The Global Market for Cell-based Assays is Projected to Reach US$28.3 Billion by the Year 2024

Robust Drug Development Activity & Technological Innovations to Drive the Global Cell-based Assays Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Cell-based Assays market. The global market for Cell-based Assays is projected to reach US$28.3 billion by the year 2024, driven by increasing research on new drugs; rising number of drug targets being screened through genomics and proteomics applications; and technological innovations.

Cell-based assays play an important role in the different drug discovery approaches taken up by pharma organizations. New drugs are being researched in the areas of cancer, cardiac disease, autoimmune disorders, rare diseases, as well as hepatitis C. Cell-based assays represent a leading drug discovery methodology for novel drug candidates, providing valuable insights on drug activity as well as in evaluating this activity over a period of time. Growth would also be driven by growing need for drug development companies to expand their drug portfolios. Increasing number of drug targets being screened through genomics and proteomics applications is driving enhanced use of cell-based assays. Growing interest in cell-based assays is also being driven by the need for automation as well as advances in cell-based systems, through technological innovations. Automation, the use of microfluidics systems, an increasing use in toxicity testing, and the development of label-free cell-based assays are some of the notable trends in the market for cell-based assays.

Drug discovery accounts for a major share of the cell-based assays market. With rapid advances in cell biology, OMIC technologies (proteomics and genomics), and bioinformatics, there has been a rise in the number of lead compounds. Consequently, the number of drug discovery studies has also spiked, necessitating the use of cell-based assays. Further, the demand for cell-based assays in the field of drug discovery for lead profiling and validating drug targets is also expected to remain buoyant in the years ahead, given the increased focus of pharmaceutical industry to augment drug portfolios and reduce compound attrition in the late stages. Cell-based High Throughput Screening (HTS) has already established its proficiency in early-stage drug discovery programs, and about 55-60% of assays for target validation in drug discovery are based on cell-based HTS model. While a major proportion of research activities are centered on drug discovery, cell-based assays are also likely to find application in other fields such as toxicology studies, diagnostics, molecular biology, genetics, biochemistry, and neuroscience among others.

As stated by the new market research report on Cell-based Assays, the United States represents the single largest market worldwide, followed by Europe, backed by well-established healthcare and life sciences sectors, public and private sector investments, and increased investments in drug discovery.  However, developing regions, including Asia-Pacific, Latin America, and the Middle East & Africa, have emerged as the fastest growing regional markets for cell-based assays.  Growing governmental and private spending on pharma R&D, technological advancements, and growing awareness related to assays for the purpose of drug discovery are the factors driving growth in the regions.

Key players in the market include BD Biosciences, BioVision Inc., Cisbio Bioassays, Eurofins DiscoveRx Corporation, Merck KgaA, Enzo Life Sciences Inc., Evotec AG, GE Healthcare Life Sciences, New England Biolabs Inc., PerkinElmer Inc., Promega Corporation, ProQinase GmbH, Qiagen NV, Thermo Fisher Scientific Inc., and Xenometrix AG, among others.

The research report titled “Cell-based Assays: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers and acquisitions, and other strategic industry activities. The report provides market estimates and projections in dollars for all major geographic markets, such as the United States, Japan, Europe (France, Germany, Italy, UK, Spain, and Rest of Europe), and Rest of World. Application markets analyzed include Basic Research, ADME Testing, and Drug Discovery.

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