by The global Cancer Cell Market is estimated to be valued at US$ 10799.45 Mn in 2023 and is expected to exhibit a CAGR of 8.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The global cancer cell market comprises various products that help in studying and understanding cancer at a cellular level. These products include instruments, kits and reagents that are used in applications such as cell viability, proliferation, signaling pathways, cell death, apoptosis and others. Cancer cells play an important role in the development of neoplasms or tumors in the body and help clinicians understand the genetic abnormalities as well as progression of the disease. Understanding cancer at a cellular level is key to developing more targeted and personalized treatment options for patients.
Market key trends:
One of the key trends in the cancer cell market is the rising adoption of targeted therapies. Targeted therapies aim to specifically attack cancer cells by targeting specific molecular differences between cancer cells and normal cells. This helps avoid damage to normal cells, leading to fewer side effects. Targeted therapies include monoclonal antibodies, targeted small molecule drugs, engineered T-cell therapies and others. The success of targeted therapies has translated into their wider adoption. For instance, Herceptin is a targeted therapy approved for breast cancer that overexpresses the HER2 receptor. Research into discovering new targets is ongoing which will further drive the targeted therapy segment of the cancer cell market during the forecast period.
Porter’s Analysis
Threat of new entrants: The Global Cancer Cell Market requires high capital investment for R&D which makes it difficult for new players to enter. Bargaining power of buyers: Multiple treatment options available reduces buyers’ bargaining power. Bargaining power of suppliers: Established players have strong bargaining power over suppliers due to their financial strength and demand. Threat of new substitutes: Technological advancements lead to new substitute products however regulations protect market share. Competitive rivalry: Intense competition exists among existing players to gain higher market share.
SWOT Analysis
Strengths: Rising cancer prevalence, increasing investment in cancer research, growing target therapies market.
Weaknesses: High cost of treatment, side effects of treatment, risk associated with medical procedures.
Opportunities: Emerging economies, untapped rural markets, new product launches, strategic collaborations.
Threats: Stringent regulatory approvals, reimbursement issues, social stigma related to cancer.
Key Takeaways
The global cancer cell market is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing government funding for cancer research. North America dominates the market currently due to presence of advanced healthcare infrastructure and facilities in the region. Asia Pacific is expected to offer lucrative growth opportunities during the forecast period owing to rising awareness levels and increasing healthcare expenditures in the region.
Regional analysis: The North America region currently accounts for the largest share in the global cancer cell market due to availability of modern treatment facilities. Asia Pacific is poised to offer highest growth potential during the forecast period majorly driven by rapidly developing healthcare industry and infrastructure in countries such as India, China and Japan.
Key players: 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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
