Europe to be the Second Most Lucrative Region in the Global Serum-Free Media Market During 2018-2026

Healthcare, Pharmaceuticals & Medical Devices April 23, 2019 Matt

The worldwide market for serum-free media is likely to foresee a remarkable expansion throughout the assessment period because of growing implementation for cell culture expansion. The expansion of the overall market is fuelled by the rising biopharmaceutical production, rising costs on R&D, an increment in the number of clinical trials utilizing serum-free media, growing number of contract manufacturing organizations (CMOs), enhanced utilization of biopharmaceuticals for the treatment of several diseases. The worldwide market for serum-free media is anticipated to grow at CAGR of 7.3% throughout the assessment period, 2018–2026. The worldwide market on the basis of revenue is estimated to touch US$ 2,240.1 Million towards the end of 2026.

Based on the media type, the worldwide market is segmented into stem cell media, protein expression media, hybridoma media, insect cell media, primary cell media, immunology media, chemically defined media and Chinese hamster cell (CHO) culture media. The CHO culture media is likely to remain dominant in the worldwide market as well as is projected to represent the absolute highest prospect of US$ 22.3 Million during 2018 over 2019. This is primarily because of extensive utilize in therapeutic protein manufacturing. The CHO cell culture media is high in Europe and North America owing to a huge number of biopharmaceutical organizations in the region. While chemically defined media remains the least lucrative in the worldwide market. Based on the end users, the worldwide market is categorized into academic research centers, clinical research organizations, and biopharmaceutical companies.

Region-wise, the North America regional market is foreseen to be the most lucrative market for serum-free media along with reflected a market revenue share of about 33.5% in the year 2017 as a result of high consumption and production by biopharmaceuticals in the region. The Europe regional market is a second top lucrative regional market for serum-free media by reason of the huge number of biopharmaceutical production companies in the region together with the high utilization of biologics for treatment, prevention, and diagnosis. The Latin America regional market continues to be one of the least productive markets for serum-free media by reason of an inadequate number of biopharmaceutical production sites as well as lower acceptance of biopharmaceutical drugs. The Asia-Pacific market for serum-free media continues to reflect the quickest expanding market owing to developing nations such as China and India together with the rising number of CMOs (contract manufacturing organizations) in the region. This market is moreover anticipated to grow at an 8.8% CAGR throughout the period of forecast.

The foremost market players operating in the worldwide market are Merck KGaA, Thermo Fisher Scientific Inc., Lonza, GE Healthcare, Irvine Scientific, Corning Incorporated, PAN Biotech, STEMCELL Technologies Inc., PromoCell GmbH, MP Biomedicals, LLC and others.