ALBANY, New York, June 21, 2017 /PRNewswire/ --
The report provides detailed analysis of the current and emerging trends of culture media market. The market size has been provided for media type and end-user segments. Based on media type, the market is segmented into dehydrated culture media, prepared culture media, chromogenic culture media and in terms of end users the market is segmented into hospitals, diagnostic centers and academic and research institutes. The report provides forecasts for revenue (US$ Mn) of the products from 2017-2025.
The global Culture Media Market stood at US$5.2 billion in 2016 and is projected to be worth US$10.1 billion by the end of 2025 expanding at a CAGR of 7.7% between 2017 and 2025.
According to media type the market is segmented into dehydrated culture media, prepared culture media, and chromogenic culture media. The dehydrated culture media segment dominated the global culture media market. The trend is anticipated to continue during the forecast period. Growth of the segment is attributed to requirement of large quantity of dehydrated culture media in academic and research institutes. Dehydrated culture media is convenient to use with little space required on the shelf, is waste free, has long shelf life, easy to add and control sensitive autoclave components, and is cost effective.
Prepared culture media was the second largest segment of the global culture media market. Prepared culture media is a ready for immediate use for the isolation of microorganisms. These are prepared in petri plates, bottles, dip slides, and test tubes. Plated media are more cost effective than tubed media and also provide a larger surface area for growth of microorganisms. The chromogenic culture media segment is expected to gain market share during the forecast period. Growth of the segment is attributed to growing application of chromogenic media for isolation of microorganism in the diagnosis of various infections. Chromogenic media has chromogens that produce color on binding with the substrate, and hence provide faster and easy isolation of microorganisms Moreover, increased use of chromogenic culture media in the food and beverage industry for quality testing is likely to drive the segment.
According to end users, academic and research institute segment drives the global culture media market and is expected to dominate the market by registering high CAGR growth of 8.2% during the forecast period. Increasing research activities in pharmaceutical and biotechnology which require large quantity of culture media is expected to boost the growth of the culture media market during the forecast period. Increasing research activities in countries such as Israel, Turkey, and Egypt drive the market. For instance, the Government of Israel offers various financial and technological support programs for biotechnology companies in the country. Israel has over 160 biotechnology companies, with more than 1,700 students graduating from life sciences. Life science research represents approximately 35% of the civilian activities in the country.
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Hospitals segment is the second largest contributor for the growth of global culture media market in terms of end users. According to Eurostat, hospitals accounted for the largest share of the health care expenditure ranging from 25.8% in Slovakia to 45.0% in Denmark, Estonia, Sweden, and Greece. Large scale research activities in countries such as Denmark, Switzerland, the Netherlands, Sweden, and Belgium augment the culture media market in Europe. Presence of nonprofit organizations such as Life Science Switzerland (LS2), the University of Basel, and the University of Zurich where extensive research activities are carried out on molecular life sciences will drive the culture media market in Europe. Hospitals in Europe provide various ancillary services along with inpatient care. This has also fueled the growth of the segment. According to Eurostat, hospitals accounted for the largest share of the health care expenditure ranging from 25.8% in Slovakia to 45.0% in Denmark, Estonia, Sweden, and Greece. Hospitals in Europe provide various ancillary services along with inpatient care. This has also fueled the growth of the segment. Diagnostic centers are the least contributors in terms of revenue for the growth of culture media market, with its major share from comes from Asia Pacific.
Major players operating in the culture media market are Thermo Fisher Scientific, Inc., Merck KGaA (Merck Millipore), Bio-Rad Laboratories, Inc., bioMérieux SA, Becton, Dickinson and Company, HiMedia Laboratories Pvt. Ltd., EIKEN CHEMICAL CO., LTD., NEOGEN CORPORATION, Scharlab, S.L. and others.
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The review presented is based on the findings of Transparency Market Research report, titled "Culture Media Market: (Media Type - Dehydrated Culture Media, Prepared Culture Media, and Chromogenic Culture Media; End User - Hospitals, Diagnostic Centers and Academic, and Research Institutes) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast, 2017 - 2025."
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