Chicago, Jan. 25, 2023 (GLOBE NEWSWIRE) -- According to the new market research report "Cell-based Assays Market by Product & Service (Reagents, Microplate, Cell Lines, Assay Kits, Instrument & Software, Services), Application (Drug Discovery, Research), End User (CROs, Pharmaceutical Companies, Research Institutes) - Global Forecast to 2025", The cell-based assays market is projected to reach USD 22.0 billion by 2025, growing at a CAGR of 8.1% during the forecast period.
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235 - Tables
35 - Figures
239 - Pages
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Scope of the Report:
USD 22.0 billion by 2025
Value (USD Billion)
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Product and Service, Application, End User and Region
North America, Europe, Asia Pacific, Latin America and Middle East & Africa
Key Companies Profiled/Vendors
The major market players include as 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), AAT Bioquest (US) among others.
Key Market Opportunities
Key Market Drivers
Growing preference for cell-based assays in drug discovery
The growing preference for cell-based assays in drug discovery, increasing funding for cell-based research, and growth in the number of drug discovery activities are the key factors supporting the growth of the market. However, the growth of the market is likely to be restrained by factors such as the high cost of instruments, restrictions on reagent use, and the lack of infrastructure for cell-based research in emerging economies.
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Cell-based assays market is categorized into major three categories consumables, instruments & software, and services. Consumables dominated the market in 2019. The large share of this segment can be attributed to the extensive use and repeated purchase of consumables by pharmaceutical and biopharmaceutical companies and the rising number of preliminary studies for the development of therapeutics. Services are expected to register the highest CAGR during the forecast period due to the increasing number of pharmaceutical and biotechnology companies outsourcing R&D activities and the cost-effectiveness of outsourcing drug discovery activities.
On the basis of application, the cell-based assays market is categorized into drug discovery, basic research, and other applications such as quality control, phytochemical screening, and antibacterial screening. The drug discovery application segment dominated the market in 2019. This segment is also projected to witness the highest growth during the forecast period. The growth of this segment is attributed to the increasing R&D investments, technological innovations in supportive processes, the introduction of new drugs, and the growing number of CROs providing drug discovery service.
Based on end users, the cell-based assays market is segmented into pharmaceutical & biopharmaceutical companies, academic & research institutes, and contract research organizations. The contract research organizations (CROs) segment is expected to grow at the highest rate during the forecast period owing to the increasing preference for drug discovery outsourcing by pharmaceutical & biopharmaceutical companies and the cost-effectiveness of the services.
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Geographical Growth Scenario:
The Asia Pacific market is expected to witness the highest growth during the forecast period, primarily due to government initiatives to increase funding in biopharmaceuticals, growing R&D spending, and partnerships for life science research, among other factors.
Some of the prominent players in the cell-based assays market are Thermo Fisher Scientific, Inc. (US), Danaher Corporation (Beckman Coulter, Inc.) (US), Becton, Dickinson and Company (US), GE Healthcare (US), Merck KGaA (Germany), Lonza Group (Switzerland), PerkinElmer, Inc. (US), Charles River Laboratories, Inc. (US), Cell Signaling Technologies (US), Cisbio (US), Cell Biolabs, Inc. (US), and Promega Corporation (US).
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