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Serum-Free Media Market Analysis & Future Scope
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The global serum-free media market is progressing rapidly with a significant increase in research and development activities pertaining to a wide range of animal component-free products for disease detection, accentuating their criticality in healthcare. Serum-free media has a critical role in the cellular diagnostics approach, as it ensures the safe and effective application for improved cell culture and cell therapy-based methods.
The global serum-free media market was valued at $1,022.4 million in 2021 and is expected to reach $3,920.5 million by 2032, registering a CAGR of 12.73% during the forecast period 2022-2032. The growth in the global serum-free media market is expected to be driven by factors such as the low risk of contamination in the media, rising awareness of media-based diagnostic testing, and significant number of funding for executing research and development.
Recent Developments in the Global Serum-Free Media Market
• In August 2022, Thermo Fisher Scientific Inc. expanded the cell culture media manufacturing facility in Grand Island, New York, to support the production of new vaccines and biologics. This expansion would support the worldwide media supply and increase the capacity to create high-quality technologies.
• In May 2022, FUJIFILM Irvine Scientific completed its new bioprocessing innovation and collaboration center in China. The new center would enable local resources and expertise required to optimize cell culture media and workflows to aid the production of vaccines, advanced therapies, and biotherapeutic drug development in China.
• In September 2021, Bio-Techne Corporation developed a new medium ExCellerate IpsC expansion medium, for IpsC research in regenerative medicine.
• In April 2021, PromoCell GmbH launched an upgrade to its Keratinocyte Cell Culture Portfolio. The company expanded its improved animal-extract-free Keratinocyte Growth Medium 3 for the standardized isolation and development of juvenile and adult Normal Human Keratinocytes.
• In March 2021, the company also launched its improved third-generation Melanocyte Cell Culture Portfolio. Melanocyte Growth Medium M3 is a serum-free, bovine pituitary extract (BPE)-free, and phorbol myristate acetate (PMA)-free media formulation.Impact of COVID-19
The current global serum-free media market comprises different media types. The unexpected crisis of the pandemic has surged the demand for essentials and thus, increased the demand for serum-free media. There was increased demand for serum-free media from biopharmaceutical companies. Overall, the impact of COVID-19 on the global serum-free media market size has been low-moderate. Some of the market players have reported a slight decline in sales. However, it is worth mentioning that with the ease of restrictions after Q2 2021, the market for serum-free media gained significant momentum and is anticipated to grow during the forecast period 2022-2032. As a result of the pandemic and reduced output at manufacturing facilities, the pandemic caused a short-term drop in manufacturing and sales of serum-free media. The global serum-free media market will eventually return to its usual growth trajectory over time. With many people impacted by COVID-19 all around the world, pharmaceutical companies are ramping up manufacturing to create vaccinations. Such trends are generating revenue potential for serum-free media market participants. Lonza Group AG, a Swiss multinational chemicals and biotechnology firm, is earning notoriety for its non-animal ProVeroTM1 Serum-free Medium, which aids in vaccine manufacture.
Demand – Drivers and Limitations
Following are the demand drivers for the global serum-free media market:
• Low Risk of Contamination as a Demand Driver
• Launch of innovative products in Serum-Free Media Ecosystem
• Low reception cost involving small and medium enterprises in comparison to animal derived mediaThe market is expected to face some limitations too due to the following challenges:
• Slow Growth Rate in Comparison to Serum-Supplemented Media
• Requirement of Diverse Cell-Type for Specific Media FormulationKey Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
Company Type 1: Serum-Free Media Private Industry
• MP BIOMEDICALS.
• HiMedia Laboratories
• RD Systems, Inc.
• Sino Biological, Inc.
• PAN-Biotech.
• PromoCell GmbH
• Athena Environmental Sciences, Inc.
• STEMCELL Technologies Inc.Company Type 2: Serum-Free Media Public Industry
• Corning Incorporated
• Lonza Group AG
• Merck KgaA
• Sartorius AG
• Thermo Fisher Scientific Inc.
• FUJIFILM Holdings Corporation
• Danaher.Get Free Sample Report - https://bisresearch.com/requestsample?id=1361type=downloadKey Questions Answered in Report
- What is the role of media type in serum-free media, and what are the advantages associated with serum-free media? What is the importance of recombinant proteins in cell culture applications?
- What are the key trends in the global serum-free media market? How is the market evolving, and what is its future scope?
- What are the major drivers, challenges, and opportunities of the global serum-free media market?
- What are the key developmental strategies implemented by the key players in the global serum-free media market to sustain the competition of the market? What is the percentage share of each of the key players in different key developmental strategies?
- What is the regulatory scenario of the global serum-free media market? What are the initiatives implemented by different governmental bodies and guidelines put forward to regulate the commercialization of serum-free media products?
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