New York, USA, May 05, 2021 (GLOBE NEWSWIRE) -- Research Dive recently published a new report titled, “Culture Media Market, by Media type (Dehydrated Culture Media, Prepared Culture Media, Chromogenic Culture Media), Application (Cancer Research, Biopharmaceutical Research, Regenerative Medicine, Stem Cell Technologies, Drug Discovery, Others), End-user (Biotech & Pharmaceutical Industry, Academic Institute & Research Centers, Hospital & Diagnostic Centers, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2020–2027”
The global culture media market is predicted to witness a significant growth in revenue from $2,975.6 million to over $5,398.6 million at a steady CAGR of 7.7% from 2020-2027.
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Regional Analysis
The North American market is predicted to garner a significant revenue in the forecast period. This growth is due to the rising numbers of people suffering from chronic illnesses. In order to change this, many organizations have been working on creating advanced medicines, which will assist in the recovery of the patients.
Key Market Segments in the Industry
- By media type, the dehydrated culture media is predicted to gain momentum in the market. Many dehydrated media have a longer shelf life, which makes them suitable to be used in industrial microbiology – cosmetics, vaccine production, animal health and clinical microbiology- human and veterinary. This is one of the main factors for the growth of this sub-segment.
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- By application, the cancer research sub-segment is set to dominate the market, with a revenue share of 27.6% in 2019. The need for more research and development which can help in coming up with some medications for various types of cancer, has been a primary factor in propelling the market further.
- By end use, the biotech and pharmaceutical sub-segment is set to dominate the market with a revenue share of 50.6% in 2019. This is due to the rising demand for advance therapies as well as need to establish more biotechnology industries is fuelling the growth of the segment.
Market Dynamics
Many individuals today are suffering from many incurable yet chronic diseases which make it extremely essential, that the biotechnology companies work on finding a solution to this. The rising demand among people for more gene based therapies as well as the need for more R&D in the field have helped in the growth of the market.
Additionally, with every industry moving towards being more digital, many biopharmaceutical companies still struggle to find the right kind of technology. The need to implement more automation along with process modelling is essential. If not implemented it could create a gap and become barrier in the growth of the market.
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Key Players and Strategies
According to the report, some of the key players in the market are -
- BioMÉerieux SA
- BD
- HiMedia Laboratories Private Limited
- Merck & Co.
- Lonza
- Sartorius AG
- Thermo Fisher Scientific Inc.
- Fujifilm Holdings Corporation
- Corning Incorporated
- CellGenix GmbH
For instance, CellGenix GMBH, a global leader for supply of raw materials for cell and gene therapies, expanded their production facility recently. This was done to include a state-of-the-art automated filing and a freezing drying line.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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