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Lucrative Asian Markets to Offer Significant Growth Opportunities for the Cell Line Development Market in the Coming Years
The global cell line development market is witnessing significant growth and is likely continue to do so over the next five years. Factors such as a global increase in demand for monoclonal antibodies, innovative technologies, and rise in vaccine production contribute to the growth of the cell line development market. In the forecast period, the Asian region is projected to grow at the highest CAGR. Growth in this region is likely to be centered at India, China, and Japan. Furthermore, countries such as Brazil, Australia, New Zealand, and Africa are also likely to project a medium to high growth rate.
In Asia, Japan, India, and China are the leaders in the cell line development market. The growing pharmaceutical industry in India and China, increased vaccine production and growth in regenerative medicine research in Japan, initiation of measles-rubella combined vaccine production in Vietnam, and government-supported strong academic and commercial R&D activities in Taiwan are some factors that are likely to propel the Asian market for cell line development.
North America is likely to be the second-largest growing market after Asia. Investment in R&D by U.S. pharmaceutical companies, rise in funding for vaccine production, increasing conferences on cell line development, and increasing investment on regenerative medicines by the Canadian government, contributed to the growth of the North American cell line development market. The flourishing European vaccine market, along with increasing use of cell lines by biotechnology companies for vaccine production in France, advances in biotechnology industry in Germany, conferences on cell line development in the U.K., and increasing research on regenerative medicines in Spain are the factors contributing to the growth of the European cell line development market.
Markets in Brazil, New Zealand, Australia, and Africa are expected to witness growth as well, due to federal collaborations in Australia, favorable regulatory changes in New Zealand and Australia, flourishing biotechnology and pharmaceutical industry in Brazil, and increased focus on Africa by pharmaceutical companies.
Cell Line Development Market by Product (Equipment, Media and Reagents), Source, type & by Application ( Bioproduction, Tissue Engineering & Regenerative medicine, Toxicity Testing, Research, Drug Discovery) - Analysis & Global Forecast to 2019
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