Cell-based Assay Market To See Record Break Revenue $10.61 Billion By 2023, At CAGR Of 16.5% | Biotechnology Companies, Metabolism, Assay

Cell-based assays are procedures that are widely used in drug discovery and high-throughput screening of compounds due to the advantages of predictability, possibility of automation, multiplexing, and miniaturization. They are highly beneficial for use in early stages of the drug discovery processes.

Pharmaceutical companies have streamlined drug discovery and development through adoption of cell-based screening assays. Application of this screening has facilitated utilization of live cells in high-content screening assays as an attractive option in the drug discovery process.

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The global cell-based assay market was valued at $3,625 million in 2016, and is projected to reach $10,618 million by 2023, growing at a CAGR of 16.5% from 2017 to 2023. The consumables product segment accounted for nearly three-fifths share of the market in 2016.

COVID-19 scenario-

1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.

2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.

3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.

The major factors that drive the global cell-based assay market are rise in technological advancements in cell-based assays, growth in availability of funds & investment for research, and increase in drug discovery programs globally.

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In addition, adoption of high-throughput screening for drug discovery enhances the demand for cell-based assay, thereby providing lucrative opportunities for market growth. However, accuracy & standardization concerns and costs associated with cell-based assays restrain the market growth.

The consumables product segment occupies the highest share, owing to their sheer usage and need throughout the pre-requisite steps of cell-based assay methodologies. The drug discovery application segment is anticipated to dominate the global cell-based assay market, and it accounted for over one-third of the total share in 2016.

At present, the pharmaceutical companies segment dominates the end-user segment and is expected to grow at a CAGR of 14.6% from 2017-2023. Cell-based assay possesses the potential to recognize a broad spectrum of compounds and supplement the generation of potent biomarkers in medicine.

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The Major Key Players Are:

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.

The Other Key Players Are:

Macrogen, Inc., New England Biolabs, Inc., Cisbio Bioassays, Cell Biolabs, Inc., and DiscoverX Corporation.

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