Market Overview:
The cancer cell market involves cancer cell services for research applications such as drug discovery, personalized medicine and others. Cancer cell lines are used in various cancer studies such as mechanism of cancer formation, cancer progression and drug efficacy. Researchers extensively use cancer cell lines to understand how certain drugs affect cancer growth and cell death. Cancer cell services provide cultured cancer cell lines and primary cells from different types and sub-types of cancer.
Market Dynamics:
Increasing prevalence of cancer across the globe is a key factor driving growth of the cancer cell market. According to the World Health Organization (WHO), cancer is the second leading cause of death worldwide and accounted for an estimated 9.6 million deaths in 2018. Furthermore, rising funding for cancer research is also propelling the market growth. National Cancer Institute provides funding to various initiatives for cancer research. However, high cost associated with development and maintenance of cancer cell lines and ethical issues regarding use of patient-derived cancer cells is expected to hinder the market growth.
Segment Analysis
The Global Cancer Cell Market is dominated by the T-cells sub-segment owing to advantages such as high accuracy, long lasting effect and ability to target a wide range of tumor-associated antigens. T-cells can recognize cancer cells in an antigen-specific manner and destroy them without harming other healthy cells. This property enables T-cells to eliminate cancer cells more effectively than other cell therapies.
PEST Analysis
Political: Government regulations around the world support the growth of cell therapies to treat cancer. Standards have been set around safety and efficacy of these therapies.
Economic: Rising healthcare spending on cancer treatment is driving research into advanced therapies. The high cost of cell therapies is also a factor pushing pharmaceutical companies to make them more affordable.
Social: Growing cancer prevalence is raising awareness about new treatment options. Patients and their families are willing to try cell therapies that may provide a cure.
Technological: Advanced research in immunology, gene editing and other areas is improving techniques to genetically modify cells for personalized cancer treatment with fewer side effects. Automated manufacturing helps increase the supply ofapproved cell therapies.
Key Takeaways
The global cancer cell market size was valued at USD 10799.45 Million in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 8.9% during the forecast period to 2030 due to increasing demand for personalized medicine and new product approvals.
Regionally, North America holds the largest share in the global cancer cell market due to increasing research funding, approval and adoption of advanced therapies in the region. Asia Pacific is expected to witness the highest CAGR over the forecast period supported by rising healthcare investments, growing cancer prevalence and expanding biotech industry in the region.
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. Major players are focusing on developing innovative personalized cell therapies through investments in R&D and strategic collaborations to strengthen their product portfolios and market shares.
Read More: https://www.ukwebwire.com/cancer-cell-market-growth/
Comments
0 comment