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.
[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.
Cell Surface Markers Market by Product (Antibody, PCR Array), Source (Mice, Rat), Cell Type (T cells, B cells, NK cell), Application (Research (Stem Cell, Immunology), Clinical (Oncology, Hematology)), and End User (Hospitals) – Global Forecast to 2023
What drives the Market?
- Increasing Funding for Life Science Research
- High Global Prevalence of Cancer
- Growth in Stem Cell and Neurobiology Research
The increasing number of R&D activities and the growing use of cell surface markers in personalized medicine and drug discovery & development.
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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).
Abcam is one of the prominent players operating in the cell surface markers market. 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.
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- In 2018, Thermo Fisher Scientific acquired the Advanced Bioprocessing business of Becton, Dickinson and Company. This will be integrated into the Life Sciences Solutions segment of Thermo Fisher.
- In 2018, Abcam entered into an exclusive license agreement with Roche. Under this agreement, the product portfolio of Spring Bioscience Corporation has been licensed to Abcam for research use only (RUO) applications.
- In 2018, QIAGEN opened its new shared service center in Manila—QIAGEN Business Services (QBS). QBS will provide services related to supply chain management, customer care, accounting, technical services, and other sales support activities to QIAGEN’S global operations.