According to a new report published by Allied Market Research, titled,"Biotechnology Media, Sera and Reagent Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018 - 2025,"The global biotechnology media, sera and reagents market was valued at $18,794 million in 2017 and is projected to reach $32,974 million by 2025, growing at a CAGR of 7.3% from 2018 to 2025. North America was the highest revenue contributor in 2017 and would remain the same throughout the forecast period.
Biotechnology is the branch of science that deals with the study of living organisms and their use to make technological innovations. Media is a nutrient growth substance provided in laboratory and research settings for growth, proliferation, maintenance, and storage of microorganisms and other cell types such as stem cells, mammalian, and other cell lines. Different culture media are available in the market for various cell cultures to survive and grow in their incubation environment such as lysogeny broth, serum free media, classical media, chemically defined media among others. In addition, sera are used as additional growth supplement factors owing to the presence of hormones necessary for cell growth, proliferation, and differentiation of cells. Further, reagent is a substance that is used to cause a chemical reaction. Reagents are often used to indicate the presence of another substance.
Based on biotechnology media, sera and reagents market trends by type, the reagent segment accounted for the majority of market share of the global market in 2017. This is attributed to the fact that reagents find their wide applications in all most biotechnological research such as cell culture, biopharmaceutical research and others.
Based on end user, the biotechnology and pharmaceutical company generated the maximum revenue of in 2017. This segment is anticipated to exhibit prominent growth rate, due to significant rise in R&D for the development of biopharmaceutical drugs and cancer research.
Key Findings of the Biotechnology Media, Seraand Reagent Market:
- Based on end user, research laboratories accounted for nearly one-third share of the biotechnology media, sera and reagents industry in 2017.
- The biopharmaceuticals application segment is anticipated to grow with the highest CAGR throughout the forecast period.
- Based on region, North America accounted for nearly two-fifth of the global biotechnology media, sera and reagents market share in 2017.
- Asia-Pacific is anticipated to grow at the highest rate in the biotechnology media, sera and reagents market during the analysis period, followed by LAMEA.
North America was the leading revenue contributor to the global market in 2017, owing to increase in healthcare investments by manufacturers, surge in R&D expenditure for the development of biotechnology media, seraand reagent, and growth in prevalence of food allergies. Asia-Pacific is expected to witness the highest growth rate throughout the forecast period, due to increase awareness & availability about different reagents & media in the market, increase in biotech R&D, and growth in presence of key market players in this region.
The report provides an extensive competitive analysis and profiles of the key market players, 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) are Takara Bio, Inc., Cyagen Biosciences, PeproTech, Inc., Avantor Performance Materials, LLC (VWR International, LLC), Caisson Laboratories, Inc., Cell Culture Technologies LLC and Biomol GmbH.