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 Overview:
Cancer cells are abnormal cells that have acquired self-sufficiency in growth signals, insensitivity to growth-inhibitory (antigrowth) signals, evasion of programmed cell death (apoptosis), limitless replicative potential, sustained angiogenesis, and tissue invasion and metastasis. Cancer cell lines are valuable tools for cancer research including drug development and discovery.
Market key trends:
One of the major trends in the cancer cell market is the growing adoption of artificial intelligence and machine learning technologies. AI and ML facilitate extraction of insights from large volumes of multi-omics patient data and accelerate drug discovery. Companies are focusing on development of in silico models for virtual screening of novel drug candidates. Another key trend is the rising focus on development of patient-derived xenograft (PDX) models. PDX models resemble patient tumors more closely and help evaluate personalized treatment strategies.
Segment Analysis
The Global Cancer Cell Market is segmented into chemotherapy, immunotherapy, targeted therapy, hormonal therapy, photodynamic therapy and surgery. Among these, chemotherapy is currently the dominant segment owing to its effectiveness against various cancer types. Chemotherapy involves using anti-cancer drugs to destroy cancer cells by stopping them from growing and dividing. It is commonly used for treating cancers like breast cancer, lung cancer and leukemia amongst others.
Key Takeaways
The global cancer cell market is expected to witness high growth, exhibiting CAGR of 8.9% over the forecast period, due to increasing incidence of cancer cases globally.
Regional analysis
North America currently dominates the cancer cell market owing to the rising prevalence of cancer in the US and Canada. Furthermore, presence of supportive government funding for cancer research and well-developed healthcare infrastructure in the region also contributes to its large market share. Asia Pacific is expected to be the fastest growing region in the cancer cell market supported by improving healthcare infrastructure and increasing healthcare expenditure in emerging countries like India and China.
Key players
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 players are focusing on new product launches and strategic collaborations to gain a competitive edge in the market. For instance, in 2023, Arcellx announced a strategic collaboration with Kite Pharma to develop novel engineered cell therapies for solid tumors.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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