The Future of Biotech Unveiled: Competent Cells Market Soars to US$5.9 Billion by 2032 with 11.1% of CAGR | FMI Insights

By the end of 2022, the market for competent cells is anticipated to reach US$ 2.1 billion, growing at a double-digit rate of 11.1% CAGR (2022-2032). By 2032, the market's sales are projected to be worth $5.9 billion USD. Chemically competent cells held the market's top spot in terms of product type in 2021, with a share of about 67.8%.

The latest research study published by Future Market Insights (FMI) projects the global competent cells market to register an impressive 8.1% CAGR throughout the forecast period 2017 to 2022.

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Competent Cells Available in the Market in Ready-to-use Formats

Preparations of competent cells, along with other methods of transformation, have been continuously improvised, since the development of E. coli's artificial transformation with the help of electroporation and chemicals. Currently, various competent cells are available in the market in ready-to-use formats for propagating cloned plasmids in the experiments of molecular biology. These competent cells are prepared for different transformation procedures, genotypes, packaging, and transformation efficiencies.

With the advent of new technologies, several advancements have been witnessed in molecular cloning research. Over the past few years, the recombinant proteins and molecular cloned products have experienced a robust commercial demand, thereby driving the adoption of competent cells. However, the adoption of competent cells is witnessing strong barriers on the back of increasing consolidation of the market and the huge cost of kits related to competent cells.

Academic Research Institutes to Remain Largest End-users of Competent Cells

Academic research institutes are anticipated to remain the largest end-users of competent cells throughout the forecast period. Sales of competent cells in academic research institutes are projected to exhibit an impressive expansion to account for nearly half revenue share of the market from 2017 to 2022. However, sales of competent cells in pharmaceutical & biotechnology companies are expected to register the fastest expansion through 2022. Contract research organizations are expected to be the least lucrative end-users of competent cells in the global market.

Competent cells are expected to find the largest application in cloning from 2017 to 2022. Governments across the globe are providing tremendous support and funding for research and development activities associated with cloning. Revenues from sales of competent cells for application in cloning are estimated to account for over half revenue share of the market during the forecast period. Sales of competent cells for application in protein expression are expected to register the highest CAGR through 2022.

North America will Continue to be Largest Market for Competent Cells

In terms of revenues, North America is anticipated to remain the largest market for competent cells, with sales estimated to exceed US$ 750 Mn in revenues by 2022-end. Huge investments in research and development activities associated with competent cells is driving the market in North America. In addition, the market in Europe is estimated to create an absolute $ opportunity of nearly US$ 200 Mn between 2017 and 2022.

On the basis of product type, although chemically competent cells will continue to be sought-after in the market, sales of electrocompetent cells are projected to register a relatively faster expansion through 2022. Growing demand for electrocompetent cells can be mainly attributed to their provision of high transformation efficiencies, making them suitable for several molecular biology applications, for example - the construction of gene banks, or, the generation of cDNA libraries. Revenues from sales of electrocompetent cells are projected to account for nearly one-third share of the market over the forecast period.

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Leading Market Players Focusing on Increasing their Product Portfolio

Global leading players in the competent cells market are focusing on increasing their product folio, in a bid to gain a competitive edge in the market. Key players listed in FMI's report on the global competent cells market include:

-Agilent Technologies Inc.
-Bio-Rad Laboratories Inc.
-Genescript Biotech Corporation
-Illumina Inc.
-Merck & Co. Inc.
-New England Biolabs Inc.
-OriGene Technologies Inc.
-QIAGEN N.V.
-Thermo Fischer Scientific Inc.
-Zymo Research Corporation.

>Market Taxonomy Region

-North America
-Latin America
-Europe
-Japan
-APEJ
-MEA
-Chemically Competent Cells
-Electrocompetent Cells

>End User

-Academic Research Institutes
-Pharmaceutical & Biotechnology Companies
-Contract Research Organizations

>Application

-Cloning
-Protein Expression
-Other Applications

>Author

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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This release was published on openPR.