March 25, 2020
According to the research report titled ‘North America 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 with Market Study Report LLC, North America cell line development market is expected to surpass USD 2.7 billion by the year 2024.
Rising adoption of monoclonal antibodies, advancements in technology pertaining to cell line development equipment, and increased pervasiveness of cancer are prime factors driving the market growth. Escalating healthcare expenditure, expansion of biotechnology industry, and increasing production of vaccines are propelling the growth of North America cell line development market.
High concentration of market majors in the U.S., development of innovative products, and favorable regulatory scenario are further aiding the market expansion. However, increasing concerns regarding stem cell research may restrain the market outlook.
According to the study, reagent & media product segment is presumed to expand substantially during the forecast period. Rising adoption of reagent & media products for applications such as tissue engineering, drug discovery, bio production, and for producing regenerative medicines is fueling the segmental growth.
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The report cites that non-mammalian source segment is poised to amass notable gains, primarily due to its use for screening insecticides as well as for toxicology research.
In terms of technology, hybridomas cell line segment is expected to grow significantly during the estimated timeframe. The technology is extensively used during bulk production of monoclonal antibodies.
As per regional analysis, Canada cell line development industry is predicted to witness lucrative growth owing to increasing efforts by government towards advancements in stem cell research. Surging awareness pertaining to cell-based therapy and high occurrence of cancer are promoting the business scenario in Canada.
Major companies operating in North America cell line development industry are Selexis, Samsung Biologics, Lonza Group, GE Healthcare, WuXi AppTec, Thermo Fisher Scientific, Sigma-Aldrich (Merck), The European Collection of Cell Cultures, Progenitor Cell Therapy, and GVK BIO.
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