April 22, 2024

Cancer Cell Market Is Expected To Be Flourished By Adoption Of New Cancer Treatments

Cancer cells refer to cells that have undergone malignant transformation and exhibit uncontrolled division and growth. Cancer cells can form tumors and invade nearby tissues. Based on cell of origin, there are various types of cancer such as breast cancer, lung cancer, prostate cancer, colon and rectal cancer, skin cancer, and others. Standard treatment options for cancer include surgery, radiation therapy, chemotherapy, targeted therapy, and immunotherapy. New treatment options such as chimeric antigen receptor T-cell (CAR-T) therapy and personalized cancer vaccines are gaining popularity. CAR-T therapy is a type of immunotherapy that utilizes T cells collected from a patient to help fight cancer. Personalized cancer vaccines are produced using mutations detected in an individual patient’s tumor sample. The global cancer cell market is estimated to be valued at US$ 10799.45 Mn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Adoption of New Cancer Treatments
Continuous efforts in cancer research have led to development and adoption of new targeted and personalized treatment options. CAR-T cell therapy and personalized cancer vaccines deliver promising results in clinical trials and are increasingly adopted for treatment of certain types of cancers. Rising adoption of these new precision and personalized treatment approaches is expected to drive the demand for cancer cells in R&D activities.

Segment Analysis
The Global Cancer Cell Market Size is dominated by the cytotoxic drugs sub-segment owing to its widespread usage in chemotherapy. Cytotoxic or chemotherapy drugs work by killing fast-growing cancer cells which usually also kills fast-growing normal cells, resulting in side effects. These drugs are the first line treatment for cancer patients and account for over 50% market share in terms of revenue.

PEST Analysis
Political: Increased government funding for cancer research in major markets such as North America and Europe is supporting market growth. Various regulations ensure drug safety and approval.
Economic: Rising healthcare expenditure coupled with growing cases of cancer globally is fueling the market. The average annual cost of cancer treatment ranges between $20,000 to $100,000 based on type and stage of cancer in the US.
Social: Growing public-private partnerships to spread cancer awareness and changing lifestyle habits increasing risk of various cancers. Early detection and diagnosis are important socially and help cure rate.
Technological: Biomarker development, targeted therapy drugs, nanotechnology-based diagnostics and drug delivery systems have enhanced outcomes and helped market growth. Immunotherapies are latest technological advancement pursued for superior efficacy.

Key Takeaways
The global cancer cell market is expected to witness high growth over the forecast period owing to growing geriatric population grappling with various cancers, increased risk factors like smoking, pollution and changing lifestyle patterns.

Regional analysis: North America dominates the cancer cell market currently accounting for over 40% share owing to supportive reimbursement policies, availability of advanced treatments and growing demand. The US cancer market holds the major share in the region owing to concentration of key players and healthcare infrastructure.

Key players operating in the cancer cell market are Honeywell International Inc., Siemens AG, General Electric Company, and Schneider Electric SE. Honeywell International is a leading player focused on developing biomarkers and cancer diagnostic kits. GE Healthcare offers various in-vitro cancer diagnostic imaging and precision oncology solutions.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it