Global Cell-Based Assays Market to Witness Moderate Growth During the Forecast Period 2015-22

The global cell-based assays market covers cell-based reagents and kits used in drug discovery activities, clinical trials process, and diagnosis of different chronic diseases. This market is expected to reach USD 19.92 billion by 2022 from USD 13.34 billion in 2017, at a CAGR of 8.4% during the forecast period.

Globally, the cell-based assays market is witnessing growth due to factors such as increasing incidences of chronic diseases such as cancer and diabetes, growing preference for cell-based assays over other traditional methods, and increasing drug discovery activities by pharmaceutical and biotechnology companies. On the other hand, the high cost of instruments and restrictions on reagents used are expected to restrain market growth to a certain extent.

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Based on products, the cell-based assays market is segmented into consumables, instruments, service and software. The consumables segment is further subsegmented into reagents, assays kits, microplates, cell lines, probes and labels and other consumables. The consumables segment is expected to dominate the global cell-based assays market throughout the forecast period. Increasing R&D activities by the pharmaceutical and biotechnology industries is expected to drive this market segment.

Cell-based assays have been segmented by application, into drug discovery, basic research, ADME studies, predictive toxicology, and other applications. The drug discovery segment is expected to achieve the highest growth rate during the forecast period. The heavy burden of chronic disorders at a global level, which is increasing due to factors like increase growth in geriatric population, is fueling the growth of this market segment.

By end user, the cell-based assays market is segmented into pharmaceutical and biotechnological companies, academic & government institutions, contract research organizations and other end users. The pharmaceutical and biotechnology companies segment accounted for the largest share of the market and is also projected to grow at the highest rate. Technological advancements and increasing usage of cell-based assays by these end users, especially in developed countries across North America and Europe, are the major drivers for market growth in this end-user segment.

The cell-based assays market is classified based on regions into North America, Europe, Asia-Pacific and Rest of the world (RoW). Asia-Pacific is expected to have the fastest growth rate due to rising investment in healthcare, an increase in healthcare expenditure and disposable income, and an increase in healthcare insurance coverage.

Given the popularity of cell-based assays in the sphere of drug discovery and its use in pharmaceutical & biotechnology companies and CROs, the market offers leaders and emerging players plenty of opportunities to increase their revenues and to expand their reach to emerging economies.