Culture Media Market Growth – at a CAGR of 9.3% During Forecast Period 2020-2028
Rising prevalence of infectious diseases worldwide and growing need for personalized medicine are among the key factors boosting market revenue growth
According to Emergen Research, the global culture media market size was USD 5.43 billion in 2020 and is expected to reach USD 11.10 billion in 2028 and register a revenue CAGR of 9.3% during the forecast period, 2021-2028.
Market Dynamics:
Major factors contributing to the global culture media market revenue growth over the forecast period are rising prevalence of infectious diseases worldwide, increasing focus on development of personalized medicine, increasing use of culture media in pharmaceutical microbiology, and growing demand for culture media quality and standardization. Culture media plays an integral role in microbiological tests, including pure culture procurement, growing & counting of microbial cells, and cultivation & segregation of microorganisms.
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High-quality culture media helps achieve precise and reproducible microbiological test results. Microbiological culture media promotes the growth and survival of microorganisms and also aids in regulating the pH value and osmotic pressure of the culture. Rapidly rising cases of the novel coronavirus disease across the globe, rise in pharmaceutical and biotechnological research & development programs, increased government & private investments in COVID-19 vaccine development, increasing demand for advanced biologics and targeted therapeutics, and rising awareness of the benefits of culture media are some of the other major factors expected to drive market revenue growth.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Cell Therapy Segment to Account for Fastest Revenue CAGR:
The cell therapy segment dominated other segments in terms of revenue share in the global market in 2020. Increasing biopharmaceutical R&D activities and clinical studies on cell-based therapies, rise in government and private funding for cancer research, and increasing government initiatives to promote cell-based research are key factors supporting revenue growth of this segment.
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Regenerative Medicine Segment Accounted for Largest Revenue Share in 2020:
The regenerative medicine segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Increasing R&D activities in the field of regenerative medicine, growing use of culture media in development of regenerative medicine, rising prevalence of chronic diseases including cancer and diabetes, and rapid adoption of novel cell and gene therapies are among the major factors driving revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America culture media market accounted for largest revenue share in the global market in 2020. Rising prevalence of chronic diseases such as diabetes and cancer, introduction of novel and more advanced culture media solutions, increasing government and private investments in pharmaceutical and biotechnological R&D projects, latest advances in fields of cancer research and regenerative medicine, and presence of leading market players in the region, such as Thermo Fisher Scientific and Becton, Dickinson, and Company are some major factors expected to drive North America market revenue growth.
Major Companies in the Global Culture Media Market Include:
- Becton, Dickinson, and Company
- Lonza Group AG
- Danaher Corporation
- Himedia Laboratories
- Thermo Fisher Scientific
- CellGenix GmbH
- Merck KGaA
- STEMCELL Technologies Inc.
- Corning Incorporated
- Infors AG
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For the purpose of this report, Emergen Research has segmented the global culture media market based on type, research type, application, end-use, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Chemically Defined Media
- Lysogeny Broth
- Classical Media
- Specialty Media
- Serum-free Media
- Stem-cell Media
- Custom Media Formulation
- Others
Research Type Outlook (Revenue, USD Billion; 2018–2028)
- Cell Therapy
- Cytogenetics
- Others
Application Outlook (Revenue, USD Billion; 2018–2028)
- Cancer Research
- Drug Discovery
- Regenerative Medicine
- Tissue Engineering
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Pharmaceutical & Biotechnology Companies
- Research Laboratories
- Academic Research Institutes
- Others
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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