Serum-Free Media Market to reach $5.1 billion by 2032 with CAGR of 13.0%
From GlobeNewswire: 2025-01-14 09:08:00
The Serum-Free Media Market was valued at USD 1.7 billion in 2023, projected to reach USD 5.1 billion by 2032 with a CAGR of 13.0%. Rising chronic diseases drive demand for biopharmaceutical products and serum-free media for quality control. FDA and EMA preference for serum-free media ensures predictability and reproducibility in drug manufacturing.
Nearly 60% of U.S. adults have chronic conditions, increasing demand for biologics. Over 40 new biologic therapies approved by FDA recently highlight reliance on serum-free media for manufacturing. Regulatory bodies closely monitor safety and consistency, driving preference for serum-free media to meet standards. Increased development of biologics fuels demand for quality cell culture systems using serum-free media.
Major players in the Serum-Free Media Market include Thermo Fisher Scientific, Merck KGaA, Lonza Group AG, Corning Incorporated, and GE Healthcare. The market size was USD 1.7 billion in 2023, with a projected size of USD 5.1 billion by 2032. Key growth drivers include rising demand for biopharmaceuticals, advanced cell culture technologies, and favorable regulations.
The serum-free media market is led by media products that remove animal serum, offering controlled cell culture environments. Biopharmaceutical production accounted for 72% of revenue in 2023, with a trend towards using serum-free media for biologics production. Pharmaceutical and biotechnology companies captured the largest share of revenue in 2023, using serum-free media for biologics, cell therapies, and vaccines production. Serum-free media market is growing, with applications in drug discovery, vaccine development, and cell-based assays. North America dominates with a 37% share in 2023, due to key contributors in biopharma and biotechnology. The Asia-Pacific region is seeing rapid expansion, driven by demand for biopharmaceutical products and advanced cell culture technologies.
In November 2023, Thermo Fisher Scientific released new serum-free media for cell culture applications, aimed at enhancing cell growth and productivity. Lonza Group AG launched a customized serum-free medium for gene therapy applications in October 2023, optimized to support viral vector growth and high-quality gene therapy products.
To access a comprehensive analysis of the serum-free media market, check out the detailed report available at SNS Insider. The report covers market dynamics, competitive landscape, regional analysis, company profiles, and more. Stay informed and make confident decisions in the ever-changing market landscape.
Read more at GlobeNewswire: Serum-Free Media Market Projected to Surpass USD 5.1