Wellesley, Mass., July 26, 2017 (GLOBE NEWSWIRE) --
Continuing medical research and advances are supporting a steady growth in the sale of the building block laboratory items needed in biotechnology. The estimated $3.6 billion biologics industry is expected to see a 5% annual growth in sales through 2021, according to a new report by BCC Research, Global Markets for Media, Sera and Reagents in Biotechnology.
Cells grown in a controlled environment use a combination of media, sera and reagents. This latest study by BCC Research found that competition, R&D and patent expirations are among the market forces affecting industry leaders, GE Healthcare Life Sciences, Corning, Merck KGaA, ThermoFisher Scientific, Lonza Corp. and others. Emerging markets outside the U.S. and Europe are anticipated to grow at a compound annual growth rate (CAGR) of 6.5% from 2016 to 2022.
Research Highlights
- Cell culture reagents accounted for the largest share (42.7%) of the market, and sales in cell culture media are anticipated to reach $1.6 billion by 2022.
- Regulatory oversight, mergers and alliances and brand reputation are key drivers for buyers and sellers in the biologics industry.
- The U.S. will remain the largest market for lab supplies, with a global share above 40 percent.
"Global reach, on the one hand, and regulatory frameworks on the other make this a field an important test of speed and safety. The European Medicines Agency (EMA) and the Center for Biologics Evaluation and Research (CBER) of the U.S. Food and Drug Administration (FDA) all have guidelines as industry standards,” says Robert Hunter, senior healthcare editor at BCC Research. “New cell lines, products proteins and antibodies are being developed at a rapid pace.”
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.