December 7, 2024

Wilms Tumor Protein Market High Growth Opportunities, Emerging Trends, Industry Review, Forecast Till 2030

Market Overview:

Wilms tumor, also known as nephroblastoma, is a type of childhood cancer that develops in the kidneys. It begins in the embryonic tissue that gives rise to the kidneys. Wilms tumor protein (WT1) plays an important role in the development of kidneys and urogenital systems. It is one of the most commonly used markers to detect Wilms tumor. WT1 assays help in diagnosing Wilms tumor at early stages and aid in surveillance for recurrence following therapy. They provide clinically significant information that impacts patient management decisions.

The global Wilms Tumor Protein Market is estimated to be valued at US$ 2.92 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Get more insights on this topic: https://www.coherentmarketinsights.com/market-insight/wilms-tumor-protein-market-5825

Market key trends:

Rising incidence of Wilms tumor especially among children is driving the demand for WT1 assays. According to the American Childhood Cancer Organization estimates, every year around 600 children in the US are diagnosed with Wilms tumor. Early and accurate detection of WT1 improves treatment outcomes and prognosis. Technological advancements are enabling development of sensitive, high-throughput WT1 detection kits. For instance, Thermo Fisher Scientific offers WT1 mRNA qPCR assays which can quantify WT1 gene expression levels with high sensitivity. Increasing adoption of biomarker-based diagnostics for accurate cancer detection is expected to boost the Wilms tumor protein market over the forecast period.

Porter’s Analysis

Threat of new entrants: Low barriers to entry in terms of technology and capital requirement work in favor of new players. However, established players have strong brand recognition and distribution networks.

Bargaining power of buyers: Buyers have high bargaining power due to the presence of numerous players and easy availability of substitutes. They can negotiate on price and demand value-added services.

Bargaining power of suppliers: Few suppliers for raw materials leads to high bargaining power. Suppliers may charge premium prices or delay supplies.

Threat of new substitutes: Substitutes are available from competitive technologies, thus posing moderate threat.

Competitive rivalry: Intense competition due to numerous regional and global players. Players focus on expanding their product portfolio and strengthening distribution networks.

Key Takeaways

The global Wilms Tumor Protein Market is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing research activity in oncology.

The North America region dominates the market and is expected to continue its dominance during the forecast period. This is attributed to the rising healthcare expenditure and increasing research activity in the region. Asia Pacific is expected to witness the fastest growth rate owing to growing patient base, increasing awareness, and developing healthcare industry.

Key players operating in the Wilms Tumor Protein market are Abcam plc, Thermo Fisher Scientific, Inc., Santa Cruz Biotechnology, Inc., Novus Biologicals, LLC, R&D Systems, Inc. (a subsidiary of Bio-Techne Corporation), OriGene Technologies, Inc., Cell Signaling Technology, Inc., Merck KGaA, BioLegend, Inc., Genetex, Inc. (a subsidiary of Novus Biologicals, LLC), Agilent Technologies, Inc., Proteintech Group, Inc., Sino Biological Inc., Boster Biological Technology, Fitzgerald Industries International.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it
Money Singh
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

Money Singh

Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. 

View all posts by Money Singh →