Market Size of Competent Cells Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.40 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Competent Cells Market Analysis
The competent cells market is expected to register a CAGR of 9.4% over the forecast period.
The COVID-19 pandemic had a significant effect on the competent cells market. The increasing usage of competent cells in the research and development activities for the cell cloning activities of SARS-CoV-2. For example, an article published by Nature Journal in January 2021 reported the construction of a full-length SARS-CoV-2 genome via in-vitro competent cells in order to study the virus in-vitro and in vivo. Such application of competent cells in cloning the virus genome in order to develop appropriate treatments had a significant impact on the growth of the market. In addition, the demand for competent cells is expected to remain intact due to the emergence of a mutant strain of SARS-CoV-2 and to understand their mechanisms as well, thereby contributing to the growth of the market over the forecast period.
Advancements in molecular engineering due to the emergence of new cell technologies in biotechnology industries are augmenting the growth of the market studied. Additionally, increased investments from public and private companies and the development of advanced products are anticipated to boost the market growth in the studied regions. For example, in December 2021, Pfizer announced opening of a new state-of-the-art clinical manufacturing facility in Durham. The facility will expand Pfizer's end-to-end capabilities in gene therapy and builds on the company's existing footprint in North Carolina. The Durham facility is part of a USD 800 million investment over the past six years to build three scalable, state-of-the-art gene therapy manufacturing facilities to support Pfizer's continued investment in gene therapy. Such increasing investment by various market players for the development of various advanced therapies is also expected to drive the demand for competent cells owing to the high efficacy in various biotechnology procedures, thereby contributing to the growth of the market.
According to an SEU article published in July 2022, venture capitalists in Europe invested nearly over USD 18 billion into European biotech startups. Such high amounts of capital-raising capabilities from major companies are likely to lead to further investment in research and development activities. They are also expected to drive the growth of the market over the forecast period.
However, the very high cost of research and development of competent cells and the market consolidation of a few major players are expected to hamper the market growth over the period.
