Rising prevalence of chronic diseases, increasing number of pharmaceutical and biopharmaceutical companies globally, and technological developments in cell-based assays are some key factors fueling growth of the global cell-based assays market
The global cell-based assays market size is expected to reach USD 28.2 Billion by 2028 and register a CAGR of 8.5% over the forecast period, according to the latest report by Reports and Data. Some key factors such as growing funding by public and private sectors and increasing utilization of cell-based assays in drug discovery are driving global market revenue growth.
Cell-based assay is a technique used for analyzing living cells based on various parameters and also aids in measuring cell toxicity, motility, proliferation in diagnostics and drug discovery. High demand for cell-based assays in drug discovery and development is rapidly escalating revenue growth. Moreover, technological developments in cell-based assays, and rising adoption of 3D-based cell assays, and increasing need for developing biologically relevant substitutes for drug discovery are some significant factors boosting market growth.
Overall high cost of assays due to high maintenance and instrument costs, lack of skilled professionals, and stringent regulations on reagent usage are some key factors expected to hamper growth of the cell-based assays market to some extent throughout the forecast period.
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Some key highlights from the report:
- Based on product and services, the consumables segment is expected to account for robust revenue contribution between 2021 and 2028 owing to factors such as high demand for consumables in pharmaceutical sector and increasing of R&D activities on drug discovery.
- On basis of end-use, the pharmaceutical and biopharmaceutical companies segment dominated other end-user segments in 2020 and is expected to account for significant revenue growth over the forecast period. Increasing competition among well-established healthcare companies and increasing collaborations among these for developing novel and enhanced drugs are some key factors surging revenue growth of this segment.
- Asia Pacific market revenue is projected to expand at the fastest CAGR of 11.6% over the forecast period. Increasing number of pharmaceutical companies globally and rising investments in research development in life sciences and drug developmental activities are some key factors supporting market growth in the region.
- North America is expected to dominate other regional markets in terms of revenue share during the forecast period due to presence of major manufacturing companies, rapid growth in drug development and research along with substantial funding from government and private organizations, and high implementation of advanced techniques in countries in the 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, PerkinElmer acquired Cisbio Bioassays, which is one of the leading life science companies that manufactures high-quality kits and reagents. This acquisition is expected to widen PerkinElmer’s 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-use, and region:
Based On Product And Service (Revenue, USD Billion, 2018 – 2028)
- 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
- Probes & Labels
- Other Consumables
- Instruments & Software
Based On Application: (Revenue, USD Billion, 2018 – 2028)
- Drug Discovery
- Toxicity Studies
- Pharmacodynamics Studies
- Pharmacokinetic Studies
- Basic Research
- Other Applications
Based On End Use: (Revenue, USD Billion, 2018 – 2028)
- Pharmaceutical & Biopharmaceutical Companies
- Academic & Research Institutes
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Based On Region: (Revenue, USD Billion, 2018 – 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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