Cell Culture Media Bags Market Growth Drives Demand For New & Better Technologies
The cell culture media bags market is expected to expand at CAGR of 10.7% through the forecast period (2020-2030). Demand for cell culture media bags will be driven by growing use in hospitals and health centres .
“Key participants are focussing on new product innovation and FDA approvals to enhance wide-scale development,” states the FMI Analyst.
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Cell Culture Media Bags Market – Important Highlights
- North America exhibits a lucrative opportunity for cell-culture media bags market while East Asia will show steady growth.
- Due to increased research and development on bacterial cell segment, it will remain lucrative in terms of value over the forecast period.
- Biopharmaceutical manufacturing is set to capture 2/3rd market value through 2030.
- Due to high flexibility, 2D bag designs will account for more than half of the market value.
Cell Culture Media Bags Market – Driving Factors
- Increased investments in cancer research and gene therapies are presenting growth opportunities.
- Owing to the increasing need for advanced cell-culture techniques and bags in biopharmaceutical research, demand has witnessed steady growth.
- Reduced cost, product usage, low contamination risks and enhanced production has helped the market in reaching better heights.
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Cell Culture Media Bags Market – Key Restraints
- Lesser use of it in developing economies due to absence of skilled professionals is restricting market growth.
- Certain cell culture media bags can easily be affected by environmental conditions, thereby, increasing contamination risks.
Expected Impact on Market by Coronavirus Outbreak
Due to increased utility of medical and healthcare services, this industry has witnessed a positive growth during COVID-19. Bolstering cases of research and development on various diseases has propelled the demand for cell culture media bags. Total investment on R&D in US was $182.3 billion in 2019 but this value has tripled in 2020 due to coronavirus outbreak. In the similar manner, healthcare investment in Europe reached to 4.22% from 3.95% in 2020. Biopharmaceutical companies are set to offer remunerative opportunities due to inclination towards better healthcare facilities.
The key players in this market include Parker Hannifin Corp, Pall Corporation, Sartorious AG, Thermo Fisher Scientific Inc., and GE Healthcare Inc. Market players are focusing on launching advanced products and tying up with specialized companies. For example,
Thermo Fisher Scientific launched immunoassay for mitragynine screening in forensic applications in the year 2019.
Rim Bio collaborated with Playmouth for improving sales and distribution of bio-containers (single-use) across US.
Key Players are operating on the basis of market shares and manufacturers are focussing on launching innovative products.
More on the Report
The report presents macro as well as micro economic factors with segmentation on the basis of bag size(small, large, medium ) application (storage, mixing, processing, heat transfer, gas exchange etc.), bag type (2D, 3D) end-user (life science R&D, biopharmaceutical manufacturers) and in-depth region wise analysis (North America, Latin America, Europe, and Asia).
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