Pune, India, July 25, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners latest study on “Cell Line Development Market Size Report, Forecast to 2027 – COVID-19 Impact and Global Analysis – by Type, Product, Application and Geography,” the market size was valued at USD 4.16 billion in 2019 and is projected to reach USD 11.21 billion by 2027; it is expected to grow at a CAGR of 13.3% from 2020 to 2027. By product, the media and reagent-based segment held the largest share of the market the highest CAGR of 13.8% in the market during 2020-2027.
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Global Cell Line Development Market – Report Scope:
| Report Coverage | Details |
| Market Size Value in | USD 4.16 Billion in 2019 |
| Market Size Value by | USD 11.21 Billion by 2027 |
| Growth rate | CAGR of 13.3% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
| No. of Pages | 181 |
| No. of Tables | 72 |
| No. of Charts & Figures | 68 |
| Historical data available | Yes |
| Segments covered | Type; Product; Application and Geography |
Browse key market insights spread across 181 pages with 72 list of tables & 68 list of figures from the report, "Cell Line Development Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type (Primary Cell Line, Hybridomas, Continuous Cell Lines, and Recombinant Cell Line); By Product (Equipment and Media & Reagent); Application (Drug Discovery, Bioproduction and Tissue Engineering); and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/cell-line-development-market
Global Cell Line Development Market: Competitive Landscape and Key Developments
Thermo Fisher Scientific Inc., Merck KGaA, Selexis SA (JSR Corporation), BioFactura, Inc., Corning Incorporated, Sartorius AG, Lonza, GENERAL ELECTRIC, LakePharma, Inc., and WuXi AppTec Group among others are among the leading companies operating in the cell line development market. These players are focusing on expanding and diversifying their market presence and acquiring a novel customer base, thereby tapping prevailing business opportunities in the cell line development market. Many market players are launching their innovative products in the cell line development market with advanced features. For instance,
In July 2022, ProBioGen and Granite Bio collaborated to provide GMP manufacturing and Cell Line Development Services. A novel monoclonal antibody developed by Granite Bio is the company's top candidate for the treatment of autoimmune and specific cancer indications, by using the DirectedLuck transposase.
Middle Income Countries Creating Development Opportunities for Global Cell Line Development Market Growth During 2020-2027:
The emerging markets in the developing countries in the Asia Pacific region are creating better opportunities for significant market players to expand their business. This is a prime reason for market growth in the forecast period. Most of the major players focus on emerging markets such as India, China, and others owing to large number of cancer patients and growing medical tourism in developing countries. Many of the emerging countries are facilitated with high technology-based research facilities and advanced life science studies.
The Australian Institute of Health and Welfare reported that over 140,000 new cases of cancer are diagnosed in 2018. Also, according to the Malaysia Healthcare Travel Council, in 2022, Over 80,000 healthcare travelers, visited Malaysia for healthcare purposes. The low cost of surgeries, advanced technologies with less waiting time for procedures in the region is likely to boost the demand for cell line development.
hus, rising medical tourism in emerging countries and growing cancer prevalence in the region is likely to boost the market and is anticipated to provide significant growth opportunities to the players operating in the market during the forecast period.
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Global Cell Line Development Market: Segmental Overview
The “Global Cell Line Development Market” is segmented based on type, product, application, and geography. Based on type, the cell line development market is segmented into primary cell line, hybridomas, continuous cell lines, and recombinant cell line. Based on product, the cell line development market is segmented into equipment, media and reagent. Based on application, the cell line development market is segmented into drug discovery, bioproduction, and tissue engineering.
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