Vancouver, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Current Market Scenario (Market estimates)

The global Culture Media Market size was USD 5.43 billion in 2020, and is expected to register a revenue CAGR of 9.3% between 2021 and 2032. Steady market revenue growth is driven by rising need for monoclonal antibodies, growing emphasis on personalized medicine, increasing prevalence of infectious diseases, rising investment in research & development of innovative cell culture products, rising awareness about vaccines based on cell culture, and high demand for single-use technologies.

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Drivers: Increased Investment in Research & Development of Innovative Cell Culture Products

Increased investment in research & development of innovative cell culture products is a key factor driving culture media market revenue growth. Cell culture media is an important component in producing cultivated meat. Cell culture media is necessary to keep the cells healthy and alive. Currently, most of these media are very expensive and oftentimes deliver inconsistent outcomes. A limited number of species-specific formulations of commercial culture media exists in case of cultivated meat firms dealing with fish species. For instance; in September 2020, GFI announced providing a two-year grant to a research project focused on development of a serum-free, high-quality fish cell culture media, which is an essential move in making cultivated seafood to reach market. Researchers at Virginia Tech are developing a formulation for open-source media improved for growing fish cells. This research project deploys artificial neural networks and Response Surface Methodology (RSM) to optimize cell culture media for better thriving of fish cells.

Restraints: Cost Prohibitive Culture Media and Contamination Risks

Cost prohibitive culture media and contamination risks may hamper market revenue growth over the forecast period. Culture media comprise various ingredients such as serum and nutrients for cell growth, which makes the product very costly. Also, issues associated with specificity, variability, and standardization may also impact market revenue growth negatively. Sometimes, ingredients procured from poor sources can lead to contamination risks of cell culture media. This factor would also restrain demand for culture media.

Growth Projections

The global culture media market size is expected to reach USD 15.84 billion in 2032 and register a revenue CAGR of 9.3% over the forecast period, attributed to growing population, especially geriatric population, and rising prevalence of infectious diseases. Increasing prevalence of infectious diseases and rising need for development of more efficient drugs to combat resulting conditions are driving market revenue growth. Infectious diseases are considered to be the foremost cause of mortalities across the globe, particularly in young children living in low-income countries. As per the World Health Organization (WHO), diarrheal diseases and lower respiratory infections were included in the top 10 leading causes of death worldwide in 2019. Culture technologies are considered crucial for identification of infectious diseases, despite significant increase in molecular testing, as pathogenic organisms causing disease are required to be separated from other microbes in mixed cultures. In addition, occurrence of an organism is necessary for assessing the probability that a specific organism is responsible for a said disease, unlike a culture.

COVID-19 Direct Impacts

COVID-19 pandemic has boosted demand for culture media, as many biotechnology firms are conducting in-vitro R&D for vaccines and antivirals. In-vitro assessment of vaccines normally requires a culture media for identifying and analyzing the response and growing targeted microbes. Increasing emphasis on research & development of vaccines by various pharmaceutical companies to curb spread of COVID-19 virus is also propelling market revenue growth.

Current Trends and Innovations

Increasing trend of single-use technologies plays a pivotal role in driving market revenue growth. In the biotechnology industry, use of single-use technologies has become a common practice. Engineers and researchers are utilizing plastic components as an alternative to stainless steel items in biomanufacturing processes. In cell culture production, adoption of single-use is quite essential and these cell growth systems may be wave-type bioreactors, plastic bioreactors, or plastic linings present in stainless-steel support. Reusable or disposable probes are present in all systems that protrude through an interior sleeve or attach to the outside. Majority of the connections depend on separate systems having aseptic/plastic connectors. Single-use systems are pre-cleaned and pre-sterilized, generally via gamma irradiation. Hence, there is no requirement for cleaning, sterilization, or sanitization steps. It saves money on use of chemicals for cleaning, as well as power and equipment needed to produce pure water and steam.

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Geographical Outlook

Culture media market in Asia Pacific is expected to register fastest revenue CAGR during the forecast period, attributed to increasing geriatric population in countries such as Japan and China and increase in prevalence of chronic diseases. In addition, increasing prevalence of contagious diseases, high demand for personalized medication, and presence of biotechnology firms such as Daiichi Sankyo Company Limited and large population base in countries in the region are also contributing to market growth.

Strategic Initiatives

In December 2018, Fujifilm acquired IS Japan (ISJ) and Irvine Scientific Sales Company (ISUS). Both companies have expertise and technological know-how on cell culture media. Irvine Scientific Sales Company distributes its products mostly in Europe and the US, whereas IS Japan distributes its products primarily in Japan and various other Asian countries. Both of these firms offer culture media to bio-ventures, pharmaceutical companies, and academia. Fujifilm is a photography and imaging firm in Japan. It has entered into stock purchase contract worth approximately USD 800.0 million.

Scope of Research

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Major Companies and Competitive Landscape

The global culture media market is moderately fragmented, with a large number of small- and medium-sized companies accounting for a major revenue share. Major companies have well-established facilities and enter in acquisitions & mergers, strategic agreements, and engage in various research & development activities and initiatives to develop & deploy new and more efficient technologies & products in the culture media market. Some major players operating in the culture media market are:

Strategic Development

In December 2019, Sartorius, which is a life science research firm, made an announcement about signing an agreement for the acquisition of Biological Industries. The latter is an Israel-based firm involved in cell culture media development and production. Sartorius would purchase 50% shares of Biological Industries for worth over USD 52.0 million.

Some Key Highlights From the Report

Browse a Detailed Summary of the Research Report @ https://www.emergenresearch.com/industry-report/culture-media-market Emergen Research has segmented global culture media market on the basis of type, research type, application, end-use, and region:

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Global Culture Media Market Size to Reach USD 15.84 Billion in ... - GlobeNewswire