WELLESLEY, Mass., Aug. 08, 2017 (GLOBE NEWSWIRE) --
Increasing research spending by pharmaceutical companies and academic institutions is driving growth in the global market for cell-based assays, which has the potential to reach $28.4 billion by 2021. In a new report by BCC Research, applications of cell-based assays and the industry’s major players are studied.
Cell-based assays track changes in living cells that occur in response to a wide variety of external stimuli, signals, and events. For a drug developer, the aim of using cell-based assays is to create efficacious and specific drugs, and for basic science researchers, it is to elucidate the biological mechanisms of diseases at the molecular and cellular levels. The cell-based assays market is expected to expand at a five-year compound annual growth rate of 10.6% from an estimated $17.1 billion in 2016, according to the report Cell-Based Assays: Technologies and Global Markets.
The need for companies to expand their product pipelines and the benefits of cell-based assays compared with in vivo methods are also driving growth in this market.
Research Highlights
- Flexibility and cost advantages of in-vitro cell-based methods, as well as advancements in automation and high-throughput techniques, offer support to this market.
- The drug discovery segment is expected to expand as specialized and improved products are developed that provide a greater understanding of cell mechanisms.
- Growth is projected in all regions, including the Asia-Pacific, where an increase in healthcare spending is linked to this region’s growing population.
Cell-Based Assays Are Needed for Toxicity Testing
The drug development process is still plagued by adverse events. In-vitro toxicology testing is integrated in the early stages of drug development. New screening technologies, such as in-vitro assays and computational tools, are being used. In addition, newer functional 3D in-vitro systems are being developed to create organs and subsystems to model their functions and diseases.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.