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Cell-based Assay Market Set for Rapid Growth and Trend, by 2026
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Cumulative growth in drug discovery is expected to boost cell-based assay market in forecast period
Rapid growth in drug discovery is expected to increase the demand for cell-based assay as it is mainly used in checking toxicity of drugs. For instance according to FDA’s Center for Drug Evaluation and Research (CDER) in 2016, CDER approves averagely 30 novel drugs per year and the development of novel drug discovery is expected to increase in future. Many companies are involved in the drug discovery needs cell-based assay for testing new drugs that is expected to boost the cell-based assay market in forecast period. Since pharmaceutical market have become a billion-dollar business, many pharmaceutical and biotechnological companies are adopting cell-based assay in order to reduce the chances of failure of batch which lead to a high loss to company.
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