Cell based assays have pool of information which can come in handy in variety of drug discovery applications. The assays can be valuable tool to determine the cytotoxicity of a material i.e. it can be used to identify how toxic a material is for cells. As the prevalence of chronic diseases has increased in recent period, the demand for new drugs has increased exponentially today. As a result of which various clinical institutes are focusing on conducting study on biological activity of drug and determine the mechanism of action (MOA) of the drug substances.
These studies provide early stage proof that the antibodies produced by the patient’s body neutralize the drug products. The growing number of these such studies are the major factors that are responsible for the growth of global Cell Based Assays Market in forecast period of 2017 to 2022 states the latest report by Transparency Market Research.
Based on the rising number of clinical studies the cell based assays market is expected to witness a substantial 7.7% CAGR during the projected period. In terms of revenue, the global cell based assays market is estimated to be worth US$19,710.7 mn by 2022, significantly up from its evaluated valuation of US$13,576.7 mn in 2017.
Prominence of Reagents and Consumable Segment
Global cell based assays market is categorized in assay kits, instruments, services, reagents and consumables, and software. Out of these categories the reagents and consumables is likely to emerge as a dominant segment in the market. The report predicts that in 2017 the segment accounted for 32.1% of total demand for cell based assays and worth US$ 4.3 bn. However, because of few complexities involved in high throughput screening, the segment’s growth is expected to get hampered in the forecast period, it is still expected to remain the dominating segment. With the revenue generation of US$ 6.26 bn, the segment is expected to bag 7.7% CAGR from 2017 to 2022.
Request a Sample of Cell Based Assays Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=846
North America Remains Dominant till 2022
Having registered demands for worth US$ 5.16 in 2017 bn North America remains a dominant region in the cell based assays market. The region is expected to witness an incrementing 8.2% CAGR that is luring various players to invest in the region. With this rate, North America is expected to generate US$ 7.67 bn during the forecast period. This growth in terms of revenue is the result of funds availability essential for intense research programs in the U.S. Moreover, presence of numerous pharmaceutical companies aiming to develop new medicines in the country are extensively using various products for cell based assays market. This is another reason that fuels the dominance of North America over other regions of the global cell based assays market during the forecast period.
Request For Discount On Cell Based Assays Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=846
Role of Technology in Cell Based Assays Market
Data is the new oil. This is something that is most of the businesses focus on to gain maximum profit. Cell based assays market’s player also rely on the data generated by every research they or their competitors ever conducted. Since the researches are long and take a considerable amount of time to give optimal results, data sorting, processing, and storage is something that every pharmaceutical organization calls for today. Arrival of technologies like cloud, big data, machine learning, and artificial intelligence allow the players to generate insights that can help them deliver tighter results in less time.
Request For Custom Research – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=846
Artificial Intelligence is one of the most remarkable technology that players of cell based assays market are adopting these days. The technology allows the players to conduct automated simulation of the numerous researches simultaneously. These results can be stored, updated, and modified in real-time using cloud connectivity and other software that are currently available in the market. With these adoptions, players can improve their overall productivity resulting in their growth as an individual in the cell based assays market.
Read Press Release on Cell Based Assays Market – https://www.transparencymarketresearch.com/pressrelease/cell-based-assays.htm
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Cell Based Assays Market (Product Type – Instruments, Assay Kits, Reagents and Consumables, Software, and Services; End Users – Pharmaceutical and Biotech Companies, Academic Institutions, and Contract Research Organizations; Applications – Drug Discovery, Basic Research, and Predictive Toxicology) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022.”
More Trending Reports by Transparency Market Research –
About Us:
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.