The Cell surface markers detection market is estimated to be valued at US$ 5,459.5 Mn in 2023 and is expected to exhibit a CAGR of 9.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cell surface markers are proteins located on the surface of cells that are detected to analyse various physiological and pathological conditions of cells and tissues. They play a pivotal role in identification of cell types, immune cells, and cancer cells. Various application areas of cell surface markers include research, disease diagnosis, drug development, and treatment monitoring. Some key products utilizing cell surface markers are flow cytometry kits, reagents, instruments, hematology analyzers, and mass spectrometry systems.
Market Dynamics:
Rising prevalence of cancer globally is a major driver estimated to fuel the growth of cell surface markers detection market during the forecast period. According to WHO, cancer burden has risen to 19.3 million cases and 10 million cancer deaths in 2020 worldwide. Early detection through cell surface markers can significantly improve treatment outcomes and survival rates. Additionally, growing demand for personalized medicine and companion diagnostics for targeted drug development is also propelling the market growth. However, high costs associated with instruments and reagents may hinder the market growth.
SWOT Analysis
Strength: Cell surface markers detection help diagnose and monitor disease progression accurately. It enables understanding disease mechanisms at molecular level. Advances in technologies have improved test sensitivity and specificity.
Weakness: Cell surface markers detection depends heavily on antibody specificity and purity which can vary. Lack of standardized protocols, platforms and nomenclature poses challenges.
Opportunity: Rising incidence of cancer and infectious diseases drive the need for cell surface markers detection. Growing biopharmaceutical industry utilizes these tests for drug development and treatment monitoring. Emerging economies offer huge untapped market potential.
Threats: High infrastructure cost associated with setup and maintenance limits accessibility. Stringent regulatory approvals and intellectual property issues can delay market entries.
Key Takeaways
The Global Cell Surface Markers Detection Market Demand is expected to witness high growth, exhibiting CAGR of 9.1% over the forecast period, due to increasing prevalence of chronic diseases. The market size for 2023 is US$ 5,459.5 Mn.
Regional analysis: North America dominated the market with over 30% share in 2023 owing to advance healthcare infrastructure and high adoption rates. Asia Pacific is anticipated to grow at fastest pace due to rising healthcare spending, healthcare reforms and expanding medical tourism.
Key players: Key players operating in the cell surface markers detection market are Grifols SA, Abbott Laboratories, Sysmex Corporation, Agilent Technologies Inc., Nexcelom Bioscience, Thermo Fisher Scientific Inc., Siemens Healthineers, Nihon Kohden Corporation, F. Hoffmann-La Roche Ltd., Bio Rad Laboratories Inc., Becton, Dickinson and Company (BD), Qiagen NV, Diasorin SpA (Luminex Corporation), Danaher Corporation (Beckman Coulter Inc.), and IVD Medical Holding Limited (Immucor Inc.), among others.
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