for cell culture media market.
- What is the market share of top 5 players?
The top 5 players like Thermo Fisher Scientific, Merck KGaA, GE Healthcare, Danaher Corporation, and Becton, Dickinson and Company hold more than 60% of the market share.
- What are the top 5 countries driving demand?
The top 5 countries driving demand include the US, Germany, Germany, Canada, and Switzerland.
- What is North America’s market Outlook?
North America holds more than 40% of the market share and will continue to do so going forward as well.
- At what percentage cell culture media market is going to register growth in Europe?
Europe is expected to register growth at the rate of 4% in cell culture media market between 2021 and 2031.
- Which countries are key producers of XYZ?
The US and Germany are the key producers of cell culture media.