Market Size of Global Culture Media Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Culture Media Market Analysis
The culture media market is expected to register a CAGR of 6.5 % during the forecast period.
The current COVID-19 outbreak is having a positive impact on the growth of the market, as biopharmaceutical innovators are at the forefront of in vitro research and development for the search of vaccine and antiviral. The in-vitro evaluation of vaccine and antivirals generally requires a culture media in which the targeted virus or bacteria is cultured and the response is identified. The rising focus of pharmaceutical industries on research and development is fuelling the demand for culture media. For instance, in March 2020, Dynavax Technologies and Clover Biopharmaceuticals entered into a new research collaboration to develop Clover's vaccine candidate, COVID-19 S-Trimer. The trimer is produced with the help of a rapid mammalian cell culture-based expression system developed by Clover.
The culture media market is expected to grow at high growth rate due to the increasing research and development investment by private and public companies for vaccines and drugs against microorganisms. For instance, as per Clinical Trials.gov, as of February 2020, there were around 1,126 clinical trials going on for antiviral therapeutics. These trials are mainly driven by the fact that there is an increasing burden of viral infections among populations.
As per the annual report of the companies in 2019, Johnson and Johnson invested USD 11.36 billion in research and development (R&D), whereas Roche's R&D expense amounted to CHF 11.7 billion. The recent technological developments by the market players are also contributing to the growth of the market studied. For instance, in October 2019, Thermo Fisher Scientific launched Gibco BenchStable Media, a new cell culture media that remains stable in the room and provides a flexible alternative and reduces the dependence of researchers on cold storage without disrupting the existing workflow. However, the stringent regulatory issues for the use of animal-derived products in culture media are expected to be the restraint culture media market growth.
