iCrowd Newswire – May 19, 2020
According to The Insight Partners market research titled ‘Cell Line Development Market to 2027 – Global Analysis and Forecasts by Type, Product, and Application’. The global cell line development market is anticipated to reach US$ 11,161.35 Mn in 2027 from US$ 3,694.87 Mn in 2018. The cell line development market is expected to grow with a CAGR of 13.2% from 2019-2027. The report presents trends predominating in the global cell line development market and the factors driving the market and also the factors that act as hindrances.
The global cell line development market, based on the type, was segmented into a primary cell line, hybridomas, continuous cell lines, and recombinant cell line. In 2018, the recombinant cell line accounted for the largest market share in the global cell line development market by type. The recombinant cell line segment is expected to witness rapid growth owing to critical factors like the rising demand for recombinant proteins, increasing the use of recombinant cell lines for biotherapeutics, and growing demand for toxicity testing.
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The cell line development market majorly consists of players such as Thermo Fisher Scientific Inc., Merck KGaA, Selexis SA (JSR Corporation), BioFactura, Inc., Corning Incorporated, Sartorius, Lonza, GENERAL ELECTRIC, LakePharma, Inc., and WuXi AppTec Group among others.
Several companies are concentrating on organic strategies, such as product launch and product approvals. For instance, in June 2019, Thermo Fisher Scientific introduced Cytomat 2 C-LiN Series automated incubator for cell cultures. This instrument has features such as controlled automatic humidity, inbuilt contamination reduction system, other advanced features.
The significant factors fueling market growth are the increasing adoption of regenerative medicines, rising prevalence of cancer across the globe, and increasing investments in R&D by pharmaceutical and biotechnology companies. Also, middle-income countries creating development opportunities are likely to have a positive influence on market growth in the coming years.
The factors contributing to the growth of the cell line development market in the countries of Asia Pacific are increasing foreign direct investments in these countries, highly skilled, efficient, and a large number of human resources, streamlining government policies resulting in high expenditures for the biotechnology sector. Moreover, the growing number of players operating across the country manufacture products for cell line development. The countries such as Australia, India, and South Korea are estimated to serve various growth opportunities due to the rising development in the biotechnology sector.
Regenerative medicine has the potential to replace or heal tissues as well as organs damaged by age, disease, or trauma, as well as to normalize congenital disabilities. Over the last quarter of a century, there has been an emergence of a tissue engineering industry, one that has now evolved into the broader area of regenerative medicine. Regenerative medicine is defined as a rapidly growing interdisciplinary field that involves engineering sciences to develop clinical therapies intended for maintenance, repair, replacement, and enhancement of biological function. The cell line development is a crucial and invariable part of regenerative medicine that helps to understand how to treat injuries and diseases from broken bones to neurodegenerative diseases. Thus, the rise in the adoption of regenerative medicines is expected to foster the demand for cell line development, thereby driving the market growth.
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Keywords: Cell Line Development Market, Cell Line Development, Drug Discovery, Primary Cell Line, Hybridomas, Continuous Cell Lines,