Mon October 24th, 2016
Cell Line Development Market size to exceed with over 13% CAGR by 2023
Cell Line Development Market size is projected to reach USD 7.45 billion by 2023; as per the latest research report by Global Market Insights, Inc. Growing demand for novel drugs, biosimilars, and vaccines due to patent expiration of blockbuster drugs, and increasing investment in biotechnology industry, along with favorable government policies is likely to drive global cell line development market size. Global cell line development market revenue pegged at USD 2.81 billion in 2015 and is likely to grow at a CAGR of 13% over the forecast period. Rising incidences of cancer and auto immune disorders requiring effective and faster therapeutics are key factors attributing to the growth of the cell line development market over the forecast period. Furthermore, favorable government initiatives aimed at improving healthcare infrastructure and the development of novel technologies for cell line development are expected to present this market with future growth opportunities. Request for a sample of this research report - https://www.gminsights.com/request-sample/detail/429 Accessories and consumables are forecast to remain a very lucrative product segment of the market, estimated to grow at a healthy 16.3% CAGR, from 2016 to 2023. Rise in number of research and development activity for biosimilars and biologic products is anticipated to boost the demand for productive cell lines for large-scale manufacturing practices. Over the past few years, approximately 15 new therapeutic and recombinant proteins are being approved annually by the U.S. Food and Drug Administration (FDA). Moreover, increasing number of monoclonal antibodies based viable therapies and introduction of Mabs-based modalities are other factors expected to contribute towards the growth of monoclonal antibodies market. The industry is witnessing introduction of technologically advanced cell line development processes, novel technologies such as automated screening methods, cell line engineering, enhanced expression systems, improved process monitoring, and use of disposable apparatus are some factors contributing to cell line development market growth. APAC pose a significant growth opportunity, with target market likely to exceed USD 1.8 billion, by 2023. Presence of supportive government initiatives and increasing investments by manufacturers and government in biotechnology sector and high untapped opportunities are the important factors anticipating the growth of Asia Pacific. Latin American region is also expected to offer cell line development market with lucrative growth opportunities in the coming years, due to presence of high unmet medical needs and rapidly improving healthcare infrastructure. To access sample pages or view this report titled, "Cell Line Development Market Size By Product [Reagents & Media, Equipment (Incubator, Centrifuge, Bioreactor, Microscope), Accessories & Consumables], By Source [Mammalian, Non-Mammalian (Insects, Amphibians)], By Cell Line [Recombinant, Hybridomas, Continuous Cell Line, Primary Cell Line], By Application [Bioproduction, Drug Discovery, Toxicity Testing, Tissue Engineering, Research] Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, China, India, Japan, Brazil, Mexico, South Africa), Application Potential, Competitive Market Share & Forecast, 2016 - 2023" in detail along with the table of contents, please click on the link below: https://www.gminsights.com/industry-analysis/cell-line-development-market Key insights from the report include: • 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. Escalating population, government support in management of infections, and rising lifestyle changes of the people are other vital factors aiding growth. • 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. Owing to the established infrastructure, it is anticipated that this region might witness increase in the sales of cell based therapies in the coming years. • 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. About Global Market Insights: Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.