Cell Culture Media Market worth $13.0 billion by 2028, growing at a CAGR of 16.0%

(IT-NEWSWIRE.COM, March 22, 2024 ) The report "Cell Culture Media Market by Type(Serum-free (CHO, BHK, Vero Cell), Stem Cell, Chemically Defined, Classical, Specialty), Application(Biopharmaceutical (mAbs, Vaccine), Diagnostics, Tissue Engineering), End User(Pharma, Biotech) - Global Forecast to 2028", is projected to reach USD 13.0 billion by 2028 from USD 6.2 billion in 2023, at a CAGR of 16.0% during the forecast period. The growth of the market is majorly attributable to increased demand for biosimilars and mAbs globally, rising investment & funding for stem cell research, focus of key market players on launch of novel products in the market.

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In 2022, the serum-free media segment accounted for the largest share of the type segment in the cell culture media market.

On the basis of type, the cell culture media market is divided into serum-free media, classical media & salts, stem cell culture media, specialty media, chemically defined media, and other cell culture media. In 2022, the serum-free media segment holds for the bigest share of the market. Factors responsible for the growth of this segment includes various advantages or benefits of serum-free media over other types of cell culture media.

In 2022, the biopharmaceutical production segment accounted for the largest share of the application segment in the cell culture media market.

On the basis of application, the cell culture media market is categorized into biopharmaceutical production, diagnostics, drug discovery & development, tissue engineering & regenerative medicine, and other applications. The biopharmaceutical production segment is estimated to grow at the highest growth rate during the forecast period. Factors responsible for the growth include, the growing production of cell culture-based vaccines, and expansion of pharmaceutical industry. The biopharmaceutical production applications of cell culture media include the manufacturing of biologic-based products such as vaccines, monoclonal antibodies, and other therapeutic proteins (such as anticoagulants, enzymes, blood factors, hormones, interferons, growth factors, interleukins, engineered proteins, and thrombolytics, among others).

In 2022, the Asia Pacific region is the fastest-growing region of the cell culture media market.

On the basis of the region, the global cell culture media market has been segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. During the forecast period, the Asia Pacific market is estimated to register the highest CAGR during the forecast period. Increased focus of key market players on geographical expansion in emerging markets, favorable government policies and support for cell-based vaccines in the region and less manufacturing cost are some of the major factors anticipated to have positive impact on the market growth of Asia Pacific region.

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Key players in the cell culture media market include Thermo Fisher Scientific, Inc. (US), Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), Corning Incorporated (US), FUJIFILM Irvine Scientific, Inc. (Japan), Lonza Group AG (Switzerland), Becton, Dickinson and Company (US), Miltenyi Biotec (Germany), and among others.

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Cell Culture Media Market worth $13.0 billion by 2028, growing at a CAGR of 16.0%