Dublin, April 01, 2021 (GLOBE NEWSWIRE) -- The "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" report has been added to ResearchAndMarkets.com's offering.
The cell-based assays market is projected to reach USD 22.0 billion by 2025 from USD 14.9 billion in 2020, at a CAGR of 8.1% during the forecast period.
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. In this report, the cell-based assays market has been segmented based on product and service, application, end-user, and region.
By product and service, the consumables segment accounted for the largest share of the cell-based assays market.
The cell-based assays market is categorized into major three product and service categories, consumables, instrument & 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.
Asia Pacific: The fastest-growing region in the cell-based assays market.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to the government initiatives to increase funding in biopharmaceuticals, growing R&D spending, and partnerships for life science research.
North America: the largest share of the cell-based assays market.
North America accounted for the largest share of the cell-based assays market. Factors such as the availability of government and private funding for life science research, the growing penetration of CROs, comprehensive drug development regulations, and the rapid adoption of advanced technologies in the region are the major factors driving the market growth.
In 2019, Danaher Corporation (US), Thermo Fisher Scientific (US), Merck KGaA (Germany) dominated the market. Other prominent players in this market include PerkinElmer, Inc. (US), Promega Corporation (US), Charles River Laboratories (US), Lonza (Switzerland), BioAgilytix Labs (US), Reaction Biology Corporation (US), AAT Bioquest (US) among others.
Premium Insights
- Rising Drug Discovery Activity is Driving the Demand for Cell-Based Assays
- Consumables Commanded the Largest Share of the North American Cell-Based Assays Market in 2019
- Drug Discovery Commanded the Largest Share of the Cell-Based Assays Market in 2019
- China is the Fastest-Growing Market for Cell-Based Assays
Market Dynamics
Drivers
- Growing Preference for Cell-Based Assays in Drug Discovery
- Increasing Funding for Cell-Based Research
- Growth in the Number of Drug Discovery Activities
Restraints
- High Cost of Instruments and Restrictions on Reagent Use
- Lack of Infrastructure for Cell-Based Research in Emerging Economies
Opportunities
- Emerging Economies
- Growing Risk of Pandemics and Communicable Diseases
- Application of Novel Cell-Based Assays in Cancer Research
Impact of COVID-19 on the Cell-Based Assays Market
Company Profiles
- AAT Bioquest, Inc.
- Becton, Dickinson and Company
- Bioagilytix Labs Inc.
- BPS Bioscience
- Ca3 Biosciences Inc. (Neuromics)
- Carna Biosciences, Inc.
- Cell Biolabs
- Cell Signaling Technology
- Charles River Laboratories
- Danaher Corporation
- Enzo Biochem
- Eurofins Scientific Se
- Invivogen
- Lonza Group
- Merck KGaA
- Pbl Assay Science
- Perkinelmer
- Promega Corporation
- Reaction Biology Corporation
- Thermo Fisher Scientific
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