Culture Media Market to Garner $5,736.5 Million by 2031 at a CAGR of 7.9% During the Forecast Period from 2022–2031

The global culture media market is expected to observe prominent growth by 2031, owing to the increasing R&D investments for innovation in life science. Regionally, the North America region is expected to hold the largest share of the market.

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Dynamics of the Market

Drivers: The increasing biopharmaceutical and pharmaceutical R&D investments in new drug development to treat a wide range of chronic and rare diseases are expected to upsurge the growth of the culture media market during the analysis timeframe. Besides, the rising use of genomics is helping medical practitioners provide customized treatment to the specific requirements of patients expected to boost the market’s growth over the forecast period.

Opportunities: The increasing R&D spending in emerging markets is expected to create wide growth opportunities for the culture media market over the estimated period. Moreover, the increase in clinical trials in developing countries, an increase in access to technologies, and an improvement in healthcare infrastructure are expected to register exponential growth during the analysis timeframe.

Restraints: The lack of skilled professionals and ethical and scientific concerns may impede the growth of the market throughout the growth of the market.

COVID-19 Impact on the Global Culture Media Market

The outbreak of the COVID-19 pandemic has had a moderate impact on the culture media market. This is mainly because various private research laboratories, companies, and academic institutes have stopped their research activities due to the implementation of strict lockdowns and stringent government norms regarding social distancing during the pandemic. Moreover, the research organizations working on R&D and the study of cell lines were unable to obtain raw materials for culture media research during the crisis. However, the vaccine development activities to immunize the global population against the COVID-19 virus have offered wide growth opportunities for the market over the pandemic period.

Segments of the Market

The report has divided the culture media market into various segments based on media type, type of customer, lab size, end-user, and region.

Based on media type, the dehydrated culture media sub-segment held the largest market share in 2021. The rising demand for novel vaccines, antibiotics, and oral insulin is expected to bolster the growth of this sub-segment. In addition, the anticipated rise in R&D investments for next-generation biologics development is set to boost the demand for dehydrated culture media in the coming years.

Based on type of customer, the private sub-segment is predicted to witness the fastest growth during the forecast period. The active participation of private laboratories in research-oriented projects like studying cell morphology and stem cell proliferation is predicted to fuel the growth of this sub-segment.

Based on lab size, the medium labs sub-segment is predicted to grow at the fastest CAGR during the forecast period. The increasing R&D activities, investments, and innovations in the life sciences in the medium labs are expected to propel the growth of the market sub-segment.

Based on end-user, the clinical microbiology labs sub-segment is predicted to witness significant growth by 2031. The clinical microbiology labs have huge contributions to basic research on the pathogenesis and mechanisms of action of antibiotics, immunological preparations, and many more are expected to uplift the growth of this sub-segment.

Based on region, The North America culture media market is anticipated to be the most dominant by 2032. The rising investments in cell-based research and the increasing incidences of diseases such as cancer are expected to be the main growth driver of the regional market.

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Key Players of the Global Market

The major players of the culture media market include Fujifilm Holdings Corporation, Corning Incorporated, Merck & Co., Inc., HiMedia Laboratories Private Limited, Lonza, Thermo Fisher Scientific Inc., CellGenix GmbH, BioMérieux SA, Sartorius AG, BD, and many more. These players are broadly working on the development of new business strategies and tactics such as mergers and acquisitions, partnerships and collaborations, and product development to attain a leading position in the global industry. For instance, in September 2022, Ajinomoto Corporation, a Japanese multinational food and biotechnology corporation announced its collaboration with JSR Corporation, a renowned materials company. With this collaboration, Ajinomoto Corporation aimed to its biopharmaceutical culture media business, adding new high-performance media developed by JSR.

The report also presents other important aspects such as the financial performance of the key players, SWOT analysis, latest strategic developments, and product portfolio.

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