Market Trends of Global Culture Media Industry
This section covers the major market trends shaping the Culture Media Market according to our research experts:
The Biotechnology and Pharmaceutical Industry Segment is Expected to Witness a Healthy Growth Over the Forecast Period
By end user, the biotechnology and pharmaceutical industry segment is expected to hold a significant market share in the forecast period. The major factor propelling the growth of the market includes the growing burden of infectious disease and increasing research and development initiatives by the biotechnology and pharmaceutical companies.
As per the Centers for Disease Control and Prevention (CDC), in 2018-2019, about 35.5 million people were suffering from influenza in that time frame. In June 2019, Cidara Therapeutics Inc., a biotechnology company focused on developing novel anti-infectives, reported that the company is developing CB-012, its Cloudbreak antiviral Fc-conjugate (AVC) candidate for influenza. These clinical trials are expected to increase the procurement of culture media to perform clinical tests o various drug molecules. In order to cater to the market demand, the key players are making significant developments. For instance, in October 2018, Thermo Fisher Scientific completed the acquisition of the Advanced Bioprocessing business from Becton, Dickinson, and Company. The acquisition was a part of Thermofisher's strategy to acquire Advanced bioprocessing's cell culture media, supplements, and feeds in order to enhance its market share. Also, in September 2019, Nucleus Biologics launched the Concierge Media Manufacturing Services to speed the time from discovery to cure by offering customization and optimization of cell culture media by providing the list of components in each media formulation. All these developments are the major factors propelling the market growth.
North America is Expected to Dominate the Market in the Forecast Period
Regionally, North America holds the dominant share of the global cell culture media market. The factors attributing to the largest share are the rise in research and development investments, technological advancements associated with cell culture media, and high demand for cell culture media fuel the growth of the culture media market in this region. In North America, the pharmaceutical industry is one of the most research-intensive organizations. The industry is deeply invested in applying innovative solutions to enhance pipeline development to support improvements in patient care. The federal government (United States) is the primary source of funding in the biotechnology sector. As per the estimates of the Pharmaceutical Research and Manufacturers Association, the United States firms conducted over half the world's R&D in pharmaceuticals in 2018. Approximately 79.6 billion was invested in biopharmaceutical research and development in the United States in 2018. In addition, the market growth in the current pandemic situation is also fuelled by the federal government's research funds to support pharmaceutical companies to focus more on research and developments to strengthen their clinical development pipelines. For instance, in July 2020, Novavax and Regeneron received USD 2 billion in funding from the federal government to manufacture drugs and vaccines against COVID-19. According to the National Institute of Health data, in the fiscal year 2017, clinical research funding by the NIH was around USD 12.7 billion, and it was further increased to USD 15 billion in 2019. Moreover, most of the global manufacturers of culture media are active in North America, which is fuelling the growth of the overall regional market to a large extent.
