Global Cell-based Assays Market to Grow at a CAGR of 14% During 2024-2032, Aided by the Increasing Development of Novel Therapies and Effective Drugs Worldwide

The global market for cell-based assays is being driven by the rising incidences of chronic illnesses worldwide. The growing need of more predictive cellular models for the discovery of effective drugs is expected to bolster the demand for cell-based assays in the pharmaceutical sector. In addition, the growing investments by the governments to improve the healthcare infrastructure and the increasing biomedical research are expected to further propel the market growth in the forecast period. The cell-based assays deliver biologically relevant information to predict the reaction of a drug on an organism by evaluating the effects of a compound on cell viability, cell proliferation, or cytotoxicity. The importance of cell-based assays in the drug development process and the utilisation of several technologies like genome-editing tools to enable easy engineering of mutations and simulate natural biological environments are likely to aid the market growth over the forecast period.

The leading market players are making significant efforts to provide improved cell analysis solutions to support life science research and drug discovery, development, and manufacturing. This is leading to increased mergers and acquisitions, helping the companies expand their existing capabilities and widen their reach. For instance, in May 2021, PerkinElmer, Inc. (NYSE: PKI) announced the acquisition of Nexcelom Bioscience, a global leader in automated cell counting instruments and a range of cell reagents, consumables, and fit-for-purpose cell counting methods, to further bolster the company’s preclinical portfolio and advance its QA/QC capabilities. Similarly, in October 2021, another leading vendor of cell-based assays, Abcam (NASDAQ: ABCM), announced the successful acquisition of BioVision, a leading vendor of life science research tools and biochemical and cell-based assay kits, for the expansion of its immunoassay capacity. Such developments are expected to positively impact the market growth of cell-based assays in the forecast period.

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Market Breakup by Products and Services, Application, End Use, and Region:

• The market is divided, based on products and services, into consumables, instruments, software, and services. Among these, the consumables segment can be distributed by type into reagents, microplates, probes and labels, assay kits, cell lines, and others.

• On the basis of application, the market can be distributed into drug discovery, ADME studies, basic research, predictive technology, and others.

• The market is segmented, on the basis of end use, into pharmaceutical and biotechnology companies, academic and government research institutes, contract research organisations (CROs), and others.

• Region-wise, the global market for cell-based assays can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for cell-based assays is being driven by the rising incidences of chronic diseases across the globe, such as cancer and cardiovascular diseases, and the development of novel therapies, and drugs and medications. 

• The rising government investments in the healthcare sector for the development of medical infrastructure have significantly contributed to the market expansion. 

• The growing importance of cell-based assays in drug discovery applications and the use of advanced technologies are also aiding the market growth. 

• The increasing research and development activities by pharmaceutical and biotechnology companies and the growing cross-industry collaborations are expected to further propel the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for cell-based assays for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the products and services, applications, end uses, and major regions of cell-based assays.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global cell-based assays market are Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Lonza Group Ltd., PerkinElmer, Inc., Promega Corporation, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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