The Viral Vaccine Cell Culture Media Market is Gaining Traction Through Continuous Innovation, 2024
Author : kajal patil | Published On : 20 Jan 2025
The viral vaccine cell culture media market is seeing increased adoption with growing focus on development of new vaccines. Viral vaccine cell culture media find wide application in research and production of viral vaccines including influenza, rotavirus, polio, hepatitis, and others. It provides optimal physiological conditions for growth and maintenance of animal cells used in vaccine production. Various cell types including Vero, MDCK, CHO, and HEK 293 are employed for culture and isolation of viruses.
The viral vaccine cell culture media market is estimated to be valued at USD 1.8 Bn in 2024 and is expected to reach USD 2.7 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.
Key Takeaways
Key players operating in the viral vaccine cell culture media are Thermo Fisher Scientific, Merck KGaA, Cytiva, Lonza Group Ltd., and General Electric (GE) Healthcare.
The growing incidences of viral diseases and increasing focus on development of new viral vaccines are major factors driving the demand for Viral Vaccine Cell Culture Media . Various technological advancements in media formulation have further augmented their adoption in the industry.
Geographic expansion of key manufacturers into emerging markets of Asia Pacific and Latin America is another key trend witnessed in the market. This is attributed to rising biopharmaceutical research and manufacturing activities in these regions.
Market Key Trends
Continuous innovation in viral vaccine cell culture media composition is one of the key trends seen in the market. Major players are focusing on development of advanced media that can support high cell densities, enhance viable cell concentrations, and accelerate viral replication for commercial vaccine production. Customized media formulations as per specific vaccine manufacturing needs is another area attracting R&D investments. This is anticipated to fuel the growth of the viral vaccine cell culture media market over the forecast period.
Porter's Analysis
Threat of new entrants: High capital requirement and intense competition in pharmaceutical and biotechnology industry make barriers to entry high for this market.
Bargaining power of buyers: Buyers have moderate bargaining power as there are few manufacturers that dominate this specialized market. However, standardized products limit switching costs.
Bargaining power of suppliers: Suppliers of raw materials have moderate bargaining power due to availability of substitute materials and supplier contracting practices in the industry.
Threat of new substitutes: Threat of substitutes is low as viral vaccine cell culture media have few alternatives for viral vaccine production in large volumes. However, continuous research could lead to new substitutes.
Competitive rivalry: Market is dominated by few large players. Intense competition exists in areas of new product development, pricing and customer service.
Geographical Regions: Currently, North America accounts for the largest share in the viral vaccine cell culture media market, in terms of value, owing to high healthcare spending and presence of major companies in the region.
Fastest Growing Region: The viral vaccine cell culture media market in Asia Pacific region is expected to witness the highest growth during the forecast period. This is mainly attributed to increasing healthcare expenditure, rising disposable income, growing demand for vaccination in emerging countries such as India and China.
Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)