Global media, sera and reagents in biotechnology market, By Type (Media, Sera, Reagents), By End-user (Research Laboratories, Academic Laboratories, Biotechnology and Pharmaceutical Company, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global media, sera and reagents in biotechnology market was valued at US$ 4.6 Bn in 2020 and expected to reach at a value of US$ 7.4 Bn by 2028 with a significant CAGR of 6.2%.
As per the report, biotechnology is the discipline that deals with living microorganisms, biological systems, and other related components in order to cultivate novel advanced products and other high-tech arrangements for progress and human well-being. Media, sera, and reagents serve their utility on numerous different biotechnological research objectives such as the evolution of biopharmaceuticals, cancer scrutiny, regenerative medications, and other research intentions.
Basically, any liquid or solid preparation formed specifically in order to store, grow, maintain, and transport the microorganisms and several varieties of cells are known as culture media. Moreover, sera act as a supplementary media appendix utilized for cell culture, owing to the occupancy of a huge measure of evolving growth driving factors. Additionally, the reagent can be defined as a material or combination that serves its utility in chemical evaluations or other responses.
There are different kinds of reagents that promote its utility in research activities such as buffers, washing solutions, chemicals, RNA/DNA isolation reagents, and many more. In present times, the increase in research and development activities in the overall field of life sciences and biotechnology is projected to drive the growth of the global media, sera, and reagents in the biotechnology market in the forthcoming future.
The media, sera, and reagents in biotechnology are expected to gain momentum over the past few years as it bridges the gap between R&D and production of advanced products for the human interest, which is resultantly supporting the rapid growth of the global media, sera, and reagents in the biotechnology market.
In addition to that, the burgeoning count of severe diseases among the population all around the world is also contributing to the increasing demand for R&D activities and advanced diagnostic solutions, which in turn accelerating the growth of the global media, sera, and reagents market in the near future.
Notably, there is no rivalry and much lesser competition from biosimilar or generic drugs in the global market, which is expected to propel the growth of the global media, sera, and reagents in the biotechnology market coupled with constant technology advancements concluding in enhancement in market growth.
Along with that, the research about cell therapy, cell growth and differentiation, stem cell biology, and 3D cell culture has gained so much momentum over the past few years, which has also positively contributed to the growth of the global media, sera, and reagents in the biotechnology market.
MMC study identifies some of the key participating players in the media, sera, and reagents in the biotechnology market globally are Athena Environmental Science, Inc., Becton, Dickinson, CellGenix, GE Healthcare, Lonza, and Thermo Fisher Scientific, Inc., among several others.
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