The new report by Expert Market Research titled, ‘Global Serum Free Media Market Report and Forecast 2023-2031’, gives an in-depth analysis of the global serum free media market, assessing the market based on its segments like media type, end-use, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2031)
- Forecast CAGR (2023-2031): 10.04%
The serum-free media market is driven by the increasing production of biopharmaceuticals due to growing number of biologics used for diagnosis of different diseases. The global serum free media market will show an upward growth trajectory owing to rise in the number of infections, increase in incidences of chronic diseases, and growth in the number of people who are occupying the geriatric age group. Rise in demand for immunotherapy is further aiding the growth of serum free media market.
Industry Definition and Major Segments:
Serum free media (SFM) allows researchers to grow a selected cell type or perform a selected application within the absence of serum. Advantages of using serum free media include a more consistent performance, increased growth and productivity, better control over physiological responsiveness, and to reduce risk of contamination by serum-borne adventitious agents in cell culture.
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Based on media type, the industry can be divided into:
- Protein Expression Media
- Stem Cell Media
- Hybridoma Media
- Primary Cell Media
- Insect Cell Media
- Immunology Media
- CHO Cell Culture
- Chemically Defined
The end-uses of the product can be divided into the following:
- Biopharmaceutical Companies
- Clinical Research Organisations
- Academic Research Centres
The regional markets can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Growth in the number of people who are occupying the geriatric age group which will see an additional two billion people belonging to the age bracket of 60 an above in another 30 years. Four in every ten people in the United States alone, are suffering from more than one chronic disease; six in every ten are suffering from at least one, which is leading demand for immunotherapy. Increasing number of CMOs (contract manufacturing organisations) are further expected to enforce serum-free media market. With increasing expenditure on R&D by the biopharmaceutical companies for the evolution of new biological products can enhance the serum-free media market revenue generation in the future.
Key Market Players:
The major players in the market are Lonza Group Ltd., Corning Incorporated, Nippon Genetics Co. Ltd., and MP Biomedicals LLC, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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