Global Culture Media Market is Predicted to Grow at a CAGR of 7.9% during the Estimated Timeframe 2022-2031| [280-Pages] Study by Research Dive
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.
NEW YORK, March 9, 2023 /PRNewswire/ -- Global Culture Media Market Forecast Analysis:
As per the most recent report published by Research Dive, the global culture media market is envisioned to generate a revenue of $5,736.5 million and rise at a CAGR of 7.9% throughout the analysis period from 2022 to 2031.
Segments of the Culture Media Market
The report has divided the market into the following segments:
Media Type: dehydrated culture media, prepared culture media, and chromogenic culture media
Type of Customer: private and public
Lab Size: small labs, medium labs, and large labs
End User: Clinical microbiology labs, food labs, and pharmaceutical labs
Region: North America, Europe, Asia-Pacific, and LAMEA
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Segment |
Sub-Segment (Highest CAGR/Revenue during 2022-2031) |
Media Type |
Dehydrated Culture Media |
The rising demand for novel vaccines, antibiotics, and oral insulin is expected to bolster the growth of this sub-segment.
|
|
Type of Customer |
Private |
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.
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|
Lab Size |
Medium Labs |
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.
|
|
End-User |
Clinical Microbiology Labs |
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.
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|
Region |
North America |
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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Dynamics of the Global Culture Media Market
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 to provide customized treatment to the specific requirements of patients which are expected to boost the growth of the market over the forecast period. However, the lack of skilled professionals and ethical and scientific concerns may impede the growth of the market throughout the growth of the market.
The increasing R&D spending in emerging markets is expected to create wide growth opportunities for the 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.
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.
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
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.
What the Report Covers?
Apart from the information summarized in this press release, the final report covers crucial aspects of the market including SWOT analysis, market overview, Porter's five forces analysis, market dynamics, segmentation (key market trends, forecast analysis, and regional analysis), and company profiles (company overview, operating business segments, product portfolio, financial performance, and latest strategic moves and developments.)
More about Culture Media Market:
- What are the Various Characteristics and Uses of Culture Media?
- Culture Media Market to Observe Significant Growth by 2031 Due to Company Acquisitions and Business Expansion by Market Players, such as Thermo Fisher Scientific, Sartorius AG, and Others
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