Article -> Article Details
Title | Serum-Free Media Market Key Competitors, SWOT Analysis, Business opportunities, Trend Analysis |
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Category | Business --> Healthcare |
Meta Keywords | Serum free Media Market, Serum Free Media Market Share, Serum Free Media Market Report, Serum Free Media Market Analysis, Serum Free Media industry, Protein Expression Media Market, Stem Cell Mediastem Cell Media Market, Hybridoma Media Market, |
Owner | bis swati |
Description | |
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 market for serum-free media 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. View Report -Global Serum-Free Media Market Impact Several techniques are employed in the development of serum-free media utilization for the process of removing cells, tissues, or organs from an animal or plant and putting them into a setting that will help them survive and/or proliferate. The selection of an adequate growth medium for in vitro cultivation is the most significant and important phase in cell culture. A growth medium, also known as a culture media, is a solution, gel, or powder that promotes the development of cells, small plants, or microorganisms. This serum-free medium market space has been segmented into different media types that include common serum-free, xeno-free, chemically-defined, animal component-free, and protein-free. Some of these media types are described in brief as follows: • Common serum-free media: In common serum-free media, the composition is precisely defined, ensuring lot-to-lot consistency and eliminating the need to screen new lots of serum. In addition to facilitating the growth of numerous cell types for study, serum-free media also provide the advantage of removing the threat of infectious pathogens. The common serum-free media does not include human or animal serum or plasma in its direct or basic constituents. 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.
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. Demand – Drivers and Limitations Following are the demand drivers for the global serum-free media market: • Low Risk of Contamination as a Demand Driver The market is expected to face some limitations too due to the following challenges: • Slow Growth Rate in Comparison to Serum-Supplemented Media Key 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 Company Type 2: Serum-Free Media Public Industry
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