Persistence Market Research delivers the key insights on the global serum-free media market in its upcoming report titled “Serum-Free Media Market: Global Industry Analysis 2013–2017 and Forecast, 2018 – 2026”. The global Serum-Free Media market is expected to expand at 7.3% CAGR over the forecast period, 2018–2026.
Global Serum-Free Media Market: Dynamics
The global Serum-Free Media market is segmented based on media type, end user and region. By region, the global serum-free media market is segmented into North America, Latin America, Europe, Asia-Pacific and Middle East & Africa. North America is the most lucrative serum-free media market with revenue share of 33.5% in 2017 due high production and consumption by biopharmaceuticals in the region. Biopharmaceutical industry is the key end user of the market, it invests 12 times more in R&D than other sectors. The intensity of high R&D expenditure further focuses on the US which helps in generating highest revenue through development of innovative biopharmaceuticals. Increasing adoption of biopharmaceuticals for the treatment of various diseases for better therapeutic effect further drives the growth of serum-free media market.
Europe is second most lucrative region in serum-free media market due to high number of biopharmaceutical manufacturing companies in the region coupled with high usage of biologics for diagnosis, prevention and treatment. Increasing spending on clinical trials and academic research using serum-free media further expected to enhance the serum-free media market growth.
Latin America remains one of the least lucrative serum-free media market due to limited number of biopharmaceutical manufacturing sites and lower adoption of biopharmaceutical drugs. However, improving regulatory guidelines can enhance the biopharmaceutical production thereby increases consumption of serum-free media in biopharmaceuticals in Latin America region.
Asia-Pacific serum-free media market remains the fastest growing market due emerging economies like India and China coupled with increasing number of contract manufacturing organizations (CMOs) in the region. Asia-Pacific serum-free media market is expected to expand at the CAGR of 8.8% over the forecast period. Increasing spending on the R&D in academics and improving regulatory scenario for biologics further expected to enhance serum-free media market in the region. Comparatively lower cost of biopharmaceutical production in the region further attracts the biopharmaceutical companies to invest, driving the serum-free media market growth.
Serum-free media market growth further expected to be enhanced due to high number drugs in clinical trials. In the US and Europe more than 900 biopharmaceutical products are in some phase of clinical development and of which around 77% of them are produced in the mammalian cell culture system
Out of total new drug approvals by FDA in 2017, 26% of it were biologics. The approval of biologics has increased from 7 in 2016 to 12 in 2017 and this trend is expected to remain indicating the amount of total clinical trials going on using biopharmaceuticals coupled with increasing adoption of serum-free media for cell culture
The rapidly growing opportunity of serum-free media in biopharmaceuticals is difficult to ignore. Biopharmaceutical represents more than 20% of total pharmaceutical industry revenue generation and which is only growing year by year with significant rate
The protein content of the overall media is significantly reduced in case of serum-free media, it makes the downstream processing easier as compared to serum containing media. Since the cell environment can be controlled to more extent in serum-free media which makes downstream process comparatively easier
Serum may contain hazardous bacteria, fungi or any other components, it has been one of the major concerns for the biopharmaceutical manufacturers, and this led to eliminating animal derived component from the manufacturing procedure. Whereas, serum-free media eliminates all these risks, which makes it a preferred medium for cell culture
Request for Report Sample : https://www.persistencemarketresearch.com/samples/15373