Dublin, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The "Europe Cell-based Assay Market: Analysis and Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
The Europe cell-based assay market is expected to reach $11.12 billion by 2032 from $5.17 billion in 2023, at a CAGR of 8.88% during the forecast period 2023-2032.
The Cell-based Assay Market is surging, driven by the pharmaceutical industry's escalating drug discovery efforts and the inherent advantages of these assays over traditional methods. Their ability to mimic human physiology, predict drug efficacy and toxicity early, and personalize medicine fuels demand. This trend is further amplified by rising chronic disease prevalence and supportive government initiatives, fostering a market poised for significant expansion. 
Market Dynamics
- Drivers
- Increase in Demand for Cell-based Assay in Drug Discovery and Development
- Rise in Life Sciences Research Investments
- Technological Advancements
- Restraints
- High Cost
- Lack of Standardization
- Opportunities
- Increased Focus on Regenerative Medicine
- Emergence of Novel Gene Editing Technologies
Market Introduction
The European cell-based assay market is experiencing a surge, fueled by a confluence of factors. The burgeoning pharmaceutical and biotechnology sectors, with their focus on efficient drug discovery and personalized medicine, are driving demand for these powerful tools. Cell-based assays offer a more human-relevant and cost-effective alternative to traditional animal models, allowing for rapid screening of drug candidates and a deeper understanding of their mechanisms of action.
This shift is further bolstered by rising investments in academic research and government initiatives promoting life sciences innovation. However, challenges such as high instrumentation costs and stringent regulatory frameworks necessitate strategic partnerships and technological advancements to unlock the full potential of this rapidly evolving market.
Market Segmentation
Segmentation 1: by Country
- U.K.
- France
- Italy
- Germany
- Spain
- Rest of Europe
Segmentation 2: by Company
- Merck KGaA
- Lonza Group AG
Key Attributes
| Report Attribute | Details |
| No. of Pages | 75 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $5.17 Billion |
| Forecasted Market Value (USD) by 2032 | $11.12 Billion |
| Compound Annual Growth Rate | 8.8% |
| Regions Covered | Europe |
For more information about this report visit https://www.researchandmarkets.com/r/kkidfe
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