The global culture media market size was $2,975.6 million in the year 2019 and is estimated to account for $5,398.6 million till 2027, growing at a CAGR of 7.7%.
COVID 19 pandemic has had an unprecedented impact on the global culture media market. Culture media is a solid, liquid, or semi-solid medium designed to support growth of microorganisms or cells, thereby playing a vital role in vaccine production. The unprecedented situation of the pandemic has fostered the development of vaccines and biologics for the treatment of the novel coronavirus. The growing demand for vaccine and novel treatment options will spur the demand for the culture media in COVID 19 Pandemic.
The Indian pharmaceutical industry is the third-largest in the world. It manufacturers almost 60% of vaccines used against tetanus, diphtheria, and pertussis required by the World Health Organization (WHO). Moreover, generic medicines are playing an important role in the fight against COVID 19 pandemic. India has been meeting more than 20% of the world’s and nearly 50% of the US’s generic medicine requirements. Unfortunately, Indian pharmaceutical companies depend heavily on China for API and intermediates with China catering to approximately 70% of company’s requirements.
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Earlier, China was the COVID 19 hotspot. To curb the spread of novel coronavirus China had shut down its manufacturing units which led to disruption in logistic and supply chain. Disruption in supply chain has led to the shortage of essential intermediates, thereby affecting normal functioning of companies. Furthermore, strict government regulations and guidelines for movement of people had adverse effect on logistics, owing to which the price of raw materials has skyrocketed. This has led to an increase in the price of finish products thereby putting financial burden on buyers.
Culture Media Market Drivers: Cell culture is one of the vital tools used in cellular and molecular biology. Cell culture is used as a model system for studying the basic physiology and biochemistry of selected cells. By studying physiology, their aging process can be studied and their biochemistry allows processes such as metabolic rate to be observed. Furthermore, cell interaction with drugs could be studied which proves to be a useful tool for drug screening programs, clinical trials, and large scale production of biological compounds such as vaccines and therapeutic proteins. Owing to the high cost involved in setting up cell culture technology infrastructure, number of contract researches and manufacturing companies are steadily increasing. Moreover, increasing incidence of chronic and rare diseases has led to an increase in investment in cytology and related research, driving the demand for cell culture.
The global culture media market is categorized into media type, application, end user and region.
On the basis of media type, the global market has been segmented into dehydrated culture media, prepared culture media, and chromogenic culture media. The dehydrated media segment was the highest contributor to the market, with $1,396.6 million in 2019, and is estimated to reach $2,454.7 million by 2027, at a CAGR of 7.3% during the forecast period. The dominance of the segment is attributed to the easy availability and wide application of dehydrated culture media in day-to-day operation of most microbiology laboratories.
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Based on application, the market is classified into cancer research, biopharmaceutical research, regenerative medicines, stem cell technologies, drug discovery, and others. Cancer research market was valued at $821.7 million in 2019, and is projected to reach $1,493.9 million by 2027, growing at a CAGR of 7.8% from 2020 to 2027. Stem cell technologies market was valued at $389.6 million in 2019, and is projected to reach $760.8 million by 2027, growing at a CAGR of 8.7% from 2020 to 2027.
Based on end user, the market is segmented into biotech & pharmaceutical industry, academic institutes & research lab, hospitals & diagnostic centers, and others. The biotech and pharmaceutical segment was the highest contributor to the market, with $1,505.9 million in 2019, and is estimated to reach $2,752.3 million by 2027, at a CAGR of 7.8% during the forecast period.
On the basis of geography, the global culture media market was investigated across the regions including North America, Europe, Asia-Pacific and LAMEA. North America was the highest revenue contributor, accounting for $1,136.7 million in 2019, and is estimated to reach $470.39136 million by 2027, with a CAGR of 26.4%. North America is estimated to reach $1,927.3 million by 2027, at a significant CAGR of 6.8%. Asia-Pacific is expected to grow with a highest CAGR of 8.4% from 2020 to 2027 owing to the improving healthcare infrastructure and growing access to novel medicine.
The Key players operating in the global culture media market include BioMÉerieux SA, BD, Thermo Fisher Scientific Inc., HiMedia Laboratories Private Limited, Fujifilm Holdings Corporation, Merck & Co., Corning Incorporated, Lonza, CellGenix GmbH, and Sartorius AG. The players operating the market are focusing on partnership and acquisition to gain market share.
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