(PharmaNewsWire.Com, September 08, 2020 ) [140 Pages Report] 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.
Research applications segment to dominate the cell surface markers market, by application, in 2018
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.
Academic & research institutes estimated to be the largest end users of cell surface markers in 2018
On the basis of end user, the cell surface markers market is segmented into academic & research institutes, hospitals & clinical testing laboratories, and pharmaceutical & biotechnology companies. 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.
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.
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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