Cell-based Assay Market Projected to Reach US$ 23 Billion by 2024

by Rahul Rastogi Market Research Analyst

According to the latest report by IMARC Group, titled “Cell-Based Assay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global cell-based assay market reached a value of US$ 14 Billion in 2018. The cell-based assay is an analytical method used to determine the concentration of a substance by observing its effects on living organisms (in vivo) or tissues (in vitro). Unlike biochemical assays, they study intact or fixed cells instead of quantifying cell lysate. They are widely utilized in sub-cellular localization, monitoring environmental pollutants and testing cytotoxicity. Apart from this, they are also employed to evaluate a vast array of biochemical, functional and biological effects including gene activation, cell signaling, cell proliferation, antibody-dependent cellular cytotoxicity (ADCC), complement-dependent cytotoxicity (CDC), apoptosis and necrosis.

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Market Trends:

The increasing incidence rates of chronic diseases like cancer, diabetes and cardiovascular diseases is driving the demand for cell-based assays. For instance, they are widely used for screening mutagenesis in chronic myeloid leukemia. Moreover, owing to technological advancements, they are now widely used for drug discovery and toxicology studies. The advent 3D cell-based assays is expected to create new growth opportunities for the market. Apart from this, manufacturers are continually engaging in research and development (R&D) activities to formulate safer drugs using this technique, thus further contributing to the market growth. On account of the aforementioned factors, the global cell-based assay market size is projected to reach US$ 23 Billion by 2024, exhibiting a CAGR of 8.6% during 2019-2024.

Market Summary:

·      On the basis of the product, the market has been divided into consumables, instruments, services and software. Amongst these, consumables represent the most preferred product type.

·      Based on the technology, automated handling accounts for the majority of the overall market share. Other major segments include flow cytometry, label-free-detection, high-throughput screening and others.

·      On the basis of the application, drug discovery exhibits a clear dominance in the market. Other major application segments include basic research, ADME studies and predictive toxicology and others.

·      On the basis of the end user, the market has been classified into pharmaceutical and biotechnology companies, academic and government institutions, contract research organizations, and others. Presently, pharmaceutical and biotechnology companies represent the largest end user.

·      On the geographical front, the market has been segregated into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Currently, North America holds the leading position in the market. 

·      The competitive landscape has also been analyzed in the report with some of the major players being Becton Dickinson, Danaher Corporation, Thermo Fisher Scientific Inc., General Electric Company, Merck KGaA, Perkinelmer, Inc., Charles River Laboratories, Inc., Lonza Group Ltd., Cell Signaling Technology, Inc., Promega Corporation, Cisbio Bioassays, Cell Biolabs, Inc., Bio-Rad Laboratories, Inc., Corning, Inc., and Hoffmann-La Roche Ltd.

 

Browse Full Report with TOC & List of Figure: https://www.imarcgroup.com/cell-based-assays-market

 

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Created on Oct 21st 2019 04:41. Viewed 354 times.

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