Global Cell-Based Assay Market is Expected to Reach US$ 23 Billion by 2024 – IMARC Group

May 31 22:57 2019
Global Cell-Based Assay Market is Expected to Reach US$ 23 Billion by 2024 – IMARC Group

Global Cell-Based Assay Market to Reach US$ 23 Billion by 2024, Spurred by Rising Prevalence of Chronic Diseases
Over the past few years, the global cell-based assay market has witnessed strong growth. This can be accredited to the rising incidence rates of chronic diseases, the emergence of new technologies and increasing R&D activities to formulate safer drugs.

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.

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. 

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:

Market Breakup by Product and Services

1. Consumables
2. Instruments
3. Services
4. Software

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.

Get a PDF Brochure for more detailed market insights: https://www.imarcgroup.com/cell-based-assays-market/requestsample

Market Breakup by Technology

1. Automated Handling
2. Flow Cytometry
3. Label-Free Detection
4. High-Throughput Screening
5. Others

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.

Market Breakup by Application

1. Drug Discovery
2. Basic Research
3. ADME Studies
4. Predictive Toxicology
5. 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.

Market Breakup by End-User

1. Pharmaceutical and Biotechnology Companies
2. Academic and Government Institutions
3. Contract Research Organizations
4. 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.

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/cell-based-assays-market

Market Breakup by Region

1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. Latin America

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.

Competitive Landscape

 

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.

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