Monday, March, 18, 2019 06:36:49

Reagents and Media product segment to drive the growth of Cell Line Development Market| $7.5 bn by 2024

The Cell Line Development Market is 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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Cell Line Development Market, on the basis of Products:

Reagents and media product segment dominated the cell line development market with USD 1.8 billion revenue in 2017 and is anticipated to dominate the market throughout the analysis period. Reagents and media form major component of cell line development procedures. Wide adoption of reagents and media in drug discovery, bioproduction, toxicity testing as well as tissue engineering will drive segment growth over the forecast timeframe.

Equipment product segment is estimated to witness more than 13.0% CAGR during the analysis timeframe. Developments in cell line development technologies is major factor that will boost the segment growth. With increasing usage of bioreactors, centrifuges, incubators and other equipment for cell line production coupled with ongoing research and development activities, equipment segment is forecasted to play vital role in the cell line development market growth.

Cell Line Development Market, on the basis of Cell Line Type:

Recombinant cell lines segment dominated the cell line development market with 31.1% market share in 2017. Wide adoption of recombinant cell lines in vaccine and monoclonal antibodies production as well as in gene therapy will fuel demand for recombinant cell lines. Huge investments in R&D for drug discovery will further surge the demand over the forecast timeframe.

Hybridomas segment is projected to show 13.3% CAGR during the forecast period. Hybridomas technology is primarily used for large scale production of monoclonal antibodies. Demand for products developed using hybridoma technology to improve quality of life in patients suffering from cancer, anti-inflammatory disorders and autoimmune diseases is increasing. Rising demand for monoclonal antibodies for disease treatment will upsurge the hybridomas segment growth.

Cell Line Development Market, on the basis of Application:

Bioproduction segment accounted for USD 1.5 billion in 2017 and is estimated to dominate the industry throughout the analysis period. Increasing demand for biological products such as peptides, enzymes, monoclonal antibodies as well as therapeutic proteins will foster the segment growth. Technological advancements resulting in development of superior techniques for bioproduction will further augment the segmental growth.

Tissue engineering segment is forecasted to witness 14.2% CAGR over the analysis timeframe. Wide applications of tissue engineering in development of biological substitutes to restore, maintain and improve damaged tissues is the major driver for segment growth. Growing adoption of tissue engineering in patient treatments such as skin grafts, implantation of bladders, trachea, small arteries, and cartilage will foster the segmental growth in the foreseeable future.

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Some of the notable industry players operating in global cell line development market include GE Healthcare, Thermo Fisher Scientific, Lonza Group, Sigma-Aldrich Corporation, Wuxi AppTec, Sartorius Stedim Biotech, Corning, Selexis, Vista Biologics, EuBiologics, Paragon Bioservices, Cobra Biologics, Patheon, Samsung Biologics, Epistem Holdings, Catalent, Bioceros, Abzena, Promocell and Cyagen. Key industry players are primarily focusing on partnerships, mergers, acquisitions and new product launch to enhance existing product portfolio as well as maintain their market position. For instance, in November 2016, GE Healthcare collaborated with Valneva SE, a leading vaccine company, with an aim to use Valneva’s EB66 cell-line to optimize virus productivity for producing animal and human health vaccines.