The culture media market will grow in the forecast period. The prepared culture media segment will be the most lucrative. The cancer research segment will garner the highest revenue and North America region will gain the highest profits.
NEW YORK, Oct. 19, 2020 /PRNewswire/ -- Research Dive has published a new report titled, "Culture Media Market, by Application (Cancer Research, Regenerative Medicine, Biopharmaceutical Research, Stem Cell Technologies, Drug Discovery, Others), Media type (Dehydrated Culture Media, Prepared Culture Media, Chromogenic Culture Media), End-user (Biotech & Pharmaceutical Industry, Academic Institute & Research Centers, Hospital & Diagnostic Centers, Others), Regional Analysis (North America, Asia-Pacific, Europe, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027".
The Culture Media Market stood at a healthy market size of $ 2,975.6 million in 2019 and is estimated to beat the $ 5,398 million mark by 2027 with a significant CAGR of 7.7%, according to the report published by Research Dive.
The North America Culture Media Market will produce maximum profits in the estimated time period. The market share of the culture media elevated drastically in the year 2019 and will continue to incline in the forecast period. The rise in rampant incurable diseases has shifted the focus of companies on innovations and biologics for countering such incurable diseases. These factors are harnessing the market growth in this region.
Quick Access to Sample Report [80 pages] of Culture Media Market: https://www.researchdive.com/download-sample/413
Impact of Covid-19 on the Culture Media Market
The culture media market has been affected worldwide due to the onset of coronavirus disease. Government regulations' pertaining to curb the virus have impacted the staff of the pharmaceutical industries gravely. This has hampered the functioning of biopharmaceutical industries and disrupted the supply chain as well. Moreover, disruptions in logistics have affected the prices of the raw materials, eventually affecting the market as a whole quite drastically.
Culture media is used for growing microorganisms or cells that aid in vaccine production. The demand for a vaccine to counter the Covid-19 outbreak will enhance the culture media market in the pandemic period.
How COVID-19 Impact on Culture Media Market, Request to Download Sample Report
Key Segment Findings of the Market
The report bifurcates the market into segments based on media type, application, end-user, and regional analysis.
- Based on media type, the prepared culture media sub-segment is foreseen to be the fastest growing in the forecast period. The augmented demand for high quality media in clinical microbiology and various industries has taken the market forward. Moreover, the enhanced use of automation in the industries has also surged the market growth. These all features are fueling the market growth.
- According to the application mode, the cancer research segment will grow at a substantial CAGR of 27.6% in the forecast period This segment will garner tremendous revenue in the projected forecast period as well. The research and development sector experienced a rise in expenditure for producing sophisticated and novel medicines in treating cancer. This aspect is responsible for the market growth.
- The biotech and pharmaceutical sub-segment in the end-user category will grow at a notable CAGR of 50.6 % in the forecast period and will continue to dominate the market. Every day the demand for drugs, therapies, and vaccines is escalating; therefore the research and development investments are also increasing. This trait is igniting the culture media market.
Several biopharmaceutical industries are aiming to create unique innovations in the field of life sciences, thus boosting the investments in the research and development sector. Moreover, the demand for improved therapies and drugs has enriched the market growth. These all aspects are stimulating the market growth.
However, lack of skilled experts in the field of computer science, automation, and modeling process are the reasons for hindrances the market growth.
Furthermore, the lenient government policies, availability of raw materials, and research and development financing will open up huge opportunities in the culture media market.
Top 10 Key Players of the Culture Media Industry
- Thermo Fisher Scientific Inc.
- HiMedia Laboratories Private Limited
- BioMÉerieux SA
- Fujifilm Holdings Corporation
- Merck & Co.
- Corning Incorporated
- CellGenix GmbH
- Sartorius AG.
These prominent businesses are opting for numerous inorganic and organic strategies such as partnerships and acquisitions to elevate their position in the global culture media market.
Beyond this, the report states numerous faucets of all the significant players working in the market such as product portfolio, financial performance, developments and recent strategic moves, and SWOT (strengths, weakness, opportunities, and threats) scrutiny. Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]
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