With the emergence and long-term Impact of COVID-19, the Global Serum-free Media Market is to reach USD 3.9 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Serum-free Media Market is poised to raise up to USD 3.9 Billion by 2030. Serum-free media contains proper ratios of nutrients and hormones because they don’t require animal serum for cell growth. Serum-free media for cell culture has a number of advantages, including increased productivity and consistency as well as easier purification and downstream processing. In addition, serum-free media formulations can contain combinations of selective growth agents for specific cell types. Serum-free medium formulations are available for many primary cultures and cell lines, including hybridoma cell lines, Chinese hamster ovary (CHO) lines that produce recombinant proteins, and cell lines that act as hosts for virus production (e.g., 293, VERO, MDCK, MDBK).
The market growth of serum-free media is driven by factors such as rising focus on cell-based therapeutics, growing production of new biopharmaceuticals and large-scale manufacturing with CHO cells in cell culture. Moreover, increasing funding in stem cell research and raising awareness of media-based diagnostic testing may create abundant opportunities for the market in the forecast years. In September 2021, the California Institute for Regenerative Medicine awarded Stanford physician-researchers almost USD 31.0 million to begin the first-in-human stem cell clinical trials for the treatment of heart failure, stroke, and a specific form of spinal cord and brain tumor. However, the high cost of production process and high research and Development costs may stifle market growth throughout the forecast period of 2023-2030.
Geographically, the global Serum-free Media Market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 with the largest market share due to the existence of a strong R&D infrastructure and a supportive regulatory environment, both of which are quickly changing to accommodate the sector’s continual scientific advancement. For instance, in November 2022, FUJIFILM Holdings Corporation invested USD 188.0 million in Research Triangle Park (RTP), North Carolina, to construct a manufacturing plant for serum-free media. However, Asia Pacific is expected to be the fastest-growing region during the forecast period, due to more R&D and clinical trial programs for chronic and serious illnesses every year.
The global Serum-free Media Market is highly competitive owing to the presence of several key manufacturers such as Sartorius AG, FUJIFILM Holdings Corporation, Lonza Group AG, STEMCELL Technologies, PromoCell GmbH, Thermo Fisher Scientific Inc., and others.
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Global Serum-free Media Market Size study & Forecast, by Product (CHO Media, HEK 293 Media, BHK Media, Vero Medium, Stem Cell Medium, Other Serum-free Media), by Application (Biopharmaceutical Production, Monoclonal Antibodies, Vaccines Production, Tissue Engineering & Regenerative Medicine, Other Therapeutic Proteins), by Type (Liquid Media, Semi-Solid & Solid Media), by End-User (Pharmaceutical & Biotechnology Companies, Research & Academic Institutes, Other End-Users) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Serum-free Media Market is anticipated to grow with a healthy growth rate of more than 13.03% over the forecast period 2023-2030.
- In the Product segment, CHO Media emerged as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to a supportive regulatory environment.
- Asia Pacific is expected to grow at a high CAGR followed by North America during 2023-2030.
Bizwit Research & Consulting has considered the following segments for the study:
- CHO Media
- HEK 293 Media
- BHK Media
- Vero Media
- Stem Cell Media
- Other Serum-free Media
- Biopharmaceutical Production
- Monoclonal Antibodies
- Vaccines Production
- Tissue Engineering & Regenerative Medicine
- Other Therapeutic Proteins
- Liquid Media
- Semi-solid & Solid Media
- Pharmaceutical & Biotechnology Companies
- Research & Academic Institutes
- Other End-Users
- North America
- Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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