May 06, 2020
According to the research report titled ‘Global Cell-based Assay Market Size study, by Product (Consumables, Instruments, Services), by Application (Drug Discovery, Basic Research, Other Applications), by End-User (Pharmaceutical & Biotechnological Companies, Academic & Government Institutes, Contract Research Organizations) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global cell-based assay market share was valued at USD 12.97 billion in 2018 and is expected to grow with a CAGR of 7.2% during 2019-2026.
For the record, cell-based assay is a technique of cell analysis on the basis of various parameters such as changes in morphology, motility, proliferation, production of markers and toxicity among others. It helps in stem cell research as well as in cancer and immunology research. Cell-based assays are ideal for miniaturization since they depend on reporter gene assays which have better sensitivity.
Increasing application of cell-based assay in high-throughput screening formats coupled with rising drug discovery activities are major factors driving the market growth. The market is expected to further expand owing to escalating investments in R&D activities, rising adoption of biological drugs and growing demand for toxicity screening in drugs. According to India Brand Equity Foundation, the Indian government is reportedly preparing to invest up to USD 640 billion for improving drug discovery activities as well as enhancing pharmaceutical infrastructure. However, factors such as lack of skilled personnel and high cost of equipment may act as a restraining factor to the growth of the cell-based assay industry.
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Based on product landscape, the market is split into services, instruments and consumables. Whereas, in terms of application spectrum, cell-based assay market is bifurcated into basic research, drug discovery and others. Speaking of end-user scope, the industry landscape is classified into contact research organizations, academic & government institutes, and pharmaceutical & biotechnological companies.
Geographically, North America accounts for a considerable share in worldwide cell-based assay industry, primarily due to increasing focus and investments towards cancer research, high concentration of biotechnology & pharmaceutical companies and surging utilization of cell-based assays platforms.
Meanwhile, APAC cell-based assay market is predicted to witness lucrative growth in the subsequent years. Increasing assay applications, surging investments in healthcare sector and rising prevalence of cancer are stimulating the industry outlook in Asia-Pacific.
The major contenders in global cell-based assay market are Promega Corp., Cell Signaling Technology Inc., Charles River Laboratories Inc., PerkinElmer Inc., Lonza Group Ltd., Merck KGaA, GE Healthcare, Becton, Dickinson & Co., Danaher Corp. and Thermo Fisher Scientific Inc.