Cell Based Assays Market Estimated to Flourish by 2022
As per the projections of the TMR report, the demand in the global cell based assays market will expand at a healthy CAGR of 7.7% during the forecast period of 2017 to 2022. The revenue in the market for cell based assays, across the world, is estimated to be worth US$19,710.7 mn by 2022, substantially up from its evaluated valuation of US$13,576.7 mn in 2017. In the near future, most of the leading companies of this market are expected to invest on research and development in order to stay ahead of the curve. They are also expected to focus on emerging economies in Asia Pacific to gain market shares as well as indulge in collaborations and mergers.
Based on product-type, the global cell based assays market gains maximum demand for reagents and consumables, a segment that constituted 32.1% of the total demand in 2017 and produced a revenue of US$4,356.6 mn the same year. The demand for reagents and consumables segment of the cell based assays market has been anticipated to increment at a CAGR of 7.5% during the forecast period of 2017 to 2022. Geographically, the TMR report picks out North America as the most lucrative region, which is projected to exhibit an above-average CAGR of 7.5% during the said forecast period. North America cell based assays market is estimated to be worth US$7,672.5 mn by 2022.
The growing prevalence of chronic diseases such as cancer, arthritis, cardiovascular, diabetes, and epilepsy, increased availability of funding for research along with government support, incrementing preference for cell-based assays, and increasing drug discovery activity are some of the key factors augmenting the demand in the global cell based assays market.
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Cell based assays can be of various types, ranging from cytotoxic assays to cell proliferation, and are used to check drug stability, drug potency, and drug purification, as well as in production support. Cell based assays are primarily used by companies operating in the fields of pharmaceutical and biotechnology and has numerous possibilities for the future, promising to revolutionize the therapeutics of life-threatening diseases such as cancer and immunology.
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The global cell based assays market is also gaining traction from the emergence of novel technologies in science and medicine. For example, Symcel, the company who developed calScreener - a cell based assay tool for real-time cellular bioenergetic measurements, recently associated with Colzyx, working together on a goal to identify and test 25 different new collagen VI derived antimicrobial peptides. These recently discovered peptides are first of its kind and may be able to kill bacterial growth in different ways.
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Growing adoption of cell assay based high-throughput screening methods of drug compound screening, replacement of in vivo toxicity testing by in vitro testing methods, and emergence of new branches in bio-science such as synthetic biology, which depends on accurate cell testing, are some of the other factors that will ensure a healthy future growth of the cell based assay market. On the other hand, high cost of instruments and restrictions pertaining to the usage of reagents are challenging the cell based assays market from attaining its true potential.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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