Global Cell Based Assay Market Set to Hit USD 27.39 Bn By 2026

October 12th, 2021 Releases

Global Cell-Based Assay Market Size & CAGR (2021 to 2026)

As per the report published by MarketDataForecast, during the forecast period, the size of the global cell-based assay market is estimated to be growing at a CAGR of 11.31% and worth USD 27.39 billion by 2026 from USD 16.03 billion in 2021.

Impact of COVID-19 on the global cell-based assay market:

Companies have increased their R&D efforts to produce a vaccine and medications to combat the SARS-CoV-2 virus due to the epidemic. Vaccine-related research in pharmaceutical and biotechnological firms, research centers, and academic research institutes is critical, and operations and output have been largely unaffected. Both the availability of research funding and the demand for and manufacturing of cell-based test products are predicted to expand due to the increased research activities. Several Patients are being treated symptomatically because no COVID-19 vaccines or antiviral drugs have been authorized or developed. The functional efficiency of the antibodies produced to neutralize the target virus is assessed for both vaccinations and treatments. To reduce the time and boost the throughput of these experiments, cell-based assays are used. As a result, the demand for cell-based assays to provide an early indication of drug candidate toxicity has increased.

Browse details of the report @ https://www.marketdataforecast.com/market-reports/cell-based-assay-market

KEY DRIVING FACTORS:

An increase in R & D and Usage in drug discovery is expected to boost cell-based assays’ market growth during the forecast period.

In vitro, biochemical assays have various advantages over cell-based techniques. In contrast to biochemical experiments, they provide consistent tissue-specific responses in a physiologically relevant milieu. As a result, biochemical tests are being phased out of drug discovery lead identification and optimization procedures by pharmaceutical and biotechnology corporations and contract research organizations (CROs). Various public and corporate organizations have increased their R&D funding to discover better and safer pharmaceuticals. Furthermore, advances in cell-based assay technology have allowed researchers to use this method for drug discovery and toxicology research.

RESTRAINING FACTORS:

The high cost of instruments and strict restrictions are expected to hamper the market’s growth rate.

The reliability of cell-based assays has improved due to high screening (HTS) and high-content screening (HCS) technologies. These innovations, however, have led to a significant increase in instrument costs. Furthermore, the duration and expense of each HTS method are directly related to the complexity of the target molecule; hence, the higher the complexity, the higher the cost. The total cost of ownership of these instruments rises due to maintenance costs and other indirect expenses.

Avail free sample brochure of the report to evaluate the usefulness, ask a copy @ https://www.marketdataforecast.com/market-reports/cell-based-assay-market/request-sample

KEY MARKET INSIGHTS:

  • Based on the type of product, the market was dominated by reagents and consumables in 2020. The substantial share of this segment can be due to pharmaceutical and biopharmaceutical companies’ intensive use and recurrent purchases of consumables, as well as the growing number of exploratory investigations for therapeutic development.
  • Based on technology, the flow cytometry segment is predicted to lead the market as it is used in various academic settings for illness diagnosis and research, including HIV, hematologic malignancies, and cancer. In addition, the rising number of cancer and HIV patients and the increased usage of flow cytometry in hospitals and diagnostic centers have created an intense need for flow cytometry for accurate disease diagnosis and surveillance.
  • Based on Application, the drug discovery segment is expected to grow rapidly due to biopharmaceutical companies’ increased R&D spending. Furthermore, the rising prevalence of chronic diseases including cancer, osteoarthritis, cardiovascular disease, and diabetes is boosting demand for cell-based assays for innovative drug discoveries, making it a critical component in the market’s growth. In addition, functional cells are utilized as diagnostic instruments in research for new medications in cell-based assays, which aid in drug discovery.
  • Based on End-User, the Pharmaceutical & Biotechnology Companies segment is expected to grow at the fastest rate. The increasing demand for cell-based tests in pharmaceutical and biotechnology firms and their numerous benefits have contributed to the segment’s rise.
  • Based on the region, due to the well-established healthcare system and high acceptance of cell-based therapies, North America is the world’s top region in terms of market share. In addition, the prevalence of chronic diseases such as cancer, osteoarthritis, and diabetes is rising in the United States, which is boosting demand for cell-based assays for innovative drug discoveries, making it a critical component in the market’s growth.
  • General Electric Company, Merck KGaA, Perkinelmer, Inc., Bio-Rad Laboratories, Inc., Becton, Dickinson and Company, Danaher Corporation, Thermo Fisher Scientific, Inc., and Promega Corporation are the major players in the global cell-based assay market. Mergers and acquisitions, new product launches, expansions, agreements, joint ventures, and partnerships have all been employed by these influential organizations as organic and inorganic growth strategies.

The report can be customized as per requirements; talk to our analyst team @ https://www.marketdataforecast.com/market-reports/cell-based-assay-market/customization

RECENT MARKET DEVELOPMENTS:

  • Biognosys and Siemens Healthineers announced a deal in April 2021 to accelerate the research and development of diagnostic protein biomarkers and tests.
  • Labcorp announced in May 2021 that it had reached a definitive deal to purchase Myriad Genetics’ autoimmune business segment’s operating assets and intellectual property (IP), including the Vectra rheumatoid arthritis (RA) assay, for $150 million.
  • Phitonex, Inc. was acquired by Thermo Fisher Scientific (US) in 2020. (US). Thermo Fisher will offer more flow cytometry and image multiplexing capabilities in protein and cell analysis research due to the acquisition of spectral dye platform manufacturer Phitonex.
  • To extend its drug development capabilities, Charles River Laboratories entered into a multi-year drug discovery collaboration with Karuna Therapeutics, a US-based CRO, in 2020.

SEGMENTS COVERED IN THIS REPORT:

By Type Of Product:

  • Cell Lines
    • Primary Cell Lines
    • Stem Cell Lines
    • Immortalized Cell Lines
  • Assay Ready Kits
  • Cell Culture Kits
  • Reagents & Consumables
  • Ligands & Inhibitors

By Technology:

  • Automated Handling
  • Flow Cytometry
  • Label-Free Detection
  • High Content Screening

By Application:

  • Drug Discovery
  • ADME Research

By End Users:

  • Academia
  • Biotechnology
  • Pharmaceuticals
  • CRO

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

BROWSE REGIONAL REPORTS:

About MarketDataForecast:

Market Data Forecast is a firm working in market research, business intelligence, and consulting. We have rich research and consulting experience for various business domains to cater to individual and corporate clients’ needs.

Contact Us:

Market Data Forecast
Phone: +1-888-702-9626
Email: contact@marketdataforecast.com

© Medgadget, Inc. All rights reserved. | The Medical Revolution Will Be Blogged.