Serum Free and Specialty Media Market to Reach $6.9 billion, Globally, by 2033 at 11.6% CAGR: Allied Market Research

/EIN News/ -- Wilmington, Delaware , Feb. 12, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Serum Free and Specialty Media Market by Product (CHO Media, HEK Media, Hybridoma Media, and Others), Application (Biopharmaceutical Production, Tissue Engineering and Regenerative Medicine, and Others), and End User (Pharmaceutical and Biotechnology Companies, Research and Academic Institutes, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the serum free and specialty media market was valued at $2.3 billion in 2023, and is estimated to reach $6.9 billion by 2033, growing at a CAGR of 11.6% from 2024 to 2033. 

Increase in R&D expenditure in biopharmaceuticals, rise in demand for biologics and monoclonal antibodies, and rise in the adoption of biosimilars are the major factors that drive the growth of the serum-free and specialty media market. 

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Prime determinants of growth 

Increase in R&D expenditure in biopharmaceuticals, rise in demand for biologics and monoclonal antibodies, and rise in the adoption of biosimilars are the major factors that drive the growth of the serum-free and specialty media market. However, the lack of a skilled workforce and high initial investment and operating costs may restrict market growth. Moreover, the demand for high-purity, animal-component-free media is rising as personalized medicine gains traction in treating diseases like cancer, genetic disorders, and autoimmune conditions. 

Report coverage & details: 

Report Coverage	Details
Forecast Period	2024–2033
Base Year	2023
Market Size in 2023	$2.3 Billion
Market Size in 2035	$6.9 Billion
CAGR	11.6%
No. of Pages in Report	300
Segments covered	Product Type, Application, End User, and Region
Drivers	Rise in Biopharmaceutical Production  Advancements in Specialty Cell Culture Technology  Growth In Personalized Medicine and Cell-Based Therapies
Opportunities	Navigating Strict Regulatory Requirements and High Costs
Restraint	The shift towards animal-free, sustainable, and ethical research practices

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The CHO media segment held the largest market share in 2023. 

By product type, the CHO media segment held the largest market share in 2023, accounting for more than one-third of the serum free and specialty media market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to register the highest CAGR of 11.6% during the forecast period. This is attributed to the widespread adoption of CHO (Chinese Hamster Ovary) media in biopharmaceutical manufacturing, particularly for the production of monoclonal antibodies and recombinant proteins. CHO cells are widely recognized for their robust growth characteristics, scalability, and compatibility with serum-free formulations, making them a preferred choice in the biopharmaceutical industry. 

The bio-pharmaceutical production segment held the largest market share in 2023. 

By application, the bio-pharmaceutical production segment held the largest market share in 2023, accounting for nearly half of the serum free and specialty media market revenue and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to register the highest CAGR of 11.5% during the forecast period. This is attributed to the growing demand for biopharmaceuticals, including monoclonal antibodies, vaccines, and recombinant proteins, which rely heavily on serum-free and specialty media for efficient and scalable production. Serum-free media reduces the risks associated with contamination and variability, ensuring consistency and compliance with stringent regulatory standards. 

The pharmaceutical and biotechnology companies segment held the largest market share in 2023. 

By end user, the pharmaceutical and biotechnology companies segment held the largest market share in 2023, accounting for more than half of the serum free and specialty media market revenue and is estimated to maintain its leadership status throughout the forecast period. This is attributed to the increase in research and development (R&D) activities, rise in demand for biologics, and the adoption of advanced cell culture technologies. Pharmaceutical and biotechnology companies are investing heavily in developing innovative biopharmaceuticals, such as monoclonal antibodies, vaccines, and gene therapies, which require serum-free and specialty media for consistent and scalable production. 

North America held the largest market share in 2023. 

Region wise, North America dominated the market share in 2023, accounting for around two-fifths of the serum free and specialty media market revenue, owing to the presence of a well-established and advanced biopharmaceutical industry. In addition, the increasing prevalence of chronic diseases and the growing demand for biologics and biosimilars further drive market growth in North America. The availability of skilled professionals and strong collaborations between academia and industry also enhance the adoption of advanced serum free and specialty media solutions in the region. 

However, Asia-Pacific is expected to register the highest CAGR of 12.3% during the forecast period owing to the increase in demand for biologics, biosimilars, and therapeutic proteins is driving the adoption of serum-free and specialty media in the region. Asia-Pacific is witnessing rapid growth in its biopharmaceutical industry due to rising healthcare needs, expanding patient populations, and increased investment by governments and private entities in biomanufacturing infrastructure. Countries like China and India are emerging as key hubs for biopharmaceutical production and contract manufacturing organizations (CMOs), driven by lower production costs and favorable regulatory environments. 

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Leading Market Players: 

• Sartorius AG 

• Danaher Corporation 

• Fujifilm Holdings Corporation 

• MERCK KGAA 

• Lonza 

• Pan-Biotech 

• Corning Incorporated 

• MP Biomedicals 

• Bio-Techne 

• Thermo Fisher Scientific Inc.        

The report provides a detailed analysis of these key players in the serum free and specialty media market. These players have adopted strategies such as expansion, product launches, partnership, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. 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. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. 

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