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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.
Market Overview:
Wilms tumor protein, also known as WT1, is a tumor suppressor protein that plays a crucial role in urogenital development and kidney homeostasis. The protein is expressed in several organs during embryonic development and is found in the nuclei of podocytes and other cell types in the adult kidney. Wilms tumor, one of the most common pediatric cancers of the kidney, arises due to the abnormal expression of WT1. Researchers have shown that WT1 plays an important role in kidney cancer development and cancer progression. Analysis of WT1 expression is widely used for the diagnosis and prognosis of kidney cancer.
Market key trends:
Kidney cancer is becoming increasingly common, with rising prevalence worldwide. According to statistics, kidney cancer incidence rates have been increasing in most countries globally in the past few decades, primarily due to growing prevalence of risk factors such as obesity, hypertension, and smoking. With rising prevalence of kidney cancer, the demand for diagnostic tools for the early detection of this type of cancer is growing substantially. WT1 analysis helps in early and accurate diagnosis of kidney cancer and therefore, the demand for WT1 protein is increasing significantly. Researchers are also investigating the potential of WT1 as a therapeutic target for kidney cancer treatment, which could further drive market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: Low cost of raw material and labor offer low barriers to entry in this market. However, established brands have strong customer loyalty and distribution networks.
Bargaining power of suppliers: A few large suppliers dominate the market. Supplier concentration gives them stronger negotiating position versus buyers.
Bargaining power of buyers: Large diagnostic chains and pathology labs are major buyers. Their bulk buying power puts pressure on prices.
Threat of new substitutes: stem cell therapy is an emerging non-invasive alternative for cancer treatment.
Competitive rivalry: The market sees aggressive price competition and new product launches among key players to gain market share.
Key Takeaways
The global Wilms Tumor Protein market size is expected to witness high growth, exhibiting CAGR of 4.6% over the forecast period, due to increasing prevalence of childhood cancers. The market size for 2023 is estimated to be US$ 2.92 Bn.
Regional analysis: North America region currently dominates the market due to advanced healthcare infrastructure and high adoption of advanced cancer diagnostics. Asia Pacific is expected to grow at the fastest pace during the forecast period supported by rising healthcare spending, increasing incidence of pediatric cancers, and growing medical tourism in the region.
Key players analysis: 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., and Boster Biological Technology.
