Cell Culture Media Market is Expected to Reach USD 1,290.1 million by 2023

(IT-NEWSWIRE.COM, November 07, 2017 ) A cell culture medium is designed to support the growth of cells, which is composed of appropriate composition of amino acids, vitamins, inorganic salts, glucose, serum, etc. It may contain additional supplementary factors such as growth factors, hormones, etc. depending on the need of different types of cells. Natural media consists solely of naturally occurring biological fluids, while synthetic media have additional components such as serum proteins, carbohydrates, cofactors, vitamins, salts, etc. to natural media. Natural media have poor reproducibility due to lack of knowledge of the exact composition in this natural media. Whereas, chemically defined media contain inorganic and organic ingredients.
The market for cell culture media is growing at an impressive rate due to factors such as growing number of biotech firms, growing demand for biotechnology products, high return on investments, technological advancements, etc. Contamination of cell culture media, presence of heavy trace elements, high cost of the final products, lack of scientific understanding of natural media, issues of reproducibility, quality and specificity especially of natural media, scarcity of serum and animal components, ethical issues regarding use of animal components, etc., may restrain the growth of the market over the forecast period.
Product development represent the best strategy for the development of the market. Another factor is technological advancements in the form of production technology and technical development. The cell culture media production have low production efficiencies and variability in product due to variation and lack of optimization of feed and raw material. Customized specialty media is one of the fastest growing segments, which has proprietary technology.
The global cell culture media market is projected to reach USD 1,290.1 million by the end of 2023 at a CAGR of 9.1 % during 2017-2023.

Taste the market data and market information presented through more than 122 market data tables and figures spread over 130 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Cell culture media Market Research Report –Global Forecast till 2023.”
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Global Cell Culture Media Market Players
Some of the key players in this market: Merck KGaA, Corning Incorporated, GE Healthcare, Thermo Fisher, Lonza, BD, HiMedia Laboratories, and others.
Regional Analysis
Considering the global scenario of the market, North Americas region is accounted the largest market share of 36.1% in 2016. This market is expected to reach USD 478.7 million by 2023 at a CAGR of 9.5 %. Europe market is expected to be the second largest in terms of regions in the global cell culture market, this market is expected to reach USD 374.3 million at a CAGR of 9.3 % during the forecast period 2017-2023. However, the Asia Pacific market is expected to grow at the fastest CAGR of 9.6 % during the forecast period 2017-2023.
Segmentation
Cell culture media market has been segmented on the basis of type, application, and end user.
On the basis of type, the market is segmented into lysogeny broth, chemically defined media, protein free media, serum free media, classical media, custom media, and others.
On the basis of application, the market is segmented into drug discovery and drug development, toxicity testing, cancer research, genetic engineering, tissue engineering & biochemistry, stem cell research, and others.
On the basis of end user, the market is segmented into biotechnology & pharmaceutical companies, research laboratories, academic institutes, pathology labs, and others.
On the basis of region, the market is segmented into North Americas, Europe, Asia Pacific, and the Middle East & Africa.
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Key Finding
• The global cell culture media market is expected to reach USD 1,290.1 million by 2023
• Lysogeny broth segment is expected to command the largest market share of 22.5% and is expected to reach USD 298.6 million by the end of 2023. This market is expected to grow at a CAGR of 9.5% during the forecast period 2017-2023
• Drug discovery and drug development segment led the largest market share of around 23.8% in 2016. This market is expected to reach USD 315.3 million in 2023 and is expected to grow at a CAGR of 9.5% during the forecast period 2017-2023
• Biotechnology & pharmaceutical companies segment is expected to command the largest market share of around 29.3% in 2016. This market is expected to reach USD 386.5 million in 2023 from at a CAGR of 9.4% during the forecast period 2017-2023
• North Americas region held the largest market share of 36.1% in 2016. This market is expected to reach USD 478.7 million by 2023 at a CAGR of 9.5% during the forecast period 2017-2023. However, the Asia Pacific market is expected to grow at the fastest CAGR of 9.6% during the forecast period 2017-2023
Considering the global scenario of the market, North Americas region accounted for the largest market share of 36.1% in 2016. This market is expected to reach USD 478.7 million by 2023 at a CAGR of 9.5 % during the forecast period 2017-2023. Europe is expected to be the second largest global cell culture market in terms of regions and is expected to reach USD 374.3 million at a CAGR of 9.3 % during the forecast period 2017-2023. However, the Asia Pacific market is expected to grow at the fastest CAGR of 9.6 % during the forecast period 2017-2023.
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List of Figures

FIGURE 1 GLOBAL CELL CULTURE MARKET BY TYPE MARKET SHARE 2016 (%) 13
FIGURE 2 GLOBAL CELL CULTURE MARKET BY APPLICATIONS MARKET SHARE 2016 (%) 13
FIGURE 3 GLOBAL CELL CULTURE MARKET BY END USERS MARKET SHARE 2016 (%) 14
FIGURE 4 CELL CULTURE MARKET BY REGION MARKET SHARE 2016 (%) 15
FIGURE 5 GLOBAL CELL CULTURE MEDIA MARKET: MARKET STRUCTURE 17
FIGURE 6 RESEARCH PROCESS 18
FIGURE 7 FORECAST MODEL 21
FIGURE 8 PORTERS FIVE FORCES MODEL 31
FIGURE 9 GLOBAL CELL CULTURE MEDIA MARKET BY TYPE, USD MILLION, 2014-2023 42
FIGURE 10 GLOBAL CELL CULTURE MEDIA MARKET BY APPLICATIONS, USD MILLION, 2014-2023 47
FIGURE 11 GLOBAL CELL CULTURE MEDIA MARKET BY END USERS, USD MILLION 2016 & 2023 52
FIGURE 12 GLOBAL CELL CULTURE MEDIA MARKET BY REGION MARKET SHARE 2016 (%) 55
FIGURE 13 NORTH AMERICA CELL CULTURE MEDIA MARKET BY REGION USD MILLION 2014-2023 56
FIGURE 14 NORTH AMERICA CELL CULTURE MEDIA MARKET BY REGION MARKET SHARE 2016 (%) 56

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Cell Culture Media Market is Expected to Reach USD 1,290.1 million by 2023