The biotechnology industry is expanding rapidly, driven by advancements in drug discovery, cell culture, and genetic research. A crucial segment of this industry involves media, sera, and reagents, which serve as essential components for cell growth, molecular biology experiments, and biopharmaceutical production. The global market for these materials is witnessing significant growth, fueled by increasing demand for personalized medicine, regenerative therapies, and biopharmaceutical innovations.
The global market for media, sera, and reagents in Biotechnology is expected to grow at $6.3 billion in 2024 and is projected to reach $9.3 billion by the end of 2029 at a CAGR of 8.1% over the next decade. This growth is driven by: