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(Health-NewsWire.Net, November 22, 2021 ) 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% during the forecast period. Factors such as the increasing funding for life sciences research, high global prevalence of cancer, and growth in stem cell and neurobiology research are expected to drive the growth of this market in the coming years.
On the basis of antibodies by source, the global cell surface markers industry is segmented into mice, rats, and other sources. In 2018, the mice segment is expected to account for the largest share of the cell surface markers market. This segment is also expected to grow at the highest CAGR during the forecast period primarily due to the cost-effectiveness offered by mice models as a source of antibody production.
The cell surface markers market, by cell type, is segmented into T cell surface markers, B cell surface markers, NK cell surface markers, monocyte cell surface markers, and other cell types. In 2018, the T cell surface markers segment is expected to account for the largest share of the cell surface markers market. The increasing use of these cell surface markers in research and diagnostics is expected to fuel the growth of this segment.
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Based on application, the cell surface markers market is segmented into research and clinical applications. In 2018, the research applications segment is expected to account for the largest share of the cell surface markers market. The large share of this segment can primarily be attributed to the rising public-private funding for cell surface marker-based research and the growing use of cell surface markers in cancer, stem cell, and HIV research.
In 2018, the academic research institutes segment is expected to account for the largest share of the cell surface markers market. The growing use of cell surface markers in cancer, stem cell, and HIV research; increasing number of cancer and stem cell research projects across the globe; and the rising public-private funding for cell surface marker-based research are the major factors driving the growth of this end-user segment.
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.
The strong position of the company in this market can be attributed to its robust product portfolio. The company has a strong geographical presence in the European and Asia Pacific markets with its manufacturing facilities in the UK, Japan, and China. The company also has significant market presence in the US and Latin America.
Thermo Fisher Scientific is another leading player in the cell surface markers market. The company’s strong brand recognition and extensive product portfolio in this market are its key strengths. To maintain its leading position in the market, the company adopts organic as well as inorganic growth strategies such as acquisitions and expansions.
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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