Biotechnology Media, Sera And Reagents Market Overview:
The global biotechnology media, sera and reagents market was valued at $18,794 million in 2017 and is estimated to reach at $32,974 million by 2025, registering a CAGR of 7.3% from 2018 to 2025.
Biotechnology can be defined as a technological application that uses biological systems, living organisms, and their components to develop innovative products and other technological systems for human welfare. Media, sera and reagents finds their application on several biotechnological research purposes including cancer research, development of biopharmaceuticals, regenerative medicine and other research purposes. In addition, culture media is any solid or liquid preparation made precisely for the growth, storage, maintenance, and transport of microorganisms and different types of cells. The array of various media available in research allows the culturing of cell types and microorganisms. Whereas, sera are used as an additional media supplement used for cell culture, owing to the presence of high content of embryonic growth promoting factors. Further, reagent can be described as a substance or mixture that is used in chemical analysis or other reactions. There are variety of reagents used in biotechnological research such as DNA/RNA isolation reagents, buffers, washing solutions, stains, chemicals and many others.
Rise in research and development regarding the development of biopharmaceuticals have fueled the growth of the global biotechnology media, sera and reagents industry. In addition, the constant expansion of biopharmaceutical research is anticipated to create surge the demand on the production and supply chain for cell culture media and reagents market. Moreover, increase in investments and funding for research interventions in both developed and developing countries drives the market growth. For instance, GE Healthcare, in 2018, has increased its production capacity of powdered cell culture media by tenfold in Austria. This was done owing to the increased demand of powdered cell culture media by the customers in Europe. However, ethical & scientific concerns associated with the potential of misuse of biotechnology research practices and dearth of skilled personnel restrict the biotechnology media, sera and reagents market growth.
However, untapped potential of the emerging markets and increase in preference for specialty media are anticipated to provide lucrative opportunities to the key players involved in the biotechnology media, sera and reagents market.
Type segment review
Based on biotechnology media, sera and reagents market analysis by type, the market is categorized into media, sera and reagents. The reagents segment was the highest contributor to the market in 2017 and is anticipated to maintain its dominance throughout the forecast period. This was attributed to the fact that reagents find their wide applications in various research areas in biotechnology. For instance, various reagents are used for different research purposes.
Application segment review
Based on application, the biotech media, sera and reagent market is classified into cancer research, biopharmaceuticals, regenerative medicine & tissue engineering and others. The biopharmaceuticals segment is anticipated to grow at the highest rate in the forecast period. This is attributed to the significant increase in biotech R&D activities regarding the development of biopharmaceuticals for the treatment of various diseases across the globe.
Region segment review
Based on region, the biotechnology media, sera and reagents market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America dominated the market in 2017, accounting for the highest share, and is anticipated to maintain this trend throughout the forecast period. This is attributed to the increased funding by the government agencies and rise in focus to develop biopharmaceuticals in this region. However, as per biotechnology media, sera and reagents market forecast, Asia-Pacific is projected to register the highest growth rate from 2018 to 2025.
The report provides a comprehensive analysis of the leading companies operating in the global market such as GE Healthcare, Bio-Rad laboratories Inc., Merck KGaA (Sigma Aldrich), Sartorius AG, HiMedia Laboratories Pvt., Ltd, Lonza Group Ltd, Merck & Co., Inc., Thermofisher Scientific, Corning Incorporated, Becton, Dickinson and Company. The other players in the value chain (not included in the report) include Takara Bio, Inc., Cyagen Biosciences, PeproTech, Inc., Avantor Performance Materials, LLC (VWR International, LLC), Caisson Laboratories, Inc., Cell Culture Technologies LLC and Biomol GmbH.
Key Benefits for Biotechnology Media, Sera And Reagents Market:
- The study provides an in-depth analysis of the global biotechnology media, sera and reagents market share with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market size of global biotechnology sera, media and reagent is provided.
- A comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
- An extensive analysis of the key segments of the industry helps understand the global biotechnology media, sera and reagents market trends.
- Key players and their strategies are provided to understand the competitive outlook of the industry.
Biotechnology Media, Sera and Reagents Market Report Highlights
By End User
Key Market Players
Bio-Rad Laboratories Inc., Becton, Dickinson and Company, Lonza Group Ltd, HiMedia Laboratories Pvt., Ltd, Merck & Co., Inc., Thermo Fisher Scientific Inc., GE Healthcare, Sartorius AG, Corning Incorporated
Biotechnology is a comprehensive discipline in which biological processes, microorganisms, cells or cellular components are exploited to develop new innovative technologies for human welfare. New technologies and products developed by biotechnologists find their applications in the field of research, agriculture and industry. Moreover, biotechnology has witnessed an exponential growth in recent years and is anticipated to create tremendous opportunities in the near future as well. The growth of the market is driven by factors such as increase in funding & investment for R&D activities and innovation in the life science industry. In addition, increased focus toward the development of biopharmaceuticals and cancer treatment drugs has led to the increase in demand for culture media, sera, and reagents. Furthermore, significant rise in the use of sera for cell culture and low supply of the same is anticipated to increase the cost in near future. However, scientific and ethical concerns associated with biotechnology and dearth of skilled professionals hamper the growth of the market.
North America accounted for a major market share in the biotechnology media, sera and reagent market owing to the fact that the government agencies in this region have increased their focus toward biotechnology research. In addition, advanced healthcare infrastructure and penetration of leading biotech companies further boost the market growth in this region. Moreover, Asia-Pacific region is anticipated to grow at the highest rate during the forecast period. This is attributed to the rise in small scale biotech companies and increased healthcare infrastructure in this region.