The culture media market is expected to register a CAGR of 6.5 % during the forecast period.
The current COVID-19 outbreak is having a positive impact on the growth of the market. As biopharmaceutical innovators are at the forefront of in vitro research and development for the search of vaccine and antiviral. The in-vitro evaluation of vaccine and antivirals generally require a culture media in which the targeted virus or bacteria is cultured, and the response is identified. The rising focus of pharmaceutical industries on research and development is fuelling the demand for culture media. For instance, in March 2020, Dynavax Technologies and Clover Biopharmaceuticals entered into a new research collaboration to develop Clover's vaccine candidate, COVID-19 S-Trimer. The trimer is produced with the help of a rapid mammalian cell culture-based expression system developed by Clover.
The culture media market is expected to grow at high growth rates mainly due to the increasing research and development investment by private and public companies for vaccines and drugs against microorganisms. For instance, as per Clinical Trials.gov as of February 2020, there were around 1,126 clinical trials going on for anti-viral therapeutics. These trials are mainly driven by the fact that there is an increasing burden of viral infections among populations.
As per the annual report of the companies in 2019, Johnson and Johnson invested USD 11.36 billion in research and development (R&D), whereas Roche's R&D expense amounted to CHF 11.7 billion Also, the recent technological developments by the market players is also contributing to the growth of the market studied. For instance, in October 2019, Thermo Fisher Scientific launched Gibco BenchStable Media, a new cell culture media that remains stable in the room and provides a flexible alternative and reduces the dependence of researchers on cold storage without disrupting the existing workflow. However, the stringent regulatory issues for the use of animal-derived products in culture media is expected to be the restraint culture media market growth.
Key Market Trends
Biotechnology and Pharmaceutical Industry Segment is Expected to Witness a Healthy Growth Over the Forecast Period
By End-User Biotechnology and Pharmaceutical Industry segment is expected to hold a significant market share in the forecast period. The major factor propelling the growth of the market includes the growing burden of infectious disease and increasing research and development initiatives by the biotechnology and pharmaceutical companies.
As per the Centers for Disease Control and Prevention (CDC), in 2018-2019 about 35.5 million people were suffering from influenza in that time frame. Also, in June 2019, Cidara Therapeutics Inc., a biotechnology company focused on developing novel anti-infectives, reported that the company is developing CB-012, its Cloudbreak antiviral Fc-conjugate (AVC) candidate for influenza. These clinical trials are expected to increase the procurement of culture media to perform clinical tests o various drug molecules. In order to cater to the market demand, the key players are making significant developments. For instance, in October 2018, Thermo Fisher Scientific completed the acquisition of the Advanced Bioprocessing business from Becton, Dickinson, and Company. The acquisition was a part of Thermofisher's strategy to acquire Advanced bioprocessing's cell culture media, supplements, and feeds in order to enhance its market share. Also, in September 2019, Nucleus Biologics, launched the Concierge Media Manufacturing Services, to speed the time from discovery to cure by offering customization and optimization of cell culture media with providing the list of components in each media formulation. All these developments are the major factors propelling the market growth.
North America is Expected to Dominate the Market in the Forecast Period
Regionally, North America holds the dominant share of the global cell culture media market. The factors attributing to the largest share are the rise in research and development investments, technological advancements associated with cell culture media, and high demand for cell culture media fuel the growth of the culture media market in this region In North America, the pharmaceutical industry is one of the most research-intensive organizations. The industry is deeply invested in applying innovative solutions to enhance the pipeline development to support improvements in patient care. The federal government (United States) is the primary source of funding in the biotechnology sector. As per the estimates of the Pharmaceutical Research and Manufacturers Association, the United States firms conducted over half the world's R&D in pharmaceuticals. in 2018. Approximately 79.6 billion has been invested in biopharmaceutical research and development in the United States in the year 2018. In addition, the market growth in the current pandemic situation is also fuelled by the federal government research funds to support pharmaceutical companies to focus more on research and developments to strengthen their clinical development pipelines. For instance, in July 2020, Novavax and Regeneron received USD 2 billion in funding from the federal government to manufacture drugs and vaccines against COVID-19. According to the National Institute of Health data, in the fiscal year 2017, clinical research funding by the NIH was around USD 12.7 billion U.S. dollars and it was further increased to USD 15 billion in 2019. Moreover, most of the global manufacturers of culture media are active in the North American region which is fuelling the growth of the overall regional market to a large extent.
