Cell-based assays involve studying the behavior or response of live cells in response to external stimuli. They are widely being used in drug discovery and development for testing compounds efficacy as well as toxicity. Researchers use cell-based assays to identify cellular targets of new or existing drugs, and investigate disease pathology at the cellular level. The growing pharmaceutical pipeline and rising demand for personalized medicines have significantly increased drug discovery and development activities globally in recent years. This in turn is estimated to drive the demand for cell-based assays.
The global cell-based assay market is estimated to be valued at US$ 1389.5 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing drug discovery and development activities is a major driver estimated to boost the growth of cell-based assay market over the forecast period. As mentioned above, growing pharmaceutical pipeline and demand for personalized medicines have significantly increased R&D spending on drug development globally. Cell-based assays play a critical role in drug discovery process by providing insights into compound efficacy and toxicity at the cellular level. This is expected to generate significant demand for various cell-based assay products and services.
Another key driver of the market is the rising adoption of cell-based assays for toxicity testing. Stringent regulatory guidelines mandating drug safety evaluation prior to clinical trials have increased the demand for cell-based toxicity screening assays. These assays help identify potential toxic effects of compounds early on in development and prevent late stage failure. This is estimated to fuel the adoption of cell-based assays by pharmaceutical and biotech companies.
SWOT Analysis
Strength: The cell-based assay market offers various advantages over other traditional methods of drug discovery. Cell-based assays are highly sensitive and specific. They provide physiologically relevant information about potential drug candidates. Cell-based assays also allow high-throughput screening of huge chemical libraries in a cost-effective manner.
Weakness: Cell-based assays require live biological systems and are complex to develop and optimize. They have issues related to variability, poor reproducibility, and inability to decipher the exact mechanisms of compound activity. Maintaining cell viability and functional responses over extended screening also poses challenges.
Opportunity: Growing R&D investments in pharmaceutical and biotechnology industries and increasing outsourcing of drug discovery activities are fueling demand for cell-based assays. Rising incidence of chronic diseases is also boosting their utility in developing targeted therapies. Technological advancements are further enhancing assay automation, miniaturization, and multiplexing abilities.
Threats: High capital requirements for setting up cell-based assay infrastructure pose entry barriers. Stringent regulatory norms also increase compliance burden. Dependency on live cells as test systems increases variability risks. Alternatives like in silico modeling also pose competitive threats.
Key Takeaways
The global cell-based assay market is expected to witness high growth over the forecast period of 2023 to 2030. The market size is projected to increase from US$ 1389.5 Mn in 2023 to US$ 2072.2 Mn by 2030, registering a CAGR of 5.7%.
Regional analysis - North America currently dominates the market and is expected to retain its leading position over the forecast years. This can be attributed to extensive R&D activities in pharmaceutical and biotechnology industries and presence of major players in the region. Asia Pacific is poised to witness fastest growth owing to rising biomedical research expenditures and growing outsourcing trends from Western companies.
Key players - Key players operating in the cell-based assay market are DiscoverX Corporation, Becton, Dickinson and Company, cell Signaling Technology, Inc., Becton, Danaher Corporation, Thermo Fisher Scientific, Inc., Cisbio Bioassays, Merck & Co., and PerkinElmer, Inc. and others. These players are focusing on new product launches, collaborations and expansions to strengthen their market position.
The cell-based assays market is projected to reach USD 18.9 billion by 2024 from USD 13.9 billion in 2019, at a CAGR of 6.3%.Consumables dominated the cell-based assays market in 2019 By product, the cell-based assays market is segmented into consumables, instruments, and services.
In 2019, the consumables segment accounted for the largest share of the market.
The large share of this product segment can be attributed to the increasing volume of R studies in pharmaceutical and biotechnology companies resulting in high demand for consumables.Download a PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=119917269 Drug Discovery held the largest share of the applications market in 2019 Based on applications, the cell-based assays market is segmented into drug discovery, basic research, and other applications such as quality checks among others.
In 2019, the drug discovery segment accounted for the largest share of the cell-based assays market.
The large share of this segment can be attributed to the increasing R investments and technological advancements in supportive processes such as high throughput screening and 3D cell cultures.North America commanded the largest share of the cell-based assay market in 2019North America commanded the largest share in the cell-based assay market.
The large share of North America in this market can be attributed to the increasing R activities by biopharma companies and increasing presence of these companies in the US is expected to increase the demand for cell-based assays product and services in this region.Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=119917269Leading CompaniesThermo Fisher Scientific, Inc. (US), Danaher Corporation (Beckman Coulter, Inc.) (US), Becton, Dickinson and Company (US), GE Healthcare (US), Merck KGaA (Germany), Lonza Group (Switzerland), PerkinElmer, Inc. (US), Charles River Laboratories, Inc. (US), Cell Signaling Technologies (US), Cisbio (US), Cell Biolabs, Inc. (US), and Promega Corporation (US).
The global cell-based assay market was valued at $3,625 million in 2016, and is projected to reach $10,618 million by 2023, growing at a CAGR of 16.5% from 2017 to 2023.
The consumables product segment accounted for nearly three-fifths share of the market in 2016.Cell-based assays are procedures that are widely used in drug discovery and high-throughput screening of compounds due to the advantages of predictability, possibility of automation, multiplexing, and miniaturization.
They are highly beneficial for use in early stages of the drug discovery processes.Download Free Report Sample @ https://www.alliedmarketresearch.com/request-sample/4425The major factors that drive the global cell-based assay market are rise in technological advancements in cell-based assays, growth in availability of funds & investment for research, and increase in drug discovery programs globally.
In addition, adoption of high-throughput screening for drug discovery enhances the demand for cell-based assay, thereby providing lucrative opportunities for market growth.
However, accuracy & standardization concerns and costs associated with cell-based assays restrain the market growth.The consumables product segment occupies the highest share, owing to their sheer usage and need throughout the pre-requisite steps of cell-based assay methodologies.
The drug discovery application segment is anticipated to dominate the global cell-based assay market, and it accounted for over one-third of the total share in 2016.At present, the pharmaceutical companies segment dominates the end-user segment and is expected to grow at a CAGR of 14.6% from 2017-2023.
