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.
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.
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.
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.
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.
Cell Culture Media Market: Scope of the Report
Persistence Market Research (PMR) recently published a market study on the global cell culture media market. The study provides detailed assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the cell culture media market structure. The study presents exclusive information about how the cell culture media market will grow during the forecast period of 2019-2029.
Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market and compounded annual growth rate (CAGR) are explained in PMR’s study in a comprehensive manner. Other information contains volume analysis, which includes year-wise growth of cell culture media services during the forecast period. This information can help readers understand the quantitative growth prospects of the cell culture media market during the forecast period.
The study is relevant for service providers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Business researcher, shareholders, and industry experts can leverage the information and data presented in PMR’s study.
The study also includes statistics as well as facts related to the macroeconomic factors that are impacting developments in the market. It also offers actionable insights based on the future trends in the cell culture media market. Furthermore, small businesses and new entrants in the cell culture media market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.
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 PMR’s Cell Culture Media Market Report
Cell Culture Media Market: Research Methodology
In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the cell culture media market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.
Secondary resources referred to by analysts during the production of the cell culture media market study include statistics from government healthcare organizations, medicinal journals, research journals, press release, annual reports, white papers, directories, and databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.
Comprehensive information acquired from primary resources and secondary resources acts as a validation from companies in the cell culture media market, and makes PMR’s projection on the growth prospects of the cell culture media market more accurate and reliable.