February 23, 2024
Cancer Cell Market

Emerging T-Cell Therapies Set To Boost Growth Of Cancer Cell Market

The cancer cell market comprises products and tools designed for isolation, expansion, manipulation, transportation and purification of cancer cells. Cancer cells differ from normal cells in biological behavior and characteristics due to genetic mutations. Cancer cell biology provides researchers insights into how cancer develops, spreads and responds to different drug therapies. Studying cancer cells helps develop novel drugs and diagnostic procedures for cancers. Growing focus on personalized medicine is fueling demand for cancer cell biology products to better understand disease mechanisms and patient response to therapies.

The global 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 key trends:

One of the major trends gaining traction in the cancer cell market is rising adoption of T-cell therapies. T-cell therapy is an evolving form of immunotherapy that utilizes living cells to target and destroy cancers. Emerging T-cell therapies such as CAR-T cells and TCR therapies are demonstrating encouraging clinical benefits for treatment of hematologic cancers and solid tumors. Increasing clinical success of T-cell therapies is expected to drive their demand, contributing to growth of the cancer cell market. T-cell therapies require isolation and purification of immune cells from patient blood, fueling use of cancer cell biology tools in research and development as well as commercial production of these novel targeted therapies.

Porter’s Analysis

Threat of new entrants: The cancer cell market requires high R&D investment and strict regulatory approvals which makes the threat of new entrants moderate.
Bargaining power of buyers: There exists a large buyer base for cancer cell therapies as cancer is highly prevalent. However, the bargaining power of individual buyers remains low owing to the specialized nature of therapies.
Bargaining power of suppliers: A few large players dominate the supply market for cancer cells. However, the supplier market remains fragmented with opportunity for small players to enter.
Threat of new substitutes: Related markets like tumor cell lines, biochips see continuous innovation. However, substitutes still remain narrow in scope and cancer cell analysis holds significant potential.
Competitive rivalry: Major players compete on technology and service differentiation. However, market dominance and scale of larger firms restricts intense competitiveness.

Key Takeaways

The Global Cancer Cell Market Size is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing prevalence of cancer worldwide. According to WHO, cancer incidence is estimated to rise by over 70% in the next two decades.
Regional analysis indicates North America dominated the market in 2023 with over 35% share owing to presence of sophisticated healthcare infrastructure and high adoption of advanced cancer diagnostics. Asia Pacific is anticipated to be the fastest growing region during the forecast period supported by growing healthcare expenditure, increasing awareness about cancer care, and expanding diagnostic capabilities in countries like China and India.
Key players operating in the cancer cell market include 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 players compete on grounds of technology differentiation, wide service and product portfolio, and global footprint.

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