CHICAGO, December 18, 2018 /PRNewswire/ --
According to the new market research report "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", published by MarketsandMarkets™, the market is valued at an estimated USD 520 million in 2018 and is projected to reach USD 769 million by 2023, growing at a CAGR of 8.1% during the forecast period.
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The growth of this market is driven by factors such as the high global prevalence of cancer, growth in stem cell and neurobiology research, and the increasing funding for life sciences research.
Clinical Applications Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Based on application, 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.
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Hospitals & Clinical Testing Laboratories use Cell Surface Markers for the Diagnosis of Various Diseases
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. 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 in 2018
The global Cell Surface Markers Market is segmented into four major regions, namely, North America, Europe, Asia, and the Rest of the World. In 2018, North America is expected to account for the largest share of the market. The large share of the North American market is attributed to factors such as the increasing number of R&D activities and the growing use of cell surface markers in personalized medicine and drug discovery & development. In 2018, Europe is expected to be the second-largest regional market for cell surface markers. Factors such as the increasing public and private funding for advanced cell-based research activities and the presence of a large number of academic research institutes (using cell surface markers in their research activities) in the region are expected to fuel market growth in Europe.
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The global Cell Surface Markers Market is highly competitive owing to the presence of several large and small players. 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) are some of the leading players operating in the global Cell Surface Markers Market
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