Cell-based Assay Market Value Set to reacg $10.61 Billion by 2023 with a CAGR of 16.5%

According to the report, the global cell-based assay market garnered $3,625 million in 2016 and is projected to accrue a sum of $10,618 million by 2023, growing at a CAGR of 16.5% from 2017 to 2023.

Allied Market Research published a report, titled, “Cell-based Assay Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023.” The report offers information on the drivers, restraints, & opportunities, top investment pockets, market segments, market size & share, and the competitive landscape. These insights are helpful for market players, investors, stakeholders, and new entrants to gain major market share and international presence.

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The report elaborately analyzes the drivers, restraints, and opportunities of the cell-based assay market. Factors such as technological advancements in cell-based assays methodologies, surge in cell-based applications in drug discovery, adoption of high-throughput screening methods, and increase in R&D investment drive the growth of the market. However, high cost of the assays and dearth of skilled professionals hinder the growth of the market. Conversely, high adoption of label-free cell-based assays and untapped potential in developing countries offer significant growth opportunities to the market players.

The report presents a detailed analysis of the segments of the market. The market is classified into product, application, end user, and geography. Based on product, the study is bifurcated into consumable, instrument, service, and software. The consumables segment captures the highest market share due to their sheer usage and need throughout the pre-requisite steps of cell-based assay methodologies. Based on application, the market is divided into drug discovery; basic research; absorption, distribution, metabolism, & excretion (ADME) studies; predictive toxicology; and others. The drug discovery segment is likely to lead the cell-based assay market in terms of revenue through the forecast period, and it grabbed more than one-third of the total share in 2016. The end user segment is bifurcated into pharmaceutical & biotechnology companies, academic & government research institutes, contract research organizations, and others. The pharmaceutical companies segment dominates the end-user segment. It is likely to grow at a CAGR of 14.6% from 2017 to 2023. Regionally, the market analysis covers North America, Europe, Asia-Pacific, and LAMEA.

A broad analysis of the players operating in the market is also offered in the study. Details such as their overview, their business segments under operation, key strategic moves and developments, and more are explained. The companies profiled in the report include Becton, Dickinson and Company, Danaher Corporation, Thermo Fisher Scientific, Inc., General Electric Company, Merck KGaA, Perkinelmer, Inc., Bio-Rad Laboratories, Inc., Lonza Group Ltd., Cell Signaling Technology, Inc., and Promega Corporation.

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