Cell Viability Assays Market Size To Reach USD 6.35 Billion By 2028 Says Reports And Data

The global cell viability assays market size is expected to reach USD 6.35 Billion by 2028 at a CAGR of 8.7%, according to the latest report by Reports and Data. Growing healthcare burden of chronic diseases, rising focus on development of cell-based therapeutics, and recent technological advancements in pharmaceutical and biotechnology sectors are some key factors expected to drive market revenue growth over the forecast period. Rising need to develop better cures and more efficient drugs and therapeutic approaches has led to increased adoption of cell viability assays in drug discovery and development. This is expected to further drive market growth going ahead. In addition, increasing private and public funding for stem cell and cancer research is expected to contribute to support market growth during the forecast period.

Rising expenditure in healthcare sector and increasing research and development activities in the biopharmaceutical sector are factors expected to drive market growth. Cell viability assays are also imperative in quality control experiments in food and beverage, pharmaceuticals, biotechnology, and water treatment industries. This is expected to drive revenue growth of the market over the forecast period. However, high costs of equipment and more time taken by cell viability assays are expected to restrain market growth to a certain extent over the forecast period.

Key companies in the Cell Viability Assays market include:

Thermo Fisher Scientific, Inc., Agilent Technologies Inc., Bio-Rad Laboratories, Becton, Dickinson and Company, Merck KGaA, GE Healthcare, BioTek Instruments, PerkinElmer, Inc., Promega Corporation, Biotium, Abcam Plc., Canvax, Danaher Corporation, and Creative Bioarray.

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For the purpose of this report, Reports and Data has segmented the global cell viability assays market based on product, application, end-use industry, and region:

Product Outlook (Revenue, USD Billion; 2018-2028)

Consumables

Reagents
Assay Kits
Tetrazolium Reduction Assay Kits
MTT Assay Kits
Other Tetrazolium Assay Kits
Resazurin Cell Viability Assay Kits
Calcein-AM Cell Viability Assay Kits
Other Assay Kits
Microplates

Instruments

Spectrophotometers
Flow Cytometers
Automated Cell Counters
Cell Imaging & Analysis Systems

Application Outlook (Revenue, USD Billion; 2018-2028)

Basic Research
Stem Cell Research
Drug Discovery & Development
Clinical and Diagnostics
Others

End-use Outlook (Revenue, USD Billion; 2018-2028)

Pharmaceutical & Biotechnology Companies
Hospitals & Diagnostic Labs
Academic & Research Institutes
Others

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Some Key Highlights from the Report:

Consumables segment is expected to register significant revenue growth during the forecast period owing to increasing demand for consumables such as assay kits, reagents, and microplates in cell viability experiments in stem cell and cancer research.

Drug discovery and development segment is expected to account for considerably large revenue share in the global market between 2021 and 2028. Increasing prevalence of chronic and infectious diseases have boosted demand for effective therapeutic approaches and growing financial support from governments for development of novel drugs and therapeutics are expected to contribute significantly to revenue growth of this segment.

Pharmaceutical and biotechnology companies segment is expected to register rapid revenue CAGR during the forecast period owing to increasing focus on stem cell research, rising investment in biopharmaceutical R&D, and growing application of cell viability assays in drug discovery and development.

North America is expected to account for largest market share in terms of revenue during the forecast period owing to increasing private and public funding for stem cell and cancer research, rising demand for biologics, and presence of state-of-the-art healthcare and research infrastructure in the region.

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COVID-19 impact on the market and industry as well as the recovery analysis.

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