Title: Cell Line Development Market size to exceed $7.4bn by 2023, with over 13% CAGR growth forecast
1Cell Line Development Market size to exceed
7.4bn by 2023, with over 13 CAGR growth
forecastGlobal Market Insights Inc.
Fuel Cell Market size worth 25.5bn by 2024
2 Key Insights from Cell Line Development Market
- Global cell line development market revenue
pegged at USD 2.81 billion in 2015, and is likely
to grow with 13 CAGR growth anticipated from
2016 to 2023. - The global cell line development industry space
was driven by North America, accounting for a
revenue share of 35 in 2015. Increasing median
age of the population, rising production of
vaccines, therapeutic proteins and antibiotics
are the factors contributing to the overall
growth of cell line development market in North
America.Germany, UK and Italy together were
responsible for over 52 of Europe molecular
diagnostics market revenue in 2015. - The U.S. cell line development market was valued
at USD 873.8 million in 2015, representing the
largest market for cell line development. The
large share can be attributed to high incidence
of the chronic diseases and increasing adoption
rates of cell culture techniques.
3Continued...
- The overall cell line development market was
predominantly driven by reagents and media
segment in 2015. The reagents and media market
size may see to exceed over USD 1.5 billion in
2015. - The threat of new entry in the market is
projected to remain low, due to capital intensive
nature of the market. The market is dominated by
large players with better financial muscle, and
strong product portfolios, making it difficult
for new players to gain entry in the market in
the forecast period. - Presence of potential unmet medical needs, rising
disposable income levels, and rapidly developing
healthcare infrastructure in the APAC and LATAM
should fuel the market growth of these regions.
4Europe cell line development market size, by
equipment, 2012 - 2023 (USD Million)
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6360 Analysis
- Product Analysis
- Reagents and media dominated the overall cell
line development market share in 2015, with over
USD 1.5 billion. High usage rate of reagents and
media in application areas such as bio
production, regenerative medicines, tissue
engineering, drug discovery, toxicity testing,
and research is one of the major factors driving
the growth of this segment. Moreover, reagent and
media are indispensable component of cell culture
cell line development process and are cost
intensive in nature. - Regional Analysis
- North America, driven by U.S. cell line
development market size is forecast to exceed USD
2.5 billion by 2023, still remaining the largest
regional industry. Presence of improved
healthcare infrastructure, growing demand for
biologics, and increasing awareness related to
cell therapy in the region are the key driving
factors throughout the forecast timeframe. - Competitive Market Share
- Global cell line development market share is
competitive in nature and dominated by limited
number of players. Sigma Aldrich Corporation,
Thermo Fisher Scientific, Inc., GE, and Lonza
Group AG are predominant industry players. The
market is marked by presence of extensive product
offerings and strategic initiatives such as the
collaborative agreement, in order to maintain
leadership position.
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