Rise in R&D investments, surge in awareness regarding gene therapy, advancements related to gene therapy, and increase in prevalence of cancer drive the growth of the global gene therapy cell culture media market. However, scarcity of skilled professionals, high costs related to gene therapies, and ethical & scientific concerns regarding culture media hinder the market growth. On the other hand, untapped potential of the emerging countries present new opportunities in the coming years.
According to the report published by Allied Market Research, the global gene therapy cell culture media industry generated $122.60 million in 2019, and is projected to reach $278.96 million by 2027, witnessing a CAGR of 10.6% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
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Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “Increase in investments and funding for R&D, innovation in life sciences act as the major driving forces of the global gene therapy cell culture media market. Furthermore, growth in awareness regarding gene therapy is expected to rise in demand notably contribute toward the growth of the market.”
- There has been increase in demand for media such as improved protein-free media for growth and development of viral vectors during the pandemic.
- The demand of gene and cell therapy for development of Covid-19 vaccine has been increased in clinical trials as many gene therapy companies perceive this as an opportunity to find vaccine.
Increase in funding for R&D activities pertaining to gene therapy and growth in awareness regarding gene therapy drive the global market growth. In addition, increase in government support, ethical acceptance of gene therapy for cancer treatment, and rise in prevalence of cancer fuel the growth of the market. However, high cost associated with the treatment and unwanted immune responses are expected to hamper this growth.
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North America to maintain its dominance in terms of revenue throughout the forecast period
Based on region, North America contributed to the highest market share in 2019, accounting for nearly half of the global gene therapy cell culture media market, and will maintain its dominance in terms of revenue throughout the forecast period. This is attributed to increase in production capacity for viral gene and virally modified cell therapy products along with presence of majority of key players. However, Asia-Pacific is estimated to register the fastest CAGR of 13.5% from 2020 to 2027, owing to rise in awareness regarding gene therapy for cancer treatment, development of the R&D sector, and surge in research funding.
Leading market players
- Fujifilm Holdings Corporation
- HiMedia Laboratories Pvt. Ltd.
- Lonza Group Ltd.
- Sartorius AG
- Thermo Fisher Scientific Inc.
- Merck KGaA
- Danaher Corporation
- Takara Holdings Inc.
- Novartis International AG
- Bio-Techne Corporation
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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