Cell-Based Assay Market | Size, Share and Scope Analysis to 2031

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Cell-Based Assay Market Size, Share & Trends Analysis Report By Product (Consumables, Instruments & Software, And Services), Application (Drug Screening, Basic Research, Predictive Toxicology), Technology (Flow Cytometry, Automated Handling, High Throughput Screening, High Content Screening), And End-User (Pharmaceutical & Biopharmaceutical Companies, CROs, Academic Research)- Market Outlook And Industry Analysis 2031"

The Global Cell-Based Assay Market is estimated to reach over USD 32.02 billion by 2031, exhibiting a CAGR of 7.72% during the forecast period.

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One of the main drivers of market development is the increasing incidence of chronic diseases and lifestyle disorders like cancer, cardiovascular, diabetes, and neurological disorders. As per the International Agency for Research on Cancer (IARC) report released in December 2020, there are currently 19.3 million cases of cancer worldwide.

Furthermore, the International Agency for Research on Cancer (IARC) forecasts that by 2040, there will be 27.5 million additional cases of cancer worldwide. As a result of the increased incidence of cancer worldwide, there is a growing need for effective therapies or treatments, which is anticipated to fuel the expansion of the cell-based assay market over the course of the forecast period. More than 60 million people in the European Union have a cardiovascular illness, and about 13 million new cases are identified every year, as per the data released by the European Heart Network in 2021. As a result, the rise in chronic diseases fuels a rise in demand for cell-based assays for discovering new drugs, which is crucial for market expansion.

Additionally, a rise in cell-based applications for drug discovery and a rise in technological developments in cell-based assay methodologies have led to a significant increase in the demand for cell-based assays.

List of Prominent Players in the Cell-Based Assay Market:
• Becton, Dickinson and Company
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• Merck KGaA
• Thermo Fisher Scientific, Inc.
• Corning Incorporated
• Lonza Group AG
• Agilent Technologies, Inc.
• Promega Corporation
• PerkinElmer, Inc.
• Eurofins DiscoverX Products
• Cell Signaling Technology, Inc.
• Charles River Laboratories International, Inc.
• Laboratory Corporation of America Holdings

Market Dynamics:
Drivers-
Unlike biochemical experiments, they provide constant tissue-specific responses in a physiologically realistic milieu. The pharmaceutical and biotechnology companies are also utilizing cell-based assays as part of their lead identification and optimization processes for drug development, which is the main reason fueling this market's expansion. Additionally, the likelihood of disease outbreaks (such as COVID-19 and swine flu) increasing as well as an increase in research activities are predicted to drive market expansion. The market's expansion is additionally anticipated to be tempered by the cheap costs of labor and raw materials as well as the rising number of CROs offering drug discovery services.

Challenges:
The usage of these pricey methods has significantly raised the overall cost of producing biopharmaceuticals. Due to low adaption, the expensive instrumentation will result in a lower return on investment (ROI), which is anticipated to impede market expansion. The market for cell-based assays is also predicted to have complications throughout the forecast period due to a lack of qualified workers.

Regional Trends:
Due to the developed healthcare industry and widespread use of cell-based assays, North America now holds the largest market share globally. Chronic diseases like cancer, osteoarthritis, and diabetes are becoming more common in the United States, which is boosting demand for cell-based assays for innovative drug discoveries and contributing to the expansion of this market. For example, according to the American Cancer Society's Cancer Facts & Figures 2022 data, there will be an anticipated 1.9 million new cancer cases identified and 609,360 cancer deaths in the United States. Similarly to this, the American Heart Association stated in January 2022 that someone would experience a myocardial infarction in the United States every 40 seconds on average. The prevalence of chronic diseases in the American population is predicted to fuel market expansion over the course of the forecast period.

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Recent Developments:
• In August 2022, Cytotoxicity testing, biocompatibility assays, and other cell-based assay services were introduced by Life Net Health LifeSciences.
• In May 2022, The Aquios STEM system was introduced by Beckman Coulter Life Sciences to offer a fresh approach to stem cell investigation. With fewer manual and error-prone stages, the turnaround time is reduced dramatically.

Segmentation of Cell-Based Assay Market-
By Product-
• Consumables
o Reagents
o Assay Kits
o Microplates
o Cell Lines
o Probes and Labels
o Other Consumables
• Instruments and Software
• Services

By Application-
• Drug Screening
• Basic Research
• Predictive Toxicology
• Other Applications (Other Industries, Cell and Gene therapy, among others)
By Technology-
• Flow Cytometry
• Automated Handling
• High Throughput Screening
• High Content Screening
• Other Technologies (Label-Free Detection, Image Cytometry, among others
By End User-
• Pharmaceutical and Biopharmaceutical Companies
• Contract Research Organizations (CROs)
• Academic and Research Institutes
• Other End Users (Government Organizations)
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.