Global cell line development market projected to reach US$18.62 billion by 2031, with growth opportunities.
From GlobeNewswire: 2024-12-17 08:01:00
The Global Cell Line Development Market is projected to reach US$18.62 billion by 2031 with a CAGR of 13.3%. Regenerative medicine adoption is increasing, driving market growth. Rising cancer cases worldwide highlight the need for early diagnosis and treatment, with North America leading in revenue. The market is segmented by type, product, and application, offering opportunities for growth and development.
The Insight Partners report provides insights for stakeholders to navigate the evolving cell line development market, with a focus on regenerative medicine adoption driving demand. Cancer prevalence underscores the need for early intervention, with North America leading in revenue. Market segmentation by type, product, and application offers growth opportunities for the industry, especially in Asia Pacific.
The Asia Pacific cell line development market is expected to grow at a CAGR of 14.1%, reaching US$2,828.53 million by 2027, driven by government investments and biotechnology sector development. In Europe, the market is estimated to reach US$3,187.57 million by 2027 with a CAGR of 13.0%, showcasing growth potential in the region.
Key global headlines include Abzena and Lonza launching new cell line development platforms, with Cytiva strengthening its capabilities through the acquisition of CEVEC. These developments highlight the continuous innovation and growth in the cell line development market, offering new opportunities for stakeholders in the industry. The North America cell line development market is projected to reach US$ 3,849.54 million by 2027, growing at a CAGR of 13.6% from 2020-2027. Factors driving growth include government involvement and biotechnology industry expansion. Rising cancer cases and biotech advancements are also contributing to market growth.
The cell line development market is witnessing significant expansion due to increased demand for biopharmaceuticals and advancements in biotechnology. Factors like rising chronic diseases, personalized medicine focus, and efficient drug development processes are fueling market growth. Technological innovations like CRISPR enhance cell line development precision. North America and Asia Pacific are key regions for market growth. 1. In breaking news, a new study reveals that over 70% of Americans have experienced anxiety or depression during the COVID-19 pandemic. The study, conducted by the American Psychological Association, highlights the mental health challenges facing the nation during this unprecedented time.
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Read more at GlobeNewswire: Cell Line Development Market Size Set for Explosive Growth,