With 13.0% CAGR Cell Line Development Market to hit USD 7.5 bn by 2024
Sellbyville, DE -- (SBWIRE) -- 01/14/2019 -- Global Cell Line Development Market set to exceed USD 7.5 billion by 2024; according to a new research report by Global Market Insights.
Rising incidence of chronic diseases such as cancer, autoimmune disease and inflammatory disorders will drive the global cell line development market during the forecast period. Rapidly growing geriatric population base and unmet need for cancer drugs are the key factors that will fuel the demand for discovery of new drugs, thereby accelerating cell line development industry growth. Increasing adoption of cell line systems for production of vaccines, monoclonal antibodies and lymphokines will boost the demand for cell line cultures. Developments in biotechnology industry coupled with rapidly growing vaccine production across the globe will augment the cell line development market growth.
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Advancement in cell line development technologies will serve to be another positive impact rendering factor surging industry growth. Availability of automated screening methods, improved expression systems as well as developments in equipment will further stimulate industry growth. Furthermore, increasing investment in R&D to develop novel technologies and products will upsurge the cell line development market growth. However, stringent regulatory framework for approval of biologics and diagnostic products may hamper the cell line development market growth. Issues related to harvesting human embryonic stem cells that cause destruction of human embryos will further impede the market growth.
Equipment segment is estimated to show lucrative CAGR of 13.1% over the forecast period owing to advancements in cell line development technologies. Rapid development in recombinant protein therapeutic products and improvement in speed and ease of cell line production techniques will fuel the demand for incubators, centrifuges, bioreactors, microscopes and other equipment. Increasing need for safety equipment in cell culture laboratories to eliminate exposure to harmful substances will drive the segmental growth in coming years.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
- GE Healthcare
- Cytovance Biologics
- WuXi AppTec
- Sartorius Stedim Biotech
- Selexis SA
- EuBiologics co.,Ltd
- Paragon Bioservices, Inc.
- Cobra Biologics
- Samsung BioLogics
- GVK BIO
- Epistem Ltd.Catalent Applied Drug Delivery Institute
- Cyagen US Inc.
Recombinant cell lines segment dominated the cell line development market with USD 1.0 billion revenue in 2017 and is projected to witness healthy growth during the analysis period. Increasing demand for recombinant cell lines due to developments in rDNA technology is the major factor that will drive the segmental growth. Growing utilization of recombinant cell lines for production of biosimilars and monoclonal antibodies will upsurge the segmental growth during the forthcoming years.
Drug discovery segment is estimated to witness 12.8% CAGR over the analysis timeframe. The segment growth is highly attributable to development in application of genomics and molecular pharmacology in drug discovery. Growing prevalence of cancer, autoimmune diseases, inflammatory disorders and other chronic diseases will fuel the need for drug discovery. Furthermore, increasing adoption of cell line products for drug screening and lead validation assays will accelerate segmental growth in the coming years.
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U.S. market accounted for USD 1.0 billion in 2017 and is estimated to show similar growth during the analysis period. Increasing prevalence of chronic disease and growing adoption of cell culture techniques are the key factors that will drive the cell line development industry growth. Huge investment in R&D for development of stable cell lines and technological innovations for creating new cell lines will further boost the market growth. Key industry players in the cell line development market have strong foothold in the U.S. that will elevate the regional growth during the forthcoming years.