Cell Culture Media Market Size Worth $10.2 Billion by 2030: Grand View Research, Inc. – PR Newswire

SAN FRANCISCO, July 21, 2022 /PRNewswire/ -- The global cell culture media market size is expected to reach USD 10.2 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 12.1% from 2022 to 2030. Expansion of biosimilars and biologics, growth in stem cell research, and emerging bio manufacturing technologies for cell-based vaccines are the major factors which are likely to drive the market. For instance, in October 2021, the Australian Government funded the Australian-led stem cell research through USD 25 million in grants.

Key Industry Insights & Findings from the report:

Read 150-page market research report, "Cell Culture Media Market Size, Share & Trends Analysis Report By Product (Serum-free Media, Classical Media), By Type (Liquid Media, Semi-solid And Solid Media), By Application, By End-user, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Cell Culture Media Market Growth & Trends

The expansion of clear, regulatory approval paths for biosimilars in emerging markets is generating great opportunities for biosimilar monoclonal antibodies. The availability of an approval pathway in the U.S., has led to new opportunities for bio manufacturers to enter major markets around the globe. Biosimilar versions of monoclonal antibodies have the probability to offer cost reductions of 25-30%, and many emerging market countries are vigorously developing pathways for approvals and are swiftly catching up. As this industry is expanding the key biopharmaceutical players are adopting robust culturing technologies to meet the increasing demand; thereby driving the growth of the market.

Moreover, there is growing interest in improving the stem cell culture, because this technology is being used extensively in research for studying the stem cell biology, as well as for therapeutic applications. Furthermore, funding related to this research field has augmented in recent years which has accelerated the growth of the market. In addition to this, key media manufacturers launched new products for stem cell research. For instance, in September 2021, Bio-Techne Corporation launched a novel medium for the maintenance and expansion of induced pluripotent stem cells having applications in both translational and research workflows.

The outbreak of COVID-19 pandemic has improved the demand for well-established cell-based vaccine production technologies. Moreover, it has given rise to a few scientific innovations, particularly in the production and testing of vaccine technology. For instance, the Vero line originated from the African green monkey kidney and has been extensively used for viral vaccine manufacturing. It has also been used for the development of various SARS-CoV variants. ProVeroTM1 Serum-free Medium is one such medium manufactured by Lonza Bioscience which is protein-free, and of non-animal origin designed to support the growth of Vero cells and MDCK.

Moreover, in many European countries, cell-based flu vaccines have been approved. A probable advantage of cell culture technology is that it authorizes faster start-up of the manufacturing of vaccines during the pandemic. Today, the development of superior biological models, the optimization of culture growth medium, and the reduced dependence on animal-derived components endure to drive the rapidly developing vaccine development.

On the other hand, ethical issues concerning the use of animal-derived products hinders the industry growth. For instance, FBS is collected from the blood of fetal calves is one of the major ethical issues of serum containing media. It is projected that 600,000 liters of FBS is achieved from up to 1.8 million bovine fetuses are produced globally every year, presenting momentous scientific and ethical challenges. To overcome this issue, numerous workshops were held in the past on the replacement of fetal bovine serum and possible ways to reduce the use of FBS in media.

Cell Culture Media Market Segmentation

Grand View Research has segmented the global cell culture media market based on product, application, type, end-user, and region:

Cell Culture MediaMarket - Product Outlook (Revenue, USD Million, 2018 - 2030)

Cell Culture MediaMarket - Application Outlook (Revenue, USD Million, 2018 - 2030)

Cell Culture MediaMarket - Type Outlook (Revenue, USD Million, 2018 - 2030)

Cell Culture MediaMarket - End-user Outlook (Revenue, USD Million, 2018 - 2030)

Cell Culture MediaMarket - Regional Scope Outlook (Revenue, USD Million, 2018 - 2030)

List of Key Players of Cell Culture Media Market

Check out more related studies published by Grand View Research:

Browse through Grand View Research's Biotechnology Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry JamesCorporate Sales Specialist, USAGrand View Research, Inc.Phone: +1-415-349-0058Toll Free: 1-888-202-9519Email: [emailprotected] Web: https://www.grandviewresearch.com Grand View Compass| Astra ESG Solutions Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg

SOURCE Grand View Research, Inc.

Read this article:
Cell Culture Media Market Size Worth $10.2 Billion by 2030: Grand View Research, Inc. - PR Newswire