Cell surface markers detection plays a significant role in immunotherapy. Cell surface markers are molecules present on the surface of cells that provide information about the type of cell and its physiological state. Detection of cell surface markers is essential for identification and characterization of cell populations, which helps guide treatment decisions.
The global 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 Opportunity:
The growing opportunity for more targeted treatment through immunotherapy offers promising growth prospects for the cell surface markers detection market. Detection of specific cell surface markers helps identify cancer subtypes and guide patient selection for immunotherapy. It helps select the right type of immunotherapy based on the marker profile of a patient's tumor. This facilitates a more personalized approach to cancer treatment. With advancement in immunotherapy techniques, detection of a wider range of cell surface markers is crucial to further improve treatment outcomes. Growing research focus on combinational immunotherapies using marker profiling is also expected to drive demand for cell surface markers detection solutions.
Porter’s Analysis
Threat of new entrants: The cell surface markers detection market requires substantial capital investments for RD activities and regulatory compliance. These significant entry barriers reduce the threat of new entrants.
Bargaining power of buyers: The buyers in this market include hospitals, research laboratories and diagnostic centers. The bargaining power of buyers is moderate as the availability of substitutes is limited and switching costs are high.
Bargaining power of suppliers: The key suppliers providing reagents and instruments have a moderate level of bargaining power due to the intellectual property and technical expertise required.
Threat of new substitutes: There exists a low threat of substitutes as cell surface markers detection is an established diagnostic method compared to newer technologies.
Competitive rivalry: The market is consolidated with key players differentiating based on service and technological innovations. Intense rivalry exists to gain greater market share.
SWOT Analysis
Strength: Cell surface markers detection provides accurate diagnosis and is a minimally invasive procedure. It also allows for multi-color analysis using multiple fluorescent tags.
Weakness: High capital investments and operational costs. Stringent regulatory approvals process.
Opportunity: Increasing incidence of chronic diseases. Growing application of cell surface markers in immunology research and drug discovery.
Threats: Reimbursement issues influencing purchasing decisions. Economic slowdowns reducing healthcare spends.
Key Takeaways
The global cell surface markers detection market is expected to witness high growth over the forecast period of 2023-2030. The rising prevalence of chronic and infectious diseases globally is the prime factor driving market growth. According to the WHO, cancer is the second leading cause of death globally and biomarkers play a crucial role in cancer detection and management. Cell surface markers find important applications in identification of cell types, detection of disease conditions, monitoring treatment responses, and drug discovery and development processes.
Regionally, North America commanded the largest share of the global cell surface markers detection market in 2023. This can be attributed to well-established healthcare infrastructures, high healthcare expenditures, presence of leading market players, and new product launches. However, Asia Pacific is anticipated to exhibit the highest CAGR during the forecast period owing to increasing healthcare expenditures, growing penetration of cutting-edge biotechnologies, and expansion of key players in emerging countries.
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. The players compete based on parameters such as product portfolios, pricing, quality, and technological innovations
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