Dublin, May 28, 2024 (GLOBE NEWSWIRE) -- The "Global Serum-free Media Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global serum-free media market was valued at USD 1.66 billion in 2023 and is projected to reach USD 6.39 billion by 2034, with a CAGR of 13.04% from 2024 to 2034. Key growth drivers include advancements in serum-free media technology, increased focus on cell-based therapeutics, more FDA approvals, a rise in clinical trials, strategic collaborations, increased funding for stem cell research, and the introduction of new serum-free media products.
In 2023, CHO Media was the highest revenue segment, crucial for developing biotherapeutics. The stem cell medium is expected to grow the fastest due to increased research funding and new product launches, such as PromoCell's PromoExQ MSC Growth Medium in July 2023.
Liquid media led the market by type in 2023, favored for preventing mycobacterial proliferation. Semi-solid and solid media are expected to grow the fastest due to increased R&D and collaborations, exemplified by Moderna and Thermo Fisher Scientific's partnership in February 2022.
Biopharmaceutical production was the highest revenue application segment in 2023, driven by new biosimilars, rising chronic illnesses, and technological advances in antibody therapeutics. Tissue engineering and regenerative medicine are expected to grow the fastest, supported by advancements in chronic disease treatments.
Biopharmaceutical and pharmaceutical companies were the top end-users in 2023, benefiting from new therapeutic introductions and clinical trials. Research and academic institutes are expected to grow the fastest, driven by increased R&D investments.
North America is expected to have the highest revenue share, supported by robust R&D infrastructure and significant investments. For instance, FUJIFILM Holdings invested $188 million in a serum-free media production plant in North Carolina in November 2022. Asia Pacific is projected to grow the fastest due to the demand for innovative treatments, high chronic illness incidence, and increased cell culture investments, highlighted by the Singapore Food Agency's regulatory license to GOOD Meat in January 2023.
Report Scope
- Base Year: 2023
- Forecast Period: 2024-2034
- Market Forecast by Product, Type, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of Top 10+ Major Market Players
Serum-free Media Market Analysis & Forecast by:
Product
- CHO Media
- Vero Medium
- BHK Medium
- HEK 293 Media
- Stem Cell Medium
- Other Serum-free Media
Type
- Semi-solid & Solid Media
- Liquid Media
Application
- Tissue Engineering & Regenerative Medicine
- Biopharmaceutical Production
- Vaccines Production
- Monoclonal Antibodies
- Other Therapeutic Proteins
End-user
- Research & Academic Institutes
- Pharmaceutical & Biotechnology Companies
- Others
Companies Featured
- FUJIFILM Holdings Corporation
- Thermo Fisher Scientific Inc.
- Lonza Group AG
- Merck KGaA
- Danaher
- R&D Systems Inc.
- Corning Incorporated
- Sartorius AG
- MP Bio Medicals
- PAN-Biotech
For more information about this report visit https://www.researchandmarkets.com/r/4hcwak
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