SEATTLE, May 29, 2019 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global cell culture media for vaccine market was valued at US$ 1,235.5 million in 2017, and is projected to exhibit a CAGR of 7.7% over the forecast period (2018 – 2026).
Key Trends and Analysis of the Cell Culture Media for Vaccine Market:
Market players are majorly focusing on developing vaccines that cater to diseases that have high potential to cause epidemics. For instance, in February 2017, an India-based drug firm, Cipla, in collaboration with Serum Institute of India, introduced a Hepatitis B vaccine for the adult population in the country. The disease chronically affects over 40 million people in the country, as per India’s Universal Immunization Programme. Moreover, Dynavax Technologies Corporation received the U.S. FDA approval in 2018, for its two-dosed Hepatitis-B vaccine indicated for adults aged 18 years and older.
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Moreover, in order to increase adoption of serum alternatives, various serum-free databases and alternative cell culture concepts/systems need to be developed, and existing platforms need to be extended to allow widespread use of serum-free media options in countries with resource limited settings. For instance, a U.K. based organization set up the group ‘Focus on Alternatives' in order to replace animal derived products in experiments. It has also compiled a document called ‘Serum-free media for cell culture’, which provides an overview of the range of commercially available serum-free media.
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Key Market Takeaways:
- The cell culture media for vaccine market is expected to exhibit a CAGR of 7.7% during the forecast period (2018 – 2026), attributed to increasing prevalence of infectious diseases such as flu, thereby propelling demand for vaccines, globally. For instance, according to the Center of Disease Control and Prevention (CDC), and National Center for Immunization and Respiratory Diseases (NCIRD), 2016, around 28.5 million flu illnesses and around 375,000 patients are hospitalized each year due to influenza and medical complications related to it in the U.S.
- North America is expected to witness significant market growth over the forecast period, as key players in the region are focused on adopting merger and acquisition strategies to expand their geographical presence. In August 2018, LAMPIRE Biological Laboratories acquired over 180 acre corporate dairy farms located adjacent to the existing corporate farm facilities in Pennsylvania, U.S. The acquisition was made to offer valuable biological raw materials to diagnostic and research companies worldwide.
- Market players are focused on developing innovative solutions that will help to trace the serum’s country of origin, as different countries of origin represent different risk levels in terms of virus contamination. For instance, in 2017, GE Healthcare and Oritain launched a test-based traceability program to authenticate the country of origin of Fetal Bovine Serum (FBS), thereby ensuring that customers receive high quality products with lower risks
- Key players operating in the global cell culture media for vaccine market include HiMedia Laboratories, Thermo Fisher Scientific Inc., Merck KGaA, General Electric Company, Sartorius AG, Proliant, Inc., Bovogen Biologicals Pty. Ltd., Rocky Mountain Biologicals, Valley Biomedical, Moregate BioTech, Atlanta Biologicals, Creative-Biolabs, Life Technologies (India) Pvt Ltd., Axil Scientific Pte Ltd., Indian Immunologicals Limited, Serum Institute of India Pvt. Ltd., Sisco Research Laboratories Pvt. Ltd., and Valneva SE
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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.