(PharmaNewsWire.Com, May 12, 2020 ) Advancements in molecular cloning research due to the emergence of new technologies and increasing commercial demand for molecular cloned products and recombinant proteins are the major factors driving the growth of the competent cells market.
According to research report the global competent cells market is projected to reach USD 2.22 billion by 2022 from USD 1.37 billion in 2017, at a CAGR of 10.2%.
• By type, the chemically competent cells segment is expected to dominate the market in 2017 • By application, the cloning segment is expected to dominate the market in 2017 • By end user, the academic research institutes segment is expected to dominate the market in 2017 • North America to dominate the competent cells market in 2017
By region, the competent cells market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The market is dominated by North America, followed by Europe. The North American region is expected to grow at the fastest CAGR during the forecast period. This is primarily due to increase in the R&D activities in the region.
Product launches, acquisitions, and partnerships were some of the major strategies followed by key players in the competent cells market. These strategies were adopted by—Thermo Fisher Scientific, Inc. (U.S.), Merck KGaA (Germany), New England Biolabs (U.S.), GenScript Biotech Corporation (China), and Agilent Technologies, Inc. (U.S.).
Thermo Fisher Scientific, Inc. is one of the key players in the competent cells market. The company focuses on product launches, acquisitions, and agreements to enhance its presence in the market. In January 2016, Thermo Fisher acquired Affymetrix (U.S.), to strengthen its leadership in biosciences and to create new market opportunities in genetic analysis. Similarly, in February 2014, the company acquired Life Technologies Inc. (U.S.). After this acquisition, Thermo Fisher created a new business segment—Life Sciences Solutions— which includes a broad range of protein expression systems and their related products.
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