PUBLISHER: Grand View Research | PRODUCT CODE: 1511923
PUBLISHER: Grand View Research | PRODUCT CODE: 1511923
The global competent cells market size is anticipated to reach USD 3.59 billion by 2030, exhibiting a CAGR of 8.10% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing biopharmaceutical research, advancements in gene editing technologies, and the expanding field of synthetic biology is expected to propel market growth. Moreover, the biotechnology and pharmaceutical industries depend heavily on competent cells for the production of recombinant proteins, enzymes, and vaccines. The growing need for these products in medical treatments, research, and industrial applications fuels the demand for competent cells.
The COVID-19 pandemic has significantly boosted the market for competent cells, as companies increased their research and development efforts to address immediate health and scientific challenges. Competent cells, vital for tasks like molecular cloning, genetic engineering, and making recombinant proteins, have been in higher demand due to their key role in creating vaccines, diagnostic tests, and therapeutic research. The urgent need for vaccine manufacturing and treatments for COVID-19 has driven biotech and pharmaceutical companies to improve their cloning processes. These factors have impelled the growth of the market and are anticipated to propel exponentially over the forecast period.
In addition, technological advancements in cell preparation are projected to further propel the demand for competent cells. Technological advancements in the preparation and transformation efficiency of competent cells have significantly impacted the performance and reliability of competent cells, thus increasing the demand for researchers and industrial users. Additionally, genetic modifications and stress response pathway developments have further boosted transformation accomplishment, providing tailored solutions for specific applications, and advancing the utility of competent cells in various fields. These factors are thus projected to impel the growth of the market over the forecast period.
However, the high cost of producing and maintaining high-efficiency competent cells is considerable, which may limit their accessibility, especially for smaller research institutions and startups with limited budgets. This is anticipated to affect the adoption rate of competent cells in certain markets. Moreover, the process of preparing competent cells and accomplishing successful transformations could be technically complex and involve specialized knowledge and equipment. Thereby, hampering the growth of the market over the forecast period.