Cell-based Assay Market Scenario on Current Industry Size, Development Trend, Key Manufacturers Analysis and Forecasts 2024

The Cell-Based Assays Market is projected to reach US$ 18.9 Billion by 2024 from US$ 13.9 Billion in 2019, at a CAGR of 6.3% during the forecast period. Growth in this market is mainly driven by the increasing research funding, and the growth in the number of drug discovery activities. Emerging economies with growing R&D expenditures are also expected to provide opportunities for the growth of the market.

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By product & service, the cell-based assays market is segmented into consumables, instruments and services. Over the forecast period, the services segment accounted for the highest CAGR. The increased R&D investments and technological innovations in supportive processes such as high-throughput screening is driving the growth of this product & service segment.

“Basic research held the significant share in the cell-based assays market in 2019”

On the basis of application, the cell-based assays market is segmented into drug discovery, basic research and other research such as quality check 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 rising adoption of in vitro testing over animal testing and increasing in R&D spending by biopharmaceutical companies.

“Asia Pacific exhibited the highest CAGR over the forecast period”

North America, which includes the US and Canada, accounted for the largest share of the cell-based assays market. The large share of this market segment can be attributed to the increasing drug discovery activities by pharmaceutical and biotechnology companies. In addition to this, consolidations between academic and government institutes with biopharmaceutical companies in the region are also driving the growth of this market.

Breakdown of supply-side primary interviews, by company type, designation, and region:

• By Company Type: Tier 1 (20%), Tier 2 (45%), and Tier 3 (35%)
• By Designation: C-level (30%), Director-level (20%), and Others (50%)
• By Region: North America (35%), Europe (24%), Asia Pacific(25%), and RoW (16%)

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Report Highlights:

• To forecast the revenue of the market segments with respect to four main regional segments, namely, North America, Europe, Asia Pacific, and the Rest of the World (RoW)
• To define, describe, and forecast the cell-based assays market by product, application, end user, and region
• To identify the micromarkets with respect to drivers, industry-specific challenges, opportunities, and trends affecting the growth of the market
• To analyze market segments and subsegments with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To profile the key players and comprehensively analyze their market shares and core competencies in terms of market developments and growth strategies
• To track and analyze competitive developments such as partnerships, agreements, collaborations, acquisitions, product launches, and research and development activities in the cell-based assays market

Top Companies in the Cell-based Assay Market include are Thermo 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).

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