Global Analysis and Forecasts for Cell-based Assays Market
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.
The global cell-based assays market boasts a total value of $14.9 billion in 2020 and is projected to register a growth rate of 8.1% to reach a value of $22.0 billion by 2025.
The increasing preference for cell-based assays, the increase in the number of drug discovery activities, and surging research funding are all driving this industry forward. However, reagent restrictions and high instrument costs are two main challenges limiting the market's growth.
Cell-based assays are key components in the drug development process. Cell-based assays have several advantages over in vitro biochemical assays. They offer consistent tissue-specific responses in a biologically relevant microenvironment as opposed to biochemical assays.
It is also not possible to prepare or purify every target for biochemical measurement, which is a major factor limiting the applications of biochemical assays. As a result, pharmaceutical & biotechnology companies as well as CROs are replacing biochemical assays with cell-based assays for their lead identification and optimization processes in drug discovery.
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North America accounted for the largest share of the cell based assays market
The cell-based assays market is segmented into North America, Europe, the Asia Pacific (APAC), Latin America (LATAM), and the Middle East and Africa (MEA). In 2019, North America accounted for the largest share of the global market, followed by Europe. This market is primarily driven by 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.
The prominent players operating in the cell-based assays market are Danaher Corporation (US), Thermo Fisher Scientific (US), Merck KGaA (Germany), Becton, Dickinson and Company (US).
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