New York, April 22, 2021 (GLOBE NEWSWIRE) -- Market size: USD 14.95 Billion in 2020, Market Growth: CAGR of 8.5%, Market Trends: Technological advancements and steady shift from conventional drug safety testing methods to cell-based assays
The global cell-based assays market size is expected to reach USD 28.2 Billion in 2028 and register a CAGR of 8.5%, according to the latest report by Reports and Data. Robust market revenue growth is attributed to key factors such as increasing investments by government and private sectors for cell-based research and rising prevalence of chronic diseases such as diabetes, cardiovascular, and neurological diseases, and cancer.
Cell-based assays are in-vitro assays used to analyze various cellular parameters such as cytotoxic testing and cell signaling activation. Technological advancements in cell-based assays and extensive utilization of these assays in various drug applications are supporting revenue growth of the cell-based assays market. Moreover, various leading players are focusing on strategies to expand respective product lines and portfolios, and ensuring their position in the market.
However, high cost of instruments, stringent restrictions on use of some reagents, and unavailability of skilled professionals are some major factors expected to restrain growth of the global cell-based assays market to some extent going ahead.
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Some key highlights From the report:
- Among the products and services segments, the services segment is projected to register fastest revenue CAGR of 20% over the forecast period, attributable to increasing dependency of laboratories on cell-based assays in research and development of enhanced drugs.
- The drug discovery segment accounted for largest revenue share in 2020 and is expected to continue dominating other application segments in the global cell-based assays market throughout the forecast period owing to high investments in R&D and increasing number of CROs to offer drug discovery services.
- Based on end-user, the academics & research institutions segment is projected to account for fastest growth during the forecast period owing to widespread use of cell-based assays for drug discovery and other applications.
- Asia Pacific market is expected to register fastest revenue CAGR of 11.6% during the forecast period owing to increasing technological innovations, rising funding from private as well as public organizations, and increasing drug developmental activities in countries in the region.
- North America accounted for largest market share in 2020 and is expected to continue dominating throughout the forecast period. High prevalence of chronic disease, growing adoption of cell-based techniques, and high availability of cell-based assays are some major factors supporting market growth in this region.
- Leading companies in the global cell-based assays market are 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).
- In April 2019, Cisbio Bioassays, which is a company that manufactures high-quality kits and reagents, was acquired by PerkinElmer, which will help these companies to expand their product range in the market.
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For this study, Reports and Data has segmented the global cell-based assays market based on Product and Services, Application, End-User, and Region:
Based On Product And Service (Revenue, USD Billion, 2018 - 2028)
- Consumables
- Reagents
- Assay Kits
- Reporter Gene Assays
- Cell Growth Assays
- Second Messenger Assays
- Cell Death Assays
- Other Assay Kits
- Cell Lines
- Immortalized Cell Lines
- Primary Cell Lines
- Stem Cell Lines
- Microplates
- Probes & Labels
- Other Consumables
- Instruments & Software
- Services
Based On Application: (Revenue, USD Billion, 2018 - 2028)
- Drug Discovery
- Toxicity Studies
- Pharmacodynamics Studies
- Pharmacokinetic Studies
- Basic Research
- Other Applications
Based On End User: (Revenue, USD Billion, 2018 - 2028)
- Pharmaceutical & Biopharmaceutical Companies
- CROs
- Academic & Research Institutes
Based On Region: (Revenue, USD Billion, 2018 - 2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Rest Of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
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