Mexico Cell Culture Media Market Size & Outlook, 2023-2030
Mexico cell culture media market, 2018-2030 (US$M)
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Mexico cell culture media market highlights
- The Mexico cell culture media market generated a revenue of USD 35.7 million in 2023 and is expected to reach USD 82.3 million by 2030.
- The Mexico market is expected to grow at a CAGR of 12.7% from 2024 to 2030.
- In terms of segment, serum-free media was the largest revenue generating product in 2023.
- Serum-free Media is the most lucrative product segment registering the fastest growth during the forecast period.
Cell culture media market data book summary
| Market revenue in 2023 | USD 35.7 million |
| Market revenue in 2030 | USD 82.3 million |
| Growth rate | 12.7% (CAGR from 2023 to 2030) |
| Largest segment | Serum-free media |
| Fastest growing segment | Serum-free Media |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Serum-free Media, Classical Media, Stem Cell Culture Media, Chemically Defined Media, Specialty Media, Other Cell Culture Media |
| Key market players worldwide | Sartorius AG, Danaher Corp, Merck KGaA, Thermo Fisher Scientific Inc, FUJIFILM Holdings Corp, Lonza Group Ltd, BD, STEMCELL Technologies, PromoCell GmbH |
Other key industry trends
- In terms of revenue, Mexico accounted for 0.8% of the global cell culture media market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Latin America, Brazil cell culture media market is projected to lead the regional market in terms of revenue in 2030.
- Argentina is the fastest growing regional market in Latin America and is projected to reach USD 64.3 million by 2030.
Serum-free media was the largest segment with a revenue share of 36.13% in 2023. Horizon Databook has segmented the Mexico cell culture media market based on serum-free media, classical media, stem cell culture media, chemically defined media, specialty media, other cell culture media covering the revenue growth of each sub-segment from 2018 to 2030.
Mexico is becoming a crucial market in Latin America owing to increased focus on R&D in the country along with strong growth of biopharmaceutical industry due to the low cost of production. Mexico is a diverse country, and it consists of over 180 modern biotechnology companies. This is expected to create opportunities in cell culture media market. The interest of global companies is growing in the nation and collaborations are being formed to enhance the use of cell culture.
For instance, in November 2021, Novo cell Bio entered into a collaboration with Mexico-based TecSalud for development of cell therapy. Tec Salud will continue developing cell therapy in Mexico for the next 5 years. Such developments create demand for consumables, such as cell culture media, in the country. Key players in the market include Sartorius AG, STEMCELL Technologies, Inc., BD, and Thermo Fisher Scientific, Inc.
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Cell Culture Media Market Scope
Cell Culture Media Market Companies
| Name | Profile | # Employees | HQ | Website |
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Mexico cell culture media market size, by product, 2018-2030 (US$M)
Mexico Cell Culture Media Market Outlook Share, 2023 & 2030 (US$M)
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