Gene Therapy Cell Culture Media Market to Reach $278.96 Mn, Globally, by 2027 at 10.6% CAGR: Allied Market Research

Gene Therapy Cell Culture Media Market to Reach $278.96 Mn, Globally, by 2027 at 10.6% CAGR: Allied Market Research

PR Newswire

PORTLAND, Ore., Feb. 22, 2021

-Rise in R&D investments, surge in awareness regarding gene therapy, and increase in prevalence of cancer drive the growth of the global gene therapy cell culture media market.

PORTLAND, Ore., Feb. 22, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Gene Therapy Cell Culture Media Market by Media Type (Serum Containing Media, Serum Free Media, Stem Cell Media, Specialty Media, Chemically Defined Media, Lysogeny Broth, Custom Media, and Others), Viral Vectors Type (Retroviruses, Lentiviruses, Adenoviruses, Adeno Associated Virus, Herpes Simplex Virus, Poxvirus, Vaccinia Virus, and Others), and End User (Biotechnology & Pharmaceutical Industry, Academic Institute, Research Laboratory, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global gene therapy cell culture media industry generated $122.60 million in 2019, and is projected to reach $278.96 million by 2027, witnessing a CAGR of 10.6% from 2020 to 2027.

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Prime determinants of growth

Rise in R&D investments, surge in awareness regarding gene therapy, advancements related to gene therapy, and increase in prevalence of cancer drive the growth of the global gene therapy cell culture media market. However, scarcity of skilled professionals, high costs related to gene therapies, and ethical & scientific concerns regarding culture media hinder the market growth. On the other hand, untapped potential of the emerging countries present new opportunities in the coming years.

Covid-19 Scenario

The chemically defined media segment to continue its leadership status during the forecast period

Based on media type, the chemically defined media segment accounted for the largest market share, contributing to nearly one-fifth of the global gene therapy cell culture media market in 2019, and will continue its leadership status during the forecast period. This is due to repeated purchase of consumables and increased funding for cell-based research. However, the serum containing media segment is projected to portray the fastest CAGR of 12.2% from 2020 to 2027, owing to its crucial role in drug development and rise in prevalence of cancer globally.

The adenoviruses segment to maintain its lead position by 2027

Based on viral vectors type, the adenoviruses segment accounted for the highest share in 2019, contributed to more than one-fifth of the global gene therapy cell culture media market, and is estimated to maintain its lead position by 2027. This is attributed to increase in government support and ethical acceptance of gene therapy for cancer treatment. Moreover, the lentiviruses segment is expected to manifest the largest CAGR of 18.0% during the forecast period. This is due to increase in prevalence of genetic disorders, cancer, and infectious diseases along with rise in number of clinical studies.

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North America to maintain its dominance in terms of revenue throughout the forecast period

Based on region, North America contributed to the highest market share in 2019, accounting for nearly half of the global gene therapy cell culture media market, and will maintain its dominance in terms of revenue throughout the forecast period. This is attributed to increase in production capacity for viral gene and virally modified cell therapy products along with presence of majority of key players. However, Asia-Pacific is estimated to register the fastest CAGR of 13.5% from 2020 to 2027, owing to rise in awareness regarding gene therapy for cancer treatment, development of the R&D sector, and surge in research funding.

Leading market players

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