Global Serum Free Media Market: Overview
Owing to rise in demand for serum free media fir cell culture growth will lead to impressive growth in the global serum free market. It is attributable to its high superiority in terms of consistency from batch to batch. Besides, rising need for immunotherapy worldwide is also contributing to growth in the serum free media market.
Thus, it should not come as a surprise that the global serum free media market is set to chart a robust CAGR (Compound Annual Growth Rate), creating notable opportunities for market players. The will clamor to make the most of these, leaving no stone unturned in the process. Besides, this growth will also translate to a higher market worth over the forecast period of 2019 to 2027.
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Global Serum Free Media Market: Notable Development
Certain developments happening in the market place are transforming the landscape. Some of these are outlined below.
In the year of 2016, the United States (US) based biopharmaceutical companies invested USD 90 billion in research and Development (R&D).This growth in biopharmaceuticals, coupled with increased demand for serum free media will lead to much competition in the market landscape, bringing about growth.
The global serum free media market is consolidated and key names in the global serum free media market are:
- Thermo Fisher Scientific
- Athena Environmental Sciences
- Pan Biotech
- Irvine Scientific
- Biological Industries
- HiMedia Laboratories
Players have a sharp focus on product development through innovation and thus efforts towards research and development are particularly high. And, in order to increase operational footprint on the globe, they often make use of strategies such as mergers and acquisitions. There is also no shying away from strategic collaborations and partnerships in the endeavour of exploring novel synergies, having the potential of translating into profits.
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Global Serum Free Market Media Market: Key trends and driver
The global serum free media market is on a upward growth trajectory owing to various trends and drivers. A glimpse into few potent ones can be had below:
Increase in demand for immunotherapy is noted worldwide. This is a direct outcome of increase in geriatric population, incidence of chronic diseases and rise in infections. By 2050, the world will see one in every six people fall into the age bracket of 65 and above. In North America and Europe, the situation will be more pronounced with one in four people occupying the age bracket for geriatrics. Also, 6 in ever 10people in the United States suffer from chronic diseases. This means there is a need for immunotherapy to be strengthened and this will lead to high growth in the serum free media market.
Besides, a robust pipeline of biologics and biopharmaceuticals is also contributing positively to the growth of serum free media market.
Global Serum Free Media Market: Regional Analysis
A notable chunk of the overall growth of the global serum free media market will be held by North America and Europe. The two regions are marked with presence of some of the most prominent players from the global serum free media market. Besides, the pipeline for biopharmaceuticals and biologics in the region is high, particularly in the North American region.
Another region that will lead to growth in the global serum free market is the Asia Pacific (APAC). The opportunities that region will generate will be untapped and keep the players hooked. Government support, rise in disposable incomes, and high incidence of chronic diseases will lead to growth in this market in the said region.
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