Cell line development market is fragmented into bio-production, tissue engineering, research, toxic testing, regenerative medicine and drug discovery. As per the industry analysis by Global Market Insights Inc., as of today this market is valued at $2.8 billion USD in 2015 and is expected to grow by CAGR 13% from the year 2016 up to 2023. The key factors driving development in the market are augmented need for vaccines, proteins, therapeutic medicines and novel drugs. Increasing number of therapies and technological advancements is resulting in higher output and rising demand in global industry. Increase in the number of life threatening diseases like cancer resulting in increase in the demand for medicines and research contribute in boosting the forecast numbers. According to the WHO the numbers of cancer patients have increased thus fueling the market. Various components help in creation of cell lines like salt and media which provide nutrients to growing cells. Commonly used media in cell growth are DMEM media, RPMI media, MEM media, medium 199 and Hans F-10 media.
As per the regional analysis, the cell line development is the largest industry in the North America. The market size is expected to reach at USD $2.5 billion by the year 2023. The awareness amongst citizens about healthcare products has increased the need for biologics and cell therapies. Furthermore, countries like India and China from Asia Pacific region are likely to grow by 14% revenue during the projected period. The cell line Latin America market is expected to grow at CAGR of 13.3% revenue from USD $338.3 million.
Limited number of players rules the cell development market; Thermo Fisher Scientific Inc, GE, Lonza Group AG, Sigma Aldrich Corporation, Selexis SA, Corning Inc., WuXi AppTec Inc., European Collection of Cell Cultures (ECACC) and Sigma Aldrich Corporation.
Europe cell line development market size, by equipment, 2012 - 2023 (USD Million)
The industry is competitive in nature marked by high industry rivalry are major market players. These companies offer wide range of product to maintain the leadership position. The accessories and consumable durable are registering highest growth of 16% through the forecast boosting the production of vaccines and antibodies. The patents for the epic drugs like Androgel, Lantus, Abilify are about to expire, in return US Food and Drug Administration have approved 15 proteins and therapeutic medicines. Top giants are determined to stay in the competitive market by capitalizing on available unexploited opportunities.
Download a sample copy of this report: https://www.gminsights.com/request-sample/detail/429
Written By : Dhananjay Punekar