The Culture Media Market is moderately competitive and consists of several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Becton, Dickinson and Company, Bio-Rad Laboratories Inc, Caisson Laboratories, Inc, Cell Culture Technologies LLC, Corning Incorporated, Fujifilm Holdings Corporation, GE Healthcare, HiMedia Laboratories Pvt., Ltd, Lonza Group Ltd, Merck & Co., Inc.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 High Funding for Research and Development
- 4.2.2 Technological Advancements
- 4.3 Market Restraints
- 4.3.1 Stringent Regulatory Issues
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Media Type
- 5.1.1 Chromogenic Culture Media
- 5.1.2 Dehydrated Culture Media
- 5.1.3 Prepared Culture Media
- 5.2 By End User
- 5.2.1 Biotechnology and Pharmaceutical Industry
- 5.2.2 Academic Institute
- 5.2.3 Others
- 5.3 Geography
- 5.3.1 North America
- 18.104.22.168 United States (By Media Type, and By End User)
- 22.214.171.124 Canada (By Media Type, and By End User)
- 126.96.36.199 Mexico (By Media Type, and By End User)
- 5.3.2 Europe
- 188.8.131.52 Germany (By Media Type, and By End User)
- 184.108.40.206 United Kingdom (By Media Type, and By End User)
- 220.127.116.11 France (By Media Type, and By End User)
- 18.104.22.168 Italy (By Media Type, and By End User)
- 22.214.171.124 Spain (By Media Type, and By End User)
- 126.96.36.199 Rest of Europe (By Media Type, and By End User)
- 5.3.3 Asia-Pacific
- 188.8.131.52 China (By Media Type, and By End User)
- 184.108.40.206 Japan (By Media Type, and By End User)
- 220.127.116.11 India (By Media Type, and By End User)
- 18.104.22.168 Australia (By Media Type, and By End User)
- 22.214.171.124 South Korea (By Media Type, and By End User)
- 126.96.36.199 Rest of Asia-Pacific (By Media Type, and By End User)
- 5.3.4 Middle East and Africa
- 188.8.131.52 GCC (By Media Type, and By End User)
- 184.108.40.206 South Africa (By Media Type, and By End User)
- 220.127.116.11 Rest of Middle East and Africa (By Media Type, and By End User)
- 5.3.5 South America
- 18.104.22.168 Brazil (By Media Type, and By End User)
- 22.214.171.124 Argentina (By Media Type, and By End User)
- 126.96.36.199 Rest of South America (By Media Type, and By End User)
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Becton, Dickinson and Company
- 6.1.2 Bio-Rad Laboratories Inc.
- 6.1.3 Biospherix
- 6.1.4 Caisson Laboratories, Inc
- 6.1.5 Cell Culture Technologies LLC
- 6.1.6 CellGenix GmbH
- 6.1.7 Corning Incorporated
- 6.1.8 Fujifilm Holdings Corporation
- 6.1.9 GE Healthcare
- 6.1.10 HiMedia Laboratories Pvt., Ltd.
- 6.1.11 Lonza Group Ltd.
- 6.1.12 Merck & Co., Inc.
- 6.1.13 Sartorius AG
- 6.1.14 Sekisui XenoTech, LLC
- 6.1.15 Thermo Fisher Scientific
7 MARKET OPPORTUNITIES AND FUTURE TRENDS