Cancer Cell Market is Anticipated to Witness High Growth Owing to Increasing Incidences of Cancer
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Cancer Cell Market |
Cancer
cells are abnormal cells that multiply uncontrollably and destroy healthy
tissue. Cancer cells are extensively used in research and drug development for
various cancer types. The global cancer cell market has witnessed significant
growth in recent years due to growing cancer prevalence worldwide and expanding
pharmaceutical R&D investments. Cancer cells are used to determine how
cancer cells interact, spread or respond to potential treatments. The
availability of various cancer cell lines with unique biological properties has
further boosted their applications in personalized medicine and precision
oncology.
The Global cancer cell market is estimated to be valued at US$ 12440.97 Billion
in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024
to 2030.
Key Takeaways
Key players operating in the cancer cell market are Honeywell International
Inc., Siemens AG, General Electric Company, and Schneider Electric SE. These
major players are focusing on expanding their product portfolio and global
footprint through mergers and acquisitions.
There are significant opportunities for market players in developing regions
due to increasing healthcare investments and growing cancer research
activities. Several biotech startups are also emerging which is expected to
introduce innovative cancer cell analysis technologies.
The major players are actively pursuing global expansion strategies through
collaborations with local research institutes and hospitals. For instance, in
2021, Honeywell International partnered with an Indian hospital to deliver
advanced cancer diagnostic solutions. This allows companies to access new markets
and provide customized solutions.
Market Drivers
Growing geriatric population susceptible to cancer is a major driver for the
cancer cell market. According to WHO, over 60% of new cancer cases and 70% of
cancer deaths occur in people above the age of 65 worldwide. This increases the
demand for cancer cell research.
Growing collaborations between pharmaceutical companies and research
laboratories is another key driver. Pharmaceutical players leverage cancer
cells to expedite drug development process and evaluate drug efficacy during
pre-clinical trials. This helps in reducing costs and time to market.
Market Restrain
High costs associated with cancer cell culture techniques, media and reagents
pose a major challenge, especially for small biotech startups and academic
research organizations in developing countries.
Stringent regulatory norms governing the procurement and handling of cancer
cell cultures further increase compliance costs. Any non-compliance may also
risk clinical research programs. This acts as a restrain.
Segment Analysis
The Global Cancer Cell
Market Share can be broadly categorized in lung
cancer cell, blood cancer cell, gastrointestinal cancer cell, prostate cancer
cell, ovarian cancer cell, breast cancer cell, skin cancer cell, and other
cancer cells. Among these, the lung cancer cell dominated the market in 2024
due to high prevalence of lung cancer worldwide. Lung cancer is the leading
cause of cancer-related mortality and is responsible for over 1.8 million new
cases and 1.6 million deaths annually across the globe. Moreover,
smoking-induced lung cancer cases have increased rapidly over the decades,
further driving the demand for lung cancer cells in research.
Global Analysis
Geographically, the North America region held the largest share of cancer cell
market in 2024 owing to continuous developments in cancer research and
biotechnology sector along with rising private and public funding for research
activities. Additionally, presence of advanced research infrastructure and
prominent biopharmaceutical companies in the US have boosted regional market
growth. The Asia Pacific region is estimated to register the fastest growth
over the forecast period. This is attributed to rising incidences of cancer,
growing healthcare expenditure, increasing government emphasis on research and
development activities.
For more insights, Read- https://www.rapidwebwire.com/cancer-cell-market-growth-market-size-share-analysis/
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