Global Biotechnology Media, Sera, and Reagents Market: Overview
The branch of science dealing with the study of living organisms and their usage to make technological innovations is termed as biotechnology. Media is referred to as a nutrient growth substance that is provided in laboratory as well as research settings for the purpose of growth, proliferation, maintenance, and storage of microorganisms as well as other cell types such as stem cells, mammalian, and other cell lines. A large number of culture media are present in the market for the survival and growth of various cell cultures in their incubation environment. They include classical media, lysogeny broth, serum free media, and chemically defined media. Additionally, sera are utilized as additional growth supplement factors due to the presence of hormones required for cell growth, proliferation, as well as cell differentiation. Moreover, a reagent is a substance that is utilized to stir a chemical reaction and often used to specify the presence of another substance.
Global Biotechnology Media, Sera, and Reagents Market: Key Trends
The biotechnology media, sera, and reagents market is expected to expand at a rapid pace in the coming years. Factors propelling the growth of the biotechnology media, sera, and reagents market include less competition from generic or biosimilar drugs and technological advancements resulting in improvement in market growth. However, the demand for media, sera, and reagents is likely to slow down, owing to the requirement for precision-driven cell culture processes and difficulty in keeping a check on parameters such as aeration, humidity, temperature, and nutrients.
Global Biotechnology Media, Sera, and Reagents Market: Segmentation
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The global biotechnology media, sera, and reagents market can be segmented based on type, end-user, and region. Based on type, the biotechnology media, sera, and reagents market can be segmented into media, sera, and reagents. The reagent segment is anticipated to account for a key market share during the forecast period, owing to the wide applications of reagents in most biotechnological research such as cell culture, biopharmaceutical research, and others. In terms of end-user, the global biotechnology media, sera, and reagents market can be divided into research laboratories, academic laboratories, biotechnology and pharmaceutical company, and others. The biotechnology and pharmaceutical company segment is anticipated to account for a significant market share during the forecast period, owing to a substantial rise in R&D for the development of biopharmaceutical drugs and cancer research.
Global Biotechnology Media, Sera, and Reagents Market: Regional Analysis
Based on region, the biotechnology media, sera, and reagents market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America is expected to constitute a prominent market share, owing to a signficant rise in health care investments by manufacturers and high R&D expenditure incurred by companies for the development of biotechnology media, sera and reagent. Additionally, a rise in the prevalence of food allergies is fuelling the biotechnology media, sera, and reagents market.
The market in Asia Pacific is expected to expand at a high CAGR in the coming years as major players are enhancing their geographical presence in the region and expanding their manufacturing facilities. Moreover, there is an increase in awareness as well as market availability of different reagents & media and a rise in biotech R&D in this region. These factors are expected to propel the growth of the market in the region.
Global Biotechnology Media, Sera, and Reagents Market: Competitive Landscape
Key players in the global biotechnology media, sera, and reagents market include Thermofisher Scientific, Merck KGaA (Sigma Aldrich), HiMedia Laboratories Pvt., Ltd, Lonza Group Ltd, Merck & Co., Inc., Bio-Rad laboratories Inc., Sartorius AG, Corning Incorporated, GE Healthcare, and Becton, Dickinson and Company.
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