Increased investment in research & development of innovative cell culture products is a significant factor driving global culture media market revenue growth
The global Culture Media Market size was USD 5.43 billion in 2020, and is expected to register a revenue CAGR of 9.3% between 2021 and 2032. Steady market revenue growth is driven by rising need for monoclonal antibodies, growing emphasis on personalized medicine, increasing prevalence of infectious diseases, rising investment in research & development of innovative cell culture products, rising awareness about vaccines based on cell culture, and high demand for single-use technologies.
Drivers: Increased Investment in Research & Development of Innovative Cell Culture Products
Increased investment in research & development of innovative cell culture products is a key factor driving culture media market revenue growth. Cell culture media is an important component in producing cultivated meat. Cell culture media is necessary to keep the cells healthy and alive. Currently, most of these media are very expensive and oftentimes deliver inconsistent outcomes. A limited number of species-specific formulations of commercial culture media exists in case of cultivated meat firms dealing with fish species.
For instance; in September 2020, GFI announced providing a two-year grant to a research project focused on development of a serum-free, high-quality fish cell culture media, which is an essential move in making cultivated seafood to reach market. Researchers at Virginia Tech are developing a formulation for open-source media improved for growing fish cells. This research project deploys artificial neural networks and Response Surface Methodology (RSM) to optimize cell culture media for better thriving of fish cells.
Restraints: Cost Prohibitive Culture Media and Contamination Risks
Cost prohibitive culture media and contamination risks may hamper market revenue growth over the forecast period. Culture media comprise various ingredients such as serum and nutrients for cell growth, which makes the product very costly. Also, issues associated with specificity, variability, and standardization may also impact market revenue growth negatively. Sometimes, ingredients procured from poor sources can lead to contamination risks of cell culture media. This factor would also restrain demand for culture media.
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