The market is estimated to grow with a CAGR of 12. 8% from 2020-2027. Government and private funding for biotechnology research, the launch of innovative technologies for cell line synthesis, and an increase in various research for novel technology-based applications are likely to be the major factors driving the growth of this market in the European region.
New York, March 19, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe Cell Line Development Market to 2027 - Regional Analysis and Forecasts by Type ; By Product ; Application ; and Geography" - https://www.reportlinker.com/p05875862/?utm_source=GNW
Europe holds a robust technological base in terms of number of patent filings.
This adds up significantly to the high degree of intellectual property rights in the region leading to its strong position in the cell line development market. Also, efforts taken by the National Government to encourage innovation through incentives provision and tax exemption for R&D and new biotech start-ups are expected to favor the growth of the European cell line development market over the forecast years.
Moreover, the companies are performing various activities for the cell line development market, for instance, Selexis, Carestream Avacta, JSR Life Sciences. has done recent developments for products.
In 2019, the recombinant cell line segment held the most significant market share of the cell line development market, by type.This segment is also anticipated to dominate the market in 2027 owing to its popularity among manufacturers for the production of therapeutic recombinant proteins.
The hybridomas segment is anticipated to witness growth at a significant rate during the forecast period.
The Germany cell line development market is dominated by intraoral media and reagent segment in 2019 with a considerable market share, by product.This segment is also predicted to dominate the market in 2027.
Also, media and reagent segment is anticipated to witness growth at a significant rate during the forecast period, owing to the increasing research activities in biotechnology sector.
In 2019, the Bioproduction segment held a considerable market share of the cell line development market, by the application.This segment is also predicted to dominate the market in 2027 owing to higher demand of biologics.
However, the drug discovery segment is anticipated to witness growth at a significant rate during the forecast period.
Some of the major primary and secondary sources for cell line development included in the report are European Forum for Industrial Biotechnology and the Bioeconomy, Food and Drug Administration and others.
Read the full report: https://www.reportlinker.com/p05875862/?utm_source=GNW
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