by The global Cancer Cell Market is estimated to be valued at US$ 9,250 million in 2022 and is expected to exhibit a CAGR of 8.20 % over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cancer Cell Market involves using the body’s own immune system to fight cancer. It employs several approaches such as monoclonal antibodies, checkpoint inhibitors, interleukins, cancer vaccines and chimeric antigen receptor T-cell therapies. These immunotherapies empower the immune system to recognize and attack cancer cells in a highly precise manner. Cancer immunotherapy offers advantages like enhanced survival rates, long term remission and improved quality of life for patients. The growing awareness about immunotherapies and significant increase in R&D initiatives has spurred the demand for cancer immunotherapies worldwide.
Market key trends:
One of the key trends driving the cancer immunotherapy market growth is the rising preference for personalized immunotherapy. With the advancement of technologies like next-generation sequencing and bioinformatics, researchers can determine the genetic changes that characterize a patient’s tumor. This allows the development of tailored immunotherapies that precisely target the specific vulnerabilities of that patient’s cancer. Personalized cancer immunotherapies offer higher treatment efficacy with reduced side effects, thus fueling their increasing adoption.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the cancer cell market is low as setting up manufacturing facilities for cancer cells requires huge capital investments and compliance with strict regulatory approvals.
Bargaining power of buyers: The bargaining power of buyers is moderate as the demand for cancer cell therapies is growing, however, there are only a limited number of suppliers for specific cancer cell types in the market.
Bargaining power of suppliers: The bargaining power of suppliers is high in this market as the manufacturing process of cancer cells requires specialized expertise and facilities.
Threat of new substitutes: The threat of new substitutes is low as there are limited alternatives or substitutes for cancer cell therapies currently.
Competitive rivalry: The competitive rivalry in the cancer cell market is high due to the presence of global and local market players.
Key Takeaways
The Global Cancer Cell Market Size is expected to witness high growth, exhibiting CAGR of 8.20% over the forecast period, due to increasing prevalence of cancer worldwide and growing adoption of immunotherapy techniques.
North America is expected to dominate the global cancer cell market during the forecast period. This is attributed to the growing geriatric population, rising prevalence of cancer, availability of advanced healthcare infrastructure and high adoption of novel cancer treatment approaches in the region.
Key players operating in the cancer cell market are Abbott Laboratories, Novartis International AG, Arcellx, Autolus Therapeutics, Kite Pharma, Cellectis, Celyad Oncology, Crescendo Biologics Limited, GammaDelta Therapeutics Ltd., Bio-Rad Laboratories Inc, QIAGEN Inc, Thermo Fisher Scientific, Merck Millipore, Siemens Healthineers AG, and GE Healthcare. These players are focusing on developing advanced cancer cell therapies and establishing partnerships with leading research institutes to strengthen their presence in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
