March 25, 2020
As per the report titled ‘Asia-Pacific Cell Line Development Market Size By Product, Source, Cell Line, Application, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2018 - 2024’, available at Market Study Report LLC, Asia Pacific cell line development market is projected to surpass USD 1.9 billion by the year 2024.
Rising prevalence of cancer is the primary growth driver of Asia Pacific cell line development market. Increasing adoption of vaccines and monoclonal antibodies for the treatment of cancer and other chronic diseases is fueling the demand for cell line cultures, hence augmenting the business outlook.
Advancement in cell line development techniques coupled with growing availability of advanced methods that enable faster and higher yield of cell lines will stimulate the market growth over the forecast timeline. On the contrary, complications associated with stem cell research and complicated regulatory scenario may restrain the market share in the ensuing years.
Based on the product, reagents and media segment accounted for 53.8% revenue share in 2017 and is presumed to grow rapidly during the forecast period. Wide product applications in various research including drug discovery and tissue engineering is driving the segment growth. Biological buffers, dissociation reagents, and freezing agents are extensively used for research purposes.
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Meanwhile, Hybridomas segment is anticipated to expand with 14.2% CAGR over the estimated timeframe. Various benefits of hybridomas such as the ability to grow continuously, large-scale production of pure antibodies, and combination of two different types of cells are fueling the product demand.
Speaking of the application spectrum, APAC cell line development market from bioproduction segment amassed USD 347 million in 2017 and is expected to see a sizeable growth in the forthcoming years. Growing use of rDNA technologies for the production of monoclonal antibodies, therapeutic hormones, peptides, and other biological products is supporting the segment growth.
Considering the geographical outlook, Japan cell line development market accrued USD 207.3 million in 2017 and is expected to follow similar growth trend during 2018-2020, owing to escalating demand for vaccines and monoclonal antibodies for treatment of various chronic diseases. Technological advancement in biotechnology in tandem increasing healthcare expenditure and rising preference for advanced treatments will further enhance the regional market growth.
Prominent players of Asia Pacific cell line development market are Thermo Fisher Scientific, GE Healthcare, Lonza Group, WuXi AppTec, Sigma-Aldrich Corporation (Merck), Sartorius, Selexis, Corning, EuBiologics, Samsung Biologics, Patheon, GVK BIO, Abzena, and Progenitor Cell Therapy (PCT).
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