Portland, OR, March 22, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Cell-Based Assay Market generated $11.74 billion in 2020, and is expected to generate $26.34 billion by 2030, witnessing a CAGR of 8.2% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
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Increase in demand for cell-based assays in drug discovery, huge investments in cell-based research, and rise in the number of drug discovery companies drive the growth of the global cell-based assay market. However, high costs of tests and scarcity of competent professionals restrain the market growth. On the other hand, increase in the usage of cell-based assay techniques for high throughput screening methods such as toxicity studies, drug screening, in-vitro testing, and others creates new opportunities in the coming years.
Covid-19 Scenario:
- The allocation of funding and demand for cell-based test products increased during the Covid-19 pandemic for initiatives such as viral infection research, vaccine development, and overall drug discovery.
- Market players have been modifying their long- and short-term strategies to tap on opportunities in the research by introducing innovative products to combat the pandemic.
- The demand for cell-based assays to offer an early indication of the Covid-19 symptoms increased. Thus, the market for cell-based assay impacted positively during the pandemic.
The report offers detailed segmentation of the global cell-based assay market based on product, application, end user, and region.
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| Market to Reach | $11.74 billion |
| Forecast Year | 2020-2030 |
| Growing CAGR | 8.2% |
| Base Year | 2020 |
| Report Key Pointer | COVID-19 Outbreak & Impact |
Based on product, the consumables segment held the highest share in 2020, accounting for more than half of the total share, and is expected to continue its leadership status during the forecast period. However, the services segment is expected to manifest the highest CAGR of 11.0% from 2021 to 2030.
Based on end user, the pharmaceutical & biotechnology companies segment contributed to the highest share in 2020, accounting for nearly half of the total share of the global cell-based assay market, and is projected to continue its lead position during the forecast period. However, the academic & government institutions segment is estimated to witness the fastest CAGR of 10.1% from 2021 to 2030.
Based on region, North America held the highest share in 2020, accounting for more than two-fifths of the total market share, and is expected to continue its dominance in terms of revenue by 2030. However, Asia-Pacific is estimated to portray the largest CAGR of 10.6% during the forecast period.
Leading players of the global cell-based assay market analyzed in the research include Becton, Dickinson and Company, Thermo Fisher Scientific, Inc., Danaher Corporation, Merck KGaA, General Electric Company, Bio-Rad Laboratories, Inc., Perkinelmer, Inc., Cell Signaling Technology, Inc., Lonza Group Ltd., and Promega Corporation.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
