The cell-based assay market was valued at USD 14.7 Billion in 2017 and is expected to reach at USD 31.93 Billion by 2025 growing at a Compound Annual Growth Rate (CAGR) of 9% from 2018 to 2025. The rising incidence of chronic diseases coupled with high demand for throughput screening and drug discovery are the factors expected to drive the global cell-based assay market during the forecast period. Increasing investment towards developing new drugs and research programs from biotechnology companies are further estimated to create new necessities and augment the market of growth over the forecast period of 2018-2025.
The cell-based assay market has been segmented based on product type which is further divided into assay kits, instruments, reagents, software and services. Based on application the market has been segmented as toxicology, ADME studies and drugs discovery. Furthermore, the market is segmented as end-user which is further sub-segmented as research institutes, pharmaceutical and biotechnology companies and Contract Research Organizations. Pharmaceutical and biotechnology companies are continuously increasing their investment towards R&Ds for bringing out new innovations to fight against life-threatening diseases such as cancer, cardiovascular diseases, epilepsy and others. This factor is expected to surge the demand for the market. in addition, government grants and high competitions among the pharmaceutical and biotechnology companies to develop innovative solutions and drugs discovery are further expected to be the major reason responsible for the pharmaceutical and biotechnology companies segment to propel at a significant growth rate as compares other end-users.
The global cell-based assay market has been geographically segmented into Asia-Pacific, Europe, North America, Latin America, the Middle East and Africa region. In addition to this, North America region holds the largest market share. The reason may be attributed to the presence of technologically upgraded research institutes and established pharmaceutical companies, where the applications of the cell-based assay are the most, as compared to other regions. Furthermore, high government initiatives and increased public spending towards the healthcare sector to reduce mortality rates from cancer are further estimated to be the prime factor responsible for North America to dominate the global market. The presence of established manufacturers of cell-based assays and their continuous efforts towards bringing the latest innovations is further expected to drive the industry in this region. In addition, Asia-Pacific region is expected to at the fastest CAGR owing to the rising investments by the key market players of North America and Europe region across the developing nations of Asia Pacific region such as China, Japan, South Korea, and India. Fast-growing economies in the Asia-Pacific region and the rising awareness regarding the applications of the cell-based assay is further expected to drive the Asia-Pacific cell-based assay market.
Some of the key players in the global Cell-Based assay market include Cell Biolabs, Inc., Dickinson and Company, Enzo Life Sciences, Inc., Essen BioScience Inc., Lonza Group, MDB Biosciences, Merck KGaA, PerkinElmer Inc., Selexis SA and Thermo Fisher Scientific