by The 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 cancer cell market consists of various products utilized for various applications in cancer research and clinical practices. The major products and services include reagents & kits, cells, instruments, services, tumor cell lines, and others. Cancer cells find various uses in drug discovery and development for targeted therapies, toxicity screening, safety & efficacy evaluation, as well as pharmacogenomic studies.
Market Dynamics:
The cancer cell market is witnessing significant growth owing to advancements in cell therapy technologies. Cell therapy involves engineering a patient’s own cells to attack various cancers. Emerging cell therapy technologies are utilizing T cells and NK cells to target cancer cells. For instance, CAR-T (chimeric antigen receptor T-cell) therapy is a type of immunotherapy that utilizes patient’s T cells to target specific cancer cells. Additionally, increasing investment by both public and private organizations in cell-based research is also contributing to the market growth. Furthermore, growing prevalence of cancer worldwide due to changing lifestyle and increasing adoption of targeted therapies is fueling the demand for cancer cell lines in drug development activities. However, high costs associated with cell-based research and ethical issues pertaining to sources of cancer cell lines are some of the factors expected to hamper the market growth.
SWOT Analysis
Strength: Cancer cell therapies have significantly higher success rates than traditional treatments. They provide a tailored treatment approach with minimal side effects. Advances in genetic engineering allow development of highly targeted cancer cell therapies.
Weakness: High costs associated with research and development make cancer cell therapies expensive. Limited healthcare budgets may restrict widespread adoption. Complex manufacturing processes pose challenges in scaling up production.
Opportunity: Growing geriatric population vulnerable to cancer increases market potential. Rising incidence rates of cancer worldwide present opportunities for market expansion.
Threats: Stringent regulatory approvals delays market availability of new therapies. Safety concerns over long-term effects can impact product acceptance.
Key Takeaways:
The global Global Cancer Cell Market is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing prevalence of cancer worldwide. Rising cases of various cancers including lung cancer, breast cancer, prostate cancer, and colorectal cancer are driving the demand for advanced treatment options like cancer cell therapies.
The North America region currently dominates the cancer cell market owing to rapid adoption of novel therapeutics and sizeable healthcare spending. Presence of major market players and established healthcare infrastructure have made North America the largest regional market. Meanwhile, the Asia Pacific region is expected to exhibit highest growth in the coming years attributed to improving access to healthcare facilities, growing affluence, and expansion of local pharma industry in China and India.
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. These leading manufacturers are investing in R&D to develop more effective treatments backed by stronger clinical evidence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
