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The global electrocompetent cells market is witnessing significant growth due to extensive research and development (R&D) activities in pharmaceuticals and biotechnology. Electrocompetent cells are competent bacterial cells that can be transformed or transfected through electroporation by introducing exogenous DNA molecules through electrical pulse technology. They are commonly used in cloning, mutagenesis, protein expression, purification, and cellular screening applications. Bacterial strains such as Escherichia coli, Salmonella typhimurium, and Agrobacterium tumefaciens serve as the most widely used host cells for cloning and transformation purposes.
The global electrocompetent cells market is estimated to be valued at US$ 2.07 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing R&D Activities in the Pharmaceutical Industry: Research and development is a key driver augmenting the market growth. Pharmaceutical companies are extensively focusing on R&D activities related to drug discovery, protein production, vaccine development, and therapeutics, which requires efficient cloning and mutagenesis techniques involving electrocompetent cells. These cells help deliver optimized yields of protein expression, enabling development of more effective drugs and treatments. The second driver is increasing adoption of biologics and biosimilars. Rising approval and adoption of novel biologic drugs and biosimilars has fueled the demand for high-quality electrocompetent cells used in their manufacturing processes. However, the complexity and cost associated with electrocompetency preparation may restrain market growth over the forecast period.
Segment Analysis
The global electrocompetent cells market can be segmented based on end-user, application, and region. The pharmaceutical and biotechnology companies segment dominates the electrocompetent cells market and accounts for over 30% market share. This segment holds the dominant share owing to the extensive use of electrocompetent cells in drug discovery processes, plasmid preparation, protein expression, site-directed mutagenesis, and genome sequencing in these companies.
PEST Analysis
Political: The governments across various countries are increasing their funding for biotechnology and life sciences research. This is positively impacting the growth of the electrocompetent cells market.
Economic: The rising personal disposable incomes and growing healthcare spending are fueling the demand for advanced biotherapeutics and biosimilars. This is driving the consumption of electrocompetent cells in research activities.
Social: The increasing prevalence of various diseases and growing awareness about personalized medicine are creating high demand for biologics and biosimilars. This is propelling the usage of electrocompetent cells in biotherapeutic development processes.
Technological: Continuous advancements in DNA manipulation technologies and introduction of more efficient transformation methods are supporting the development of new electrocompetent cells with higher transformation efficiencies. This is expanding the application scope of electrocompetent cells.
Key Takeaways
The global electrocompetent cells market is expected to witness high growth in the coming years. The global electrocompetent cells market is estimated to be valued at US$ 2.07 billion in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030.
The North American region currently dominates the market and is expected to maintain its leading position during the forecast period. Factors such as significant R&D investments, presence of major pharma companies, and growing biotechnology research activities are fueling the demand for electrocompetent cells in this region.
The North American region holds the largest share in the global electrocompetent cells market, accounting for over 35% revenue. This is attributable to factors such as high biotech research funding, presence of major key players, rising prevalence of target diseases, and increasing knowledge about gene therapeutics and stem cell research in this region. The Asia Pacific region is expected to witness the fastest growth during the forecast period owing to improving research infrastructure, growing life science research expenditure, and increasing outsourcing of clinical research to Asian countries.
Key players operating in the electrocompetent cells market are Merck KGaA, Thermo Fisher Scientific, Promega Corporation, Takara Bio, Bio-Rad Laboratories, Lucigen Corporation, New England Biolabs, OriGene Technologies, Agilent Technologies, Qiagen N.V., and Illumina, Inc.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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