ALBANY, New York, November 12, 2018
ALBANY, New York, November 12, 2018 /PRNewswire/ --
According to the reports stated by TMR, the global culture media market is estimated to reach a value of US$10.1 bn by the end of the forecast period which is from 2017 to 2025. The market is anticipated to grow with a CAGR of 7.7% by the end of 2025. As per the end user segment is concerned, the market is seen to be led by hospital segment with an expectation to reach 44.1% by the end of the forecast period.
Increasing Geriatric Population to Boost Market Growth
Culture media is used for controlling and growing microbes with the help of a variety of nutrients that makes it necessary for the growth of the microbes. Culture Media Market is seen to be on the growing scale in the coming years due to a number of factors. One of them being the rise in geriatric or age old population. Because of this reason, infectious diseases are also prevailing by the day. In order to meet the demand of the prevailing infectious diseases, there is increase in demand for antibiotics. However, some bacteria kinds have made themselves resistant to antibiotics and thus, there is the need for far more advanced and improved medications. Thus, the rise in demand for antibiotics is a crucial factor in propelling the market globally.
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Players are putting more effort into research and development programs in order to invent new pharmaceutical products for diagnosis of disease, thus, benefitting the market growth in the future. Factors like the increase in age old population is opening up new growth opportunities for the culture media market. Apart from that, factors like highly prevailing infectious diseases in almost all parts of the world is adding fuel to the growth of the global culture media market. Adding to that, the increasing number of research and development activities in terms of introducing new pharmaceuticals into the market is also contributing to the rising popularity of the market in the long run.
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On a geographical basis, North America regional market is envisaged to rise at a robust 96.7% between 2016 and 2025, mainly because of large contributions from the U.S. market. This is because of the rise in advancing medical technology along with equally accelerating increase in cultural media application all around the region. It is expected that in the coming years, Asia Pacific region is to dominate the culture media market due to the surge in economic growth of the developing regions of India and China and the increasing popularity of the culture media market in the region.
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Strict Process Controls to Hamper Market Growth
Although the market for culture media is seen to be growing at a substantial rate, there may be a few factors that may pull down the market growth rate and create hurdles for its development like the high-end expenditure related to preparing different types of media culture since it requires advanced capabilities for manufacturing. Adding to that, strict rules and regulations imposed in order to control culture media processes may also hamper the future growth of the market.
The global market for culture media is to face high competition owing to the consistency of new discoveries and breakthroughs for culture media, as per the report stated by Transparency Market Research (TMR). The global competitive landscape for culture media market is projected to be fairly consolidated as top five players are seen to hold almost about 60% of the entire market.
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Some of the important players of the global culture media market are Dickinson and Company, Thermo Fisher Scientific Inc., HI Media Laboratories Pvt Ltd., Bio-Rad Laboratories Inc., and Scharlab S.L. There is more focus on merger and acquisition strategies in order to expand the business geographically. Apart from that, the complimentary strength gained by strategic alliances in terms of business is seen to be accelerating the overall culture media market in the long run.
The above review is based on a TMR report, titled, "Culture Media Market: (Media Type - Dehydrated Culture Media, Prepared Culture Media, and Chromogenic Culture Media; End User - Hospitals, Diagnostic Centers and Academic, and Research Institutes) - Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 - 2025".
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