Competent Cells Market Forecast Hit by Coronavirus Outbreak, Downside Risks Continue to Escalate
VALLEY COTTAGE, N.Y. – A 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. The global market for competent cells is estimated to exceed US$ 2,000 Mn in revenues by 2022-end.
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 the molecular cloning research. Over the past few years, the recombinant proteins and molecular cloned products have experienced a robust commercial demand, thereby driving adoption of competent cells. However, adoption of competent cells is witnessing strong barriers on the back of increasing consolidation of the market, and huge cost of kits related to competent cells.
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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 – construction of gene banks, or, 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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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 during 2017 to 2022. However, sales of competent cells in pharmaceutical & biotechnology companies are expected to register the fastest expansion through 2022. Contract research organisations 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 during 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.
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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., and Zymo Research Corporation.
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