Global Competent Cells Market Top Major Players 2024, Forecast To 2033
10 Oct, 2024
The competent cells market has also seen rapid expansion, growing from $2.34 billion in 2023 to $2.65 billion in 2024, with a CAGR of 13.3%. This growth has been fueled by the increasing demand for genetic cloning, rising government funding for life sciences research, a growing biotechnology workforce, a focus on rare disease research, and the outsourcing of research activities to contract research organizations. Looking ahead, the market is projected to reach $4.39 billion by 2028, growing at a CAGR of 13.4%. This growth is expected to be driven by rising demand for personalized medicine, increased investment in biotechnology startups, higher demand for recombinant protein production, the prevalence of chronic diseases, and an increasing focus on industrial biotechnology solutions. Key trends for the forecast period include advancements in AI, quantum computing, 5G technology, and wearable technology.
Major Driver In The Competent Cells Market
The expanding biopharmaceutical industry is expected to fuel growth in the competent cells market in the coming years. This industry focuses on developing, producing, and commercializing drugs derived from biological sources, employing biotechnology to create innovative therapies. Rapid advancements in biotechnology and increased demand for personalized medicine are propelling this sector, as is the rise in research and development investments aimed at innovative treatments. Competent cells are vital in this field for genetic engineering, gene cloning, and protein expression, facilitating the production of essential biologics. In May 2024, the Department of Health and Social Care reported that the core biopharmaceutical sector generated £46.7 billion ($59.32 billion) in revenue in 2021/22, comprising 43% of the life sciences industry. Additionally, AusBiotech projected that the biotechnology sector would reach USD 5.66 billion (AU$8.67 billion) in revenues by 2024, reflecting a growth rate of 4.4%. Thus, the burgeoning biopharmaceutical industry significantly drives growth in the competent cells market, expected to grow from USD 1.56 billion in 2023 to USD 2.04 billion in 2024, ultimately reaching USD 3.01 billion by 2028.
Request A Free Sample Of The Competent Cells Market ReportCompetent Cells Market Competitive Landscape
Major companies operating in the competent cells market are Thermo Fisher Scientific Inc., Avantor Inc., Agilent Technologies Inc., Sigma-Aldrich, Bio-Rad Laboratories Inc., QIAGEN N.V., Promega Corporation, GenScript Biotech Corporation, Takara Bio Inc., New England Biolabs Inc., TransGen Biotech Co. Ltd., HiMedia Laboratories Pvt. Ltd., Zymo Research Corporation, Lucigen Corporation, Meridian Bioscience Inc., Codex DNA Inc., OriGene Technologies Inc., SERVA Electrophoresis GmbH, SMOBIO Technology Inc., Yeastern Biotech Co. Ltd., Scarab Genomics LLC, Enzynomics Co. Ltd., NZYTech Lda., Gold Biotechnology Inc., Abyntek Biopharma S.L
Key Competent Cells Market Trend
Major companies in the competent cell market are developing innovative kits, such as replication competent lentivirus kits, to enhance the efficiency of genetic transformation processes and support cell and gene therapies. Cell and gene therapies are advanced medical treatments that involve modifying or utilizing cells or genes to treat or cure diseases. For instance, in February 2024, Bio-Rad Laboratories Inc., a US-based manufacturer of clinical diagnostics products, launched the vericheck ddPCR replication competent lentivirus kit and the vericheck ddPCR replication competent AAV kit. These kits employ advanced droplet digital PCR (ddPCR) technology to detect and quantify replication-competent lentivirus (RCL) and adeno-associated virus (AAV) with high sensitivity and precision. This capability is critical for ensuring the safety and efficacy of viral vectors used in therapeutic applications, as it aids in identifying and eliminating any potentially harmful replication-competent viruses.
Purchase The Global Competent Cells Market Report Directly And Get A Swift DeliveryGlobal Competent Cells Market Segmentation
The competent cells market covered in this report is segmented –
1) By Type: Chemically Competent Cells, Electrocompetent Cells, Ultracompetent Cells
2) By Application: Cloning, Protein Expression, Mutagenesis, Other Applications
3) By End User: Contract Research Organizations, Pharmaceutical And Biotechnology Companies, Academic Research Institutes, Other End-Users
By Geography:The regions covered in the competent cells market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the competent cells market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Competent Cells Global Market Report 2024 furnishes information about the global competent cells market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.