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Cell Based Assays Market Insights, Demand, Analysis, Share, Forecast 2024-2033
Cell Based Assays Market Insights
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According to The Business Research Company's, The cell based assays market size has grown strongly in recent years. It will grow from $24.61 billion in 2023 to $26.9 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to emergence of hts techniques, integration of automation, utilization of biomarker detection, adoption of microfluidics, introduction of gene editing tools.
The cell based assays market size is expected to see rapid growth in the next few years. It will grow to $41.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to integration of ai and machine learning, shift in regulatory landscape, demand for high-content screening, advancements in disease modeling, focus on precision medicine. Major trends in the forecast period include high-throughput screening (hts), 3d cell cultures, organ-on-a-chip technology, crispr/cas9 technology, advancements in imaging techniques.
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Market Drivers and Trends:
Research with cell-based arrays is increasing with evolution and there is a definite need to move to more predictive cellular models for drug discovery in order to control the last-stage drug failures. The pharmaceutical industries' need to efficiently commercialize drugs in order to overcome expensive failures in the last stages is a driving force in cell-based assay innovation. Failure of investigational new drug (IND) Phase III clinical trials results in a loss of several hundred million dollars to that company. For instance, according to a report by Sigma, the return on investment for pharmaceutical companies could drop to 5% considering the current level of late-stage failures which is an unacceptable level for most companies. Major improvements to high-content systems and data analysis from the cell-based assays enable scientists to extract more information about the cellular response and help make informed decisions during drug discovery, and further driving the growth of the cell-based array market.
Researchers are inclining toward early-phase predictive toxicity testing that prevents late-stage drug failures. Predictive cell toxicity assays are being scaled up to increase the screening of compounds in the early phases of drug development, reducing the cost of failure. For instance, Creative Bioarray, a biotech company provides a range of in vitro toxicity services to check drug-induced toxicities that save time and cost by reducing the chance of failure in earlier stages. These advances will make clinical testing easy and reduce the cost of operation.
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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Becton, Dickinson and Company, GE HealthCare Technologies Inc., Corning Incorporated, Lonza Group Ltd., Charles River Laboratories International Inc., PerkinElmer Inc., Sigma-Aldrich Corporation, Bio-Rad Laboratories Inc., Miltenyi Biotec GmbH, Abcam plc, BioVision Inc., Promega Corporation, Caliper Life Sciences Inc., Cell Signaling Technology Inc., BioTek Instruments Inc., Enzo Life Sciences Inc., BioAgilytix Labs LLC, Cisbio International LLC, ProQinase GmbH, QGel SA, Biotium Inc., Selexis SA, Aurelia Bioscience Ltd., Creative Bioarray, Cell Biolabs Inc., Essen BioScience Ltd., Eurofins Scientific SE, DiscoveRx Corporation
Cell Based Assays Market 2024 Key Insights:
• The cell based assays market size is expected to see rapid growth in the next few years. It will grow to $41.86 billion in 2028 at a compound annual growth rate (CAGR) of 11.7%.
• The Imperative Shift To Predictive Cellular Models Is Fuelling Innovation In Cell-Based Assay Innovation Market
• Harnessing Early Predictive Toxicity Testing To Streamline Drug Development Costs
• North America was the largest region in the cell-based assays market in 2023
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