July 21, 2024
Cancer Cell Market

The Cancer Cell Market Is Estimated To Witness High Growth Owing To Rising Incidences Of Cancer And Increasing Investments In Cell-Based Research

The cancer cell market is estimated to be valued at US$ 9,150.5 million in 2022 and is expected to exhibit a CAGR of 8.20% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cancer cells play a crucial role in medical research aimed at better understanding diseases like cancer and developing new treatment options. Cancer cells are cells which grow abnormally and spread unchecked in the body. They are used extensively in research labs to study cancer biology, identify cancer-causing factors, test new drugs and drug combinations, and develop personalized treatment approaches. Some key uses of cancer cells in research include testing anti-cancer drug efficacy and toxicity, studying cancer signaling pathways and genetics, developing animal models of cancer, and creating 3D tumor models. Advances in cell culturing and molecular biology technologies have enabled creation of multiple cancer cell lines that closely mimic clinical cancer subtypes and are invaluable resources for researchers.

Market Dynamics:

The global cancer cell market is witnessing high growth driven by the rising incidence of various cancers worldwide. According to the World Health Organization (WHO), cancer is the second leading cause of death globally and accounted for nearly 10 million deaths in 2022. The increasing complexities associated with cancer treatment are also fueling demand for advanced research utilizing cancer cell models. Further, rising investments by governments and private players in cell-based cancer research are boosting market growth. For instance, the U.S. National Cancer Institute invested over $6.2 billion towards cancer research in 2022.

Segment Analysis

The global cancer cell market is dominated by targeted cancer therapies segment. Targeted therapies help to destroy or mark cancer cells specifically and leave normal cells unharmed. They work by blocking the growth and spread of cancer by interfering with specific molecules (“molecular targets”) that are involved in the growth, progression, and spread of cancer. Some targeted therapies block the action of certain enzymes, proteins, or other molecules by inhibiting their growth or interfering with their ability to function, while others activate the immune system to work against cancer cells. The targeted therapies segment is expected to witness high growth over the forecast period owing to its advantages over traditional chemotherapies.

PEST Analysis

Political: Various governments across countries are funding greatly for cancer research and providing reimbursement coverage for cancer treatment which is positively impacting the market growth.
Economic: Rising healthcare expenditure along with increasing disposable income is driving the demand for advanced cancer treatment technologies in the market.
Social: Growing awareness among people regarding early detection and treatment of cancer is fueling the market.
Technological: Rapid advancements in areas of targeted drug delivery, immunotherapy, cancer stem cell research and biologics are providing new growth opportunities to players in this market.

Key Takeaways

The Global Cancer Cell Market Size is expected to witness high growth, exhibiting CAGR of 8.20 % over the forecast period, due to increasing adoption of targeted therapies and growing prevalence of cancer. The market was valued at US$ 8,525.5 million in 2022.

Regional analysis: North America dominates the global cancer cell market and is expected to continue its dominance over the forecast period. This is attributed to high healthcare spending, advanced healthcare infrastructure, and rising R&D activities in the region. Asia Pacific is expected to exhibit fastest growth owing to growing patient pool, improving healthcare infrastructure, and increasing government funding for cancer research.

Key players operating in the cancer cell market are Abbott Laboratories, Novartis International AG, Arcellx, Autolus Therapeutics, Kite Pharma, Cellectis, Celyad Oncology, Crescendo Biologics Limited, GammaDelta Therapeutics Ltd., Bio-Rad Laboratories Inc, QIAGEN Inc, Thermo Fisher Scientific, Merck Millipore, Siemens Healthineers AG, and GE Healthcare. Key players are focusing on new product launches, geographical expansion and collaborations to gain competitive edge in the market.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it