Global Cell Based Assays Market Estimated to be worth US$19,710.7 mn by 2022

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The demand in the global cell based assays market is expanding at a CAGR of 7.7% during the forecast period of 2017 to 2022, gaining traction from a number of factors such as prevalence of numerous chronic diseases, government support for the research and development activities, and improving healthcare infrastructure in emerging economies in Asia Pacific. On the other hand, restrictions on the usage of reagents and high cost of instruments are the factors that are challenging the prosperity of the global cell based assays market. In terms of revenue, the global cell based assays market is estimated to be worth US$19,710.7 mn by 2022, significantly up from its evaluated valuation of US$13,576.7 mn in 2017

Reagents and Consumables Emerges As Profitable Product Segment

Based on product type, the global cell based assays market has been segmented into instruments, reagents and consumables, assay kits, services, and software. Among these, reagents and consumables constituted 32.1% of the overall demand for cell based assays in 2017, which was worth US$4,356.6 mn. Increasing adoption of cell-based consumables by prominent biopharmaceutical companies and growing number of contact research organizations are some of the factors reflecting positively on this segment. By the end of the forecast period, 2022, the