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.
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.
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.
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Key Market Players
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.
Research Recent Developments Analysis
1. 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.
2. 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.
3. 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.