The Business Research Company’s Serum Free Media Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Serum Free Media Global Market Report 2023 evaluates serum free media market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global serum-free media market is expected to grow from $1.29 billion in 2022 to $1.45 billion in 2023 at a compound annual growth rate (CAGR) of 12.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The serum-free media market is expected to reach $2.23 billion in 2027 at a CAGR of 11.3%.
The increasing prevalence of chronic diseases is expected to propel the growth of the serum-free media market going forward. Chronic diseases last for a year or longer and necessitate continuing medical care, restricting everyday activities, or both. Serum-free media allows researchers to optimize the media for the specific cell type used and to ensure that the cells grow under optimal conditions. Further, Researchers use serum-free media to produce cell types or perform specific applications without serum, which helps develop new therapies and treatments for chronic diseases. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, it was projected that by the year 2050, the number of individuals aged 50 years and older who have at least one chronic illness will surge by 99.5%, rising from 71.522 million in 2020 to 142.66 million. Therefore, the increasing prevalence of chronic diseases is driving the growth of the serum-free media market.
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The serum free media market segments in the report are:
1) By Media Type: Chinese Hamster Ovary (CHO) Cell Media, Protein Expression Media, Immunology Media, Insect Cell Media, Hybridoma Media, Stem Cell Media, Chemically Defined Media
2) By Application: Biopharmaceutical Production, Tissue Engineering And Regenerative Medicine
3) By End-User: Biopharmaceutical Companies, Clinical Research Organizations, Academic Research Centers, Other End-Users
The table of contents in TBRC’s serum free media market report includes:
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