The Cell Proliferation Kit (CPK) Market is expected to register a CAGR of 7.5% during the forecast period. The major factors attributing to the growth of the market are rising volume of patients diagnosed with cancer, tumors and ongoing R&D activities across the globe. As per World health Organization report, cancer is a leading cause of death worldwide and estimated that nearly 9.6 million deaths in 2018. Also, lung cancer was identified as the most common cancer leading to death with 1.76 million deaths in 2018. Thus, growing prevalence of these diseases resulted in earlier assessment of viable cell-count, metabolic activity for effective treatment fuels the market growth. Furthermore, rise in government initiatives to control the healthcare burden, and growing healthcare awareness among are likely boost the Cell Proliferation Kit market.
Key Market Trends
Colorimetry Sub-segment is Expected to Hold a Major Market Share in the Cell Proliferation Kit Market
Colorimetry holds a significant market share in Cell Proliferation Kit market over the forecast period. The dominance is owing to increased adoption as measuring markers of cell activity. Huge demand for the method is due to their cost effectiveness, easier retrieval of high-throughput data, and key role in assessment of therapeutic efficacy. This method is widely employed determining various cellular activity such as DNA synthesis, metabolic activity, ATP production, the number of cells present etc., Various types of colorimetric assays like WST-1, WST-8, XTT, MTT, and others are available specific to tests. Thus, above mentioned factors are expected to fuel the growth of the segment.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
North America is expected to hold a major market share in the cell proliferation kit market. The dominance is due to growing number of new cancer cases like melanoma, urothelial carcinoma, lung cancer, and others each year in the region. Also, the presence of huge population of baby boomers leads to huge volume of elderly people who are at the risk of cancers. According to the estimates published by the American Cancer Society for the year 2020, lung cancer is the second most common cancer leading to 135,720 deaths in both men and women. Also, as per Thyroid Cancer Survivors Association, thyroid cancer affects nearly 52,890 new cases in the United States in 2020, which increased from 52,070 cases in the year 2019. Thus, growing cancer cases leads to increased demand for determining the growth rate of cellular population driving the growth of the market. Furthermore, ongoing research activities in oncology by key pharma and biotech companies necessitates the use of these kits to determine the therapeutic efficiency of drugs. Therefore, due to above mentioned factors expected to boost the cell proliferation kit market in the region to a large extent during the forecast period.
Competitive Landscape
The cell proliferation kit market is moderately competitive and consists of a several major players. In terms of market share, few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Merck KGaA, Thermo Fisher Scientific Inc, Bio-Rad Laboratories Inc, Becton, Dickinson and Company, and Agilent Technologies Inc (BioTek Instruments Inc).
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