Market Research Report
Cell Culture Media Bags Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)
|Cell Culture Media Bags Market - Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027)|
Published: April 28, 2022
Mordor Intelligence Pvt Ltd
Content info: 120 Pages
Delivery time: 2-3 business days
The Cell Culture Media Bags market is projected to register a CAGR of 10% during the forecast period (2022-2027).
The COVID-19 outbreak is expected to have a significant impact on the cell culture media bags market due to the increasing demand for vaccination. The cell culture media bags play a crucial role in the production of vaccination and protein-based drug. The cell culture media bags are extensively used in the developmental phases and trial process of the vaccine candidates. According to the article published by the computational and structural biotechnology journal in 2021, there are 184 vaccine candidates in preclinical testing and other 88 vaccine candidates in clinical phases. Thus, the COVID-19 has impacted the cell culture media bags market positively and contributed to its growth.
The increasing research and developmental activities in the biopharmaceutical sectors are expected to drive the growth of the market. According to the India Brand Equity Foundation, in 2020 there were more than 2700 biotech startups in India and was estimated to reach 10,000 by 2024. Also, Seed Scientific Published in 2021,that over 6,600 biotech companies operate in the United States with active research and development activities. The cell culture media bags allow the growth of the target cells by providing suitable nutrients required for the development of biopharmaceuticals. This remarkable advantage by the cell culture bags increased their demand in the biopharmaceuticals for the expansion, storage, and concentration of cell culture mediums. Thus, the rising demand for biopharmaceuticals drives the growth of the cell culture media bags market. They are also extensively used in stem cell research, oncological studies as the cell culture media bags provide an artificial environment that aids the life cycle of the target cells. The rising prevalence of cancer among the global population and the increasing necessity for the development of treatment is expected to drive the growth of the market. According to Global Cancer Observatory in 2021, around 1.2 million young adults were diagnosed with cancer across the globe. Such increasing cancer cases demand effective treatment therapies which in turn increase the demand for the cell culture media bags as they are widely employed in the study of cancer cells. This is due to the cell culture bags being designed to isolate the procured cells and complete sealing by preventing exposure to the outside environment which helps to study the behavior of cancer cells and design a treatment for the tumor cells.
The factors like the increasing geriatric population who are prone to chronic conditions and diseases drive the demand for biopharmaceuticals which results in the increasing the usage of cell culture media bags by the manufacturers. According to the Centers for Disease Control and Prevention (CDC), in 2020 approximately 85% of older adults had at least one chronic health condition, and 60% had at least two chronic conditions. Therefore increasing geriatric population coupled with the rising demand for biopharmaceuticals is expected to drive the growth of the market.
The sudden outbreak of COVID-19 had increased the demand for biologics in order to treat the infected people and provide vaccinations. The 2D design of the cell culture media bags segment is expected to hold the major share in the forecast period owing to the novel drug development and cell-based studies.
2D design cell culture media bags are expected to hold the major share in the market due to the increasing usage of cell culture media bags in the biopharmaceutical industries for their product development. The increasing demand is due to the increase in research and development activities to conquer emerging diseases such as cancer across the world. Also, the cell culture media bags reduce the cost of production by decreasing the sterilization and cleaning processes. Additionally, the benefits offered by 2D design cell culture bags such as lightweight, high barrier, and decreased contamination cases make them more suitable for the biopharmaceutical industry.
Also, key factors such as increasing expenditure in the research and development by biopharmaceutical industries to novel treatments are expected to show a significant impact on the growth of the market. According to the data published by Organisation for Economic Co-Operation and Development (OECD) in 2020, the pharmaceutical industry spend nearly USD 101 Billion on Research and Development in the OECD countries. Also from the same source, it is reported that global R&D spending by the largest publicly- traded companies grew 13.7% annually. Therefore, the increasing expenditure on the research and development by the biopharmaceutical industry to develop their product pipeline is expected to boost the growth of the studied segment in the market. Hence, the 2D design of cell culture media bags is expected to hold the major market share.
The flourishing presence of pharmaceutical and biotechnology industries which are constantly focussing on the development of new and advanced therapies in the United States region is one of the major factors for the market growth. According to the Research America Organization in 2020, U.S. medical and health research and development reached USD 254.1 billion for the development of novel treatments, which is 67% of the total spending. Also, the quick adoption of technological advancements in gene expression, vaccines, etc in this region is also a contributing factor for the growth of the market. Also, the factors such as the rising prevalence of chronic disorders among the people demanding effective therapies and treatments also increased the demand for the cell culture media bags in this region. For instance, six in ten Americans live with at least 1 chronic condition such as heart disease, cancer, etc as published by the Center for Disease Control and Prevention(CDC) in 2021. Thus the increase in demand for novel treatment therapies contributing to the increasing usage of cell culture media bags is driving the growth of the market in this region. Additionally, the presence of major market players in this region is also a major factor for the growth of the market in this region.
The Cell Culture Media Bags market is fragmented and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Thermo Fisher Scientific, Sartorius AG, Corning Incorporated, Danaher, Fukoku Co., Ltd, OriGen Biomedical, Lonza, Saint Gobain Performance Plastics, Shanghai LePure Biotech Co.,Ltd, Technoflex, and others.