Latest Research Report on Cell Surface Markers Market Growth, Industry Revenue Analysis
Growth in this market is driven by the rising global incidence of chronic diseases, increasing vaccine development to address the challenge of antimicrobial resistance, and technological advancements in Cell Surface Markers kits and analyzers.
The cell surface markers market is valued at an estimated USD 520 million in 2018 and is projected to reach USD 769 million by 2023, at a CAGR of 8.1%
+ Market Dynamics
+ Drivers
+ Increasing Funding for Life Science Research
+ High Global Prevalence of Cancer
+ Growth in Stem Cell and Neurobiology Research
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The cell surface markers market is segmented into research applications and clinical applications. The clinical applications segment is expected to witness higher growth during the forecast period primarily due to the rising prevalence of cancer and the increasing adoption of cell surface markers in cancer treatment.
The cell surface markers market is segmented into academic & research institutes, hospitals & clinical testing laboratories, and pharmaceutical & biotechnology companies. The hospitals & clinical testing laboratories segment is expected to register the highest CAGR during the forecast period. The increasing incidence of chronic diseases such as cancer and HIV is expected to boost the demand for cell surface markers in hospitals & clinical testing laboratories in the coming years.
North America is expected to be the largest regional market for cell surface markers
Market growth in North America, the largest regional market for cell surface markers, is primarily driven by the increasing number of R&D activities and the growing use of cell surface markers in personalized medicine and drug discovery & development. However, the market in Asia is estimated to grow at the highest CAGR during the forecast period. The high growth of the Asian market can be attributed to the increasing number of life sciences research activities and government initiatives to boost the biotechnology and pharmaceutical industries in several Asian countries.
Key Market Players
The cell surface markers market is highly fragmented in nature, with several big as well as emerging players. Prominent players in this market include Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), Becton, Dickinson and Company (US), F. Hoffman-La Roche (Switzerland), Bio-Rad Laboratories (US), Danaher Corporation (US), Abcam (UK), GenScript (China), BioLegend (US), Cell Signaling Technology (US), Merck KGaA (Germany), and Bio-Techne (US).
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