New York, Feb. 17, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cell Based Assays Global Market Report 2022" - https://www.reportlinker.com/p06229171/?utm_source=GNW
The global cell based assays market is expected to grow from $20.73 billion in 2021 to $22.58 billion in 2022 at a compound annual growth rate (CAGR) of 9%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $31.87 billion in 2026 at a CAGR of 9%.
The cell based assays market consists of sales of cell based assays.Cell-based assays are analytical tools that are designed to study a mechanism or process of cellular function.
Companies developing cell based assays provide consumables such as reagents, assays kits and microplates as well as instruments, services and software. This report includes sales of reagents, cell lines, microplates, microplate, assay kits, probes and labels, and others.
The main product and services of cell based assays are consumables, instruments, services, and software.Consumables are products that are used up or depleted throughout their use.
The various instruments used are microplates, microplate readers, high throughput screening, and liquid handling systems and different consumables include reagents and media, cells and cell lines, probes and labels. The several technology types of cell based assays are automated handling, flow cytometry, label-free detection, high-throughput screening, others and are applied for drug discovery, basic research, ADME studies, predictive toxicology, others. The different end users include pharmaceutical and biotechnology companies, academic and government research institutes, contract research organizations (CRO) and others
Research with cell based arrays is increasing with evolution and there is a definite need to move to more predictive cellular models for drug discovery in order to control the last-stage drug failures.The pharmaceutical industries’ need to efficiently commercialize drugs in order to overcome expensive failures in the last stages is a driving force in cell-based assay innovation.
Failure of investigational new drug (IND) Phase III clinical trials results in a loss of several hundred million dollars to that company.For instance, according to report by Sigma, the return on investment for pharmaceutical companies could drop to 5% considering the current level of late-stage failures, and is an unacceptable level for most companies.
Major improvements to high-content systems and data analysis from the cell based assays enable scientists to extract a more information about the cellular response and help take informed decisions during drug discovery, and further driving the market for cell based arrays.
High cost of instruments is the major factor restraining the global cell based assays market.High price of the instrumentation will reduce the return on investments (ROI) owing to low adaptation.
For example, Biotek developed HCA (high content analysis) instruments and are expensive and reserved for industrial end-users or core labs which have sufficient capital budgets. This restricts the low budgeted end-users to use cell based assays to its full potential, thereby hampering the growth of the market.
Researchers are inclining towards early phase predictive toxicity testing that prevent late-stage drug failures.Predictive cell toxicity assays are being scaled up to increase screening of compounds in the early phases of drug development, reducing the cost of failure.
For instance, Creative Bioarray, a biotech company provides a range of in vitro toxicity services to check drug-induced toxicities that save time and cost by reducing the chance of failure in earlier stage. These advances will make clinical testing easy and reduce the cost of operation.
In April 2019, PerkinElmer, a global corporation for diagnostics, life science research, food, environmental and industrial testing acquired Cisbio Bioassays for an undisclosed amount.The acquisition expands PerkinElmer’s R&D capability in cell based assay, and customer base in key growth geographies including the Americas, Europe, and China in order to expand its market reach for reagents.
Cisbio Bioassays is a custom assay service provider based in Codolet, France and was founded in 1974.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the cell based assays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
Read the full report: https://www.reportlinker.com/p06229171/?utm_source=GNW
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