Market Challenges And Opportunities

However, factors such as high cost of instruments and dearth of skilled professionals are expected to hamper the market growth.

Another factor that is driving the growth of the global cell surface markers detection market is the rise in prevalence of cancer around the world. For instance, with the rise in burden of cancer and need for early diagnosis of cancer, the use or demand for cancer biomarkers is also increasing with the rapid pace. According to the World Health Organization (WHO), cancer is a leading cause of death worldwide, accounting for more than ten million deaths in 2020, or nearly 1 in 6 deaths. The most common cancers are breast, lung, colon and rectum and prostate cancers. This in turn is also driving the cell surface markers detection market growth.

Global Cell Surface Markers Detection Market Drivers:

Growing applications in disease diagnostics to boost market growth

One of the key factors expected to augment the growth of the global cell surface markers detection market over the forecast period is the rise in use of cell surface markers in disease diagnostics. For instance, in October 2021, BD Life Sciences-Biosciences and Christian Medical College, Vellore announced the launch of its Center of Excellence (CoE) in flow cytometry for clinical research in India. This CoE will serve as the National Reference Center for clinical diagnostics applications, thereby driving the growth of the market.

Global Cell Surface Markers Detection Market Opportunities:

Increasing demand for precision medicine across the globe is expected to offer significant growth opportunities for the players in the global cell surface markers detection market. For instance, cell surface markers play an important role in drug discovery and precision or personalized medicine. In October 2017, the National Institutes of Health (NIH) partnered with 11 biopharma companies to launch a 5-year (2017-22), public-private research collaboration to enhance precision medicine approaches to cancer care. The partnership will work to identify, validate, and develop biomarkers that may lead to innovative immunotherapy to treat a wide variety of cancers.

Growing adoption of flow cytometry in stem cell research is expected to offer significant growth opportunities for the players in the global cell surface markers detection market. For instance, flow cytometry is the methodology used for characterizing, analyzing, and isolating stem cells and their derivatives. According to the National Clinical Trial Registry (NCT), as of April 2021, there were about 320 registered clinical trials in various stages of development related to stem cell therapy in Germany. Thus, the increasing stem cell therapy research is expected to increase the demand for flow cytometry during the forecast period.

Global Cell Surface Markers Detection Market Restraints:

High cost of instruments to hinder growth of the market

One of the key factors expected to hamper the growth of the global cell surface markers detection market is high cost of instruments. Pharma companies need to invest heavily in instruments, such as flow cytometer and hematology analyzer, to research cell surface markers. For instance, pharma companies are becoming increasingly reluctant to invest in highly sophisticated flow cytometers and hematology analyzer due to the unclear cost-benefit relationship. This limits the entry of small-scale industries and start-ups into the cell surface markers detection market. Therefore, reluctance to invest in such instruments is expected to hinder market growth.

Dearth of skilled professionals to hamper the growth of the market

Another factor which is hampering the growth of the global cell surface markers detection market is the dearth of skilled professionals. For instance, the growing shortage of healthcare professionals (skilled/trained) are also having a great impact on the market, as skilled/trained professionals are required to operate the instrument or devices used in the cell surface markers detection. According to the December 2020 report by the European Commission (EC), almost all of the European Union (EU) countries reported a shortage of healthcare professionals, such as doctors, nurses, and health care assistants between 2019 and 2020.