Rising prevalence of chronic diseases, increasing number of pharmaceutical and biopharmaceutical companies globally, and technological developments in cell-based assays are some key factors fueling growth of the global cell-based assays market
Market size: USD 14.95 in 2020, Market Growth: CAGR of 8.5%, Market Trends: Rising focusing on developing advanced cell-based assays
The global cell-based assays market size is expected to reach USD 28.2 Billion by 2028 and register a CAGR of 8.5% over the forecast period, according to the latest report by Reports and Data. Some key factors such as growing funding by public and private sectors and increasing utilization of cell-based assays in drug discovery are driving global market revenue growth.
Cell-based assay is a technique used for analyzing living cells based on various parameters and also aids in measuring cell toxicity, motility, proliferation in diagnostics and drug discovery. High demand for cell-based assays in drug discovery and development is rapidly escalating revenue growth. Moreover, technological developments in cell-based assays, and rising adoption of 3D-based cell assays, and increasing need for developing biologically relevant substitutes for drug discovery are some significant factors boosting market growth.
Overall high cost of assays due to high maintenance and instrument costs, lack of skilled professionals, and stringent regulations on reagent usage are some key factors expected to hamper growth of the cell-based assays market to some extent throughout the forecast period.
Leading companies operating in the market and profiled in the report include:
Danaher Corporation (US), Thermo Fisher Scientific (US), Merck KGaA (Germany), Becton, Dickinson and Company (US), PerkinElmer, Inc. (US), Promega Corporation (US), Charles River Laboratories (US), Lonza (Switzerland), BioAgilytix Labs (US), Reaction Biology Corporation (US), and AAT Bioquest (US).
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Dominant key players in the market are adopting various strategies like mergers and acquisition, partnerships, collaborations, joint ventures and product launches to gain a robust footing in the market. Growing demand for various medical products, increasing adoption of home-care settings, point-of-care diagnosis, high demand for vaccines and medication for controlling COVID-19 is expected to benefit the key companies throughout the forecast period.
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Global Cell-based Assays Market Segmentation:
Based On Product And Service (Revenue, USD Billion, 2018 – 2028)
Based On Application: (Revenue, USD Billion, 2018 – 2028)
Based On End Use: (Revenue, USD Billion, 2018 – 2028)
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The global Cell-based Assays market is broadly divided into 5 major regions, viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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