Increasing number of drug discoveries is expected to drive the growth of global Cell Based Assays in the forecast period, 2024-2028.
According to TechSci Research report, “Cell Based Assays Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the global cell-based assays market is anticipated to grow at an impressive rate in the forecast period 2024-2028. This can be ascribed to the increasing demand for identification and optimization procedures in drug development along with the rapid adoption of cell-based assays by biopharmaceutical companies across the globe. Additionally, technological advancements in the end users for cell-based assays and introduction of new drugs especially in the developed countries in the North America and Europe, altogether, are expected to create lucrative opportunities for the market growth in the coming years. Besides, increasing investment for research and demand for manufacturing of cell-based assay products in underdeveloped and developing countries are further expected to support the market growth. Similarly, in biomedical research screening for biological activity and biochemical mechanisms, and off-target interactions for a molecule is anticipated to boost the market growth during the forecasted year. Also, many private firms offer customized assays that suit individual research need a focus on a therapeutic regime to combat a particular disease which will further drive the market growth during the forecasted years.
However, increasing usage of expensive systems and high price of the instruments often reduce the return on investment, thereby creating low adoption, consequently, slowing down the growth of global cell-based assays market in the forecast period. Similarly, a dearth of suitable professionals may hamper the cell-based assays market growth during the forecast period. Also, the lack of awareness about new assays for the research and development in emerging countries can further restrict the growth of global cell-based assays market.
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The global cell-based assays market can be segmented by products and services, by application, by end user and by region. Based on products and services, the global cell-based assays market can be segmented into Reagents, Assay Kits, Microplates, Probes & Labels, Cell Lines, Others. The assay and kits segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to increasing usage in biopharmaceutical companies for drug development across the globe.
Based on application, the market can be segmented into Clinical Research, Drug Discovery & Development, Others. The drug discovery and development segment is expected to dominate during the forecast period on account of increasing demand for novel therapeutic drugs for the treatment of different kind of diseases across the globe.
Major companies operating in global cell-based assays market are:
- Corning, Inc.
- Bio-Rad Laboratories, Inc.
- Thermo Fisher Scientific Inc.
- Danaher Corporation
- Lonza Group AG
- Promega Corporation
- F. Hoffmann-La Roche AG
- Merck KGaA
- Charles River Laboratories International, Inc.
- Menarini Silicon Biosystems, Inc.
For instance, in February 2020, Eurofins DiscoverX, the products company of Eurofins Discovery announced their partnership with VelaLabs of Vienna, Austria, in which Eurofins DiscoverX is granting the status of Bioassay Certified CRO to VelaLabs as a certified provider of PathHunter assay services.
In June 2020, PhenoVista Biosciences collaborated with Olympus to deliver 3D cell-based assay services for drug discovery.
For instance, in March 2022, Promega Corporation Collaborated with the FUJIFILM cellular dynamics to create novel assays to observe cellular biology in a system that better reflects how cells behave in the human body.
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“North America is expected to dominate in the Global Cell Based Assays market due to the increasing research and development activities in different research institutes collaboratively sponsored by academic grants and biopharmaceutical grants across the region. Similarly, the growing prevalence of lifestyle disorders such as arthritis, diabetes, epilepsy, cancer, cardiovascular diseases, and others is expected to drive the growth of the market during the forecast period. Also, growing demand for drug testing such as toxicity studies, drug screening, in vitro screening, in vitro testing and others are also a major factor fueling the growth of the market. Furthermore, increasing development of healthcare expenditure and growing favorable reimbursement policies for the different diseases treatment are further contributing to the demand for cell-based assays. Besides, increasing investment by government organizations for development of new cell-based assays in the region is further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Cell Based Assays Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Products & Services (Reagents, Assay Kits, Microplates, Probes & Labels, Cell Lines, Others), By Application (Clinical Research, Drug Discovery & Development, Others), By End User (Biotechnology & Pharmaceutical Companies, Academic & Research Institutions, Contract Research Organizations), By Region and Competition”, has evaluated the future growth potential of global cell-based assays market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global cell-based assays market.
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