Global petri dish market is estimated to witness high growth, owing to increasing demand for cell culture and expanding biopharmaceutical industry
Global petri dish market is estimated to be valued at USD 491.1 Mn in 2024, exhibiting a CAGR of 4.5% over the forecast period (2024-2031). Rising focus on disease research and drug discovery can boost demand for petri dishes that are used for growing bacterial and fungal cultures.
Market Dynamics:
Global petri dish market growth is primarily driven by increasing R&D investments in cell culture and pharmaceutical industry. Growing prevalence of chronic diseases can boost cell culture research activities. Petri dishes are indispensable laboratoryware for microbiological analysis and cell culturing. Expansion of biopharmaceutical industry can boost their demand. Growing geriatric population prone to infections and implementation of stringent regulations regarding sterilization of labware can also drive the market growth. However, availability of alternative laboratory plastics can hamper the market growth over the forecast period. Ongoing development of advanced petri dishes featuring improved gas permeability and durability can offer growth opportunities in the near future.
Increased focus on drug development and testing
Global petri dish market growth is driven by rising focus on drug development activities and testing across various industries such as pharmaceutical, biotechnology and others. Petri dishes play a vital role in cell culture activities that are used extensively during the research and development of new drugs. With growing expenditure on pharmaceutical R&D and introduction of advanced cell culture techniques, there will be huge demand for petri dishes from drug manufacturing companies. Various market players are also developing advanced petri dishes made of new materials to facilitate better cell growth and testing conditions.
Rising prevalence of chronic diseases
Global petri dish market growth is driven by increasing prevalence of chronic diseases worldwide. As per estimates, chronic diseases affected over 100 million people in the U.S. in 2020. This has enhanced the focus on development of innovative treatment options and diagnostic techniques. Petri dishes is used in disease pathology studies, growing microorganisms to test antibiotic efficacy and other research activities. With rising healthcare burden of chronic illnesses, there will be huge need for effective management through advanced therapies, thus, boosting petri dish consumption.
Stringent regulatory standards
Key challenges faced by petri dish manufacturers and suppliers include fulfilling the stringent quality and safety standards set by regulatory bodies. Petri dishes are widely used in life sciences applications and come in direct contact with cells and microorganisms. Hence, these need to comply with regulations regarding material biocompatibility, sterilization methods, and durability and prevent contamination. Frequent changes in regulatory protocols increases compliance cost, which can hamper small market players.
Availability of advanced alternatives
Availability of advanced cell culture technologies like 3D bioprinting, tissue engineering and microfluidics can hamper the petri dish market growth. These novel techniques does not require conventional petri plates and can emulate in vivo microenvironments better. While still in development phase, such cutting-edge alternatives can replace standard petri dishes in the future, if commercialized on a large scale. This poses a long-term challenge for traditional petri dish providers.
Promising opportunities to leverage
With increasing demand for biopharmaceuticals and process optimization in biomanufacturing, contract service providers are focusing on expanding bioproduction capacities. This presents lucrative opportunities for petri dish manufacturers. The development of advanced petri dishes customized for robust cell growth, high-yield antibody production and other downstream uses can open more revenue streams. Establishing partnerships with bioproduction companies can help capture this untapped opportunity.
Emerging economies in Asia Pacific
Asia Pacific region, with dominant countries like China and India, offers rewarding growth prospects for petri dish suppliers. Factors like increasing healthcare spending, rising academic and industrial research funding, and growing biopharma industry in the region increases petri dish consumption. Catering to emerging requirements from APAC through region-specific product portfolios providing good value can help companies gain a strong foothold.
Link: https://www.coherentmarketinsights.com/market-insight/petri-dish-market-1978
Key Developments:
- In January 2024, EchoStar Corporation completed its acquisition of DISH Network Corporation on December 31, 2023. As part of the merger, DISH Network became a wholly owned subsidiary of EchoStar. Each share of DISH Network Class A and C Common Stock was converted into 0.350877 shares of EchoStar Class A Common Stock, and each share of DISH Network Class B Common Stock was converted into 0.350877 shares of EchoStar Class B Common Stock.
- In May 2023, Avantor, Inc. teamed up with Labguru, a research-to-production platform serving global pharmaceutical companies, national research institutes, and others, to provide high-quality products at the lab bench
- In November 2022, Merck KGaA partnered with Biotheus to expedite the drug submission and approval process for the biopharmaceutical industry in China, thus, increasing demand for labware
- In May 2022, Thermo Fisher Scientific Inc. collaborated with LabShares, a co-working and lab facility for life science and biotech companies,to accelerate early-stage discovery and development through shared lab spaces
- In May 2022, Avantor, Inc. partnered with Cytovance Biologics, Inc., a biologics contract development and manufacturing organization, to enhance the production of high-quality plasmid DNA, thus, supporting research and development efforts
Key Player:
Corning Incorporated, Thermo Fisher Scientific Inc., SARSTEDT AG & Co. KG, Sumitomo Bakelite Co., Ltd., Greiner AG, Avantor Inc., Phoenix Biomedical Products, Crystalgen, Inc., Merck KGaA, BD, Pall Corporation, Gosselin, Narang Medical Limited, Biosigma, Aicor Medical, NEST Biotechnology, Surwin Plastic, Citotest Labware, Huaou Industry, and Membrane Solutions
