The market is estimated to grow at a CAGR of 6. 1% from 2020 to 2027. Increasing adoption of regenerative medicines, favorable reimbursement policy for the rising R&D investments, and collaborations among the pharmaceutical and biotechnology companies are the major factors driving the growth of the cell line development serum market.
New York, Jan. 26, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cell Line Development Serum Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type ; By Application ; and Geography" - https://www.reportlinker.com/p06010035/?utm_source=GNW
However, the risk of contamination, misidentification, and random alternations in cell lines are hindering the growth of the market.
Pharmaceutical companies are investing heavily in drug discovery, gene sequencing, and targeted protein development to meet the growing demands of the healthcare sector.Understanding of protein interaction with drug is crucial and important parameter in the drug discovery.
Cell-based therapies have wide applications in various branches of pharmaceutical industry, such as toxicology, clinical research, drug discovery, and manufacturing. Further, the development of personalized medicines is also propelling the need of genetic studies, thereby boosting the demand for cell line development serum.
The percentage of operational spending on R&D in major pharmaceutical companies such as Pfizer, Inc.; Sanofi; Johnson & Johnson Services, Inc.; AstraZeneca Plc; and AbbVie, Inc., varies from 18% to 31%. Bristol-Myers Squibb Co. Ltd. invested 31.7% of its total operational costs in research and development, while Merck KGaA invested 28.8% in these activities in fiscal year 2018. In addition, established market players are focusing on the partnerships and collaborations. For instance, in July 2017, GE Healthcare and Oritain entered into strategic partnership to develop a platform to validate the country of origin of fetal bovine serums; such partnerships boost research activities, involving cell line development processes. The rise in research activities, including cell line development as a crucial step, triggers the demand for cell line development serum.
The global cell line development serum market is segmented based on type and application.Based on type, the market is segmented into fetal bovine serum, adult bovine serum, porcine serum, horse serum, other animal serum.
The fetal bovine serum segment held the largest share of the market in 2019 and is anticipated to register the highest CAGR in the market during the forecast period. In terms of application, the cell line development serum market has been segmented into bioproduction, drug discovery, tissue engineering and regenerative medicines, toxicity testing, and academic research .
Department of Biotechnology, China National Center for Biotechnology Development, California Institute for Regenerative Medicine, Biotechnology and Biological Sciences Research Council, the World Health Organization, Pharmaceuticals and Medical Devices Agency, European Medical Association, World Trade Organization, and European Federation of Pharmaceuticals Industries Associations are among the essential secondary sources referred to while preparing this report.
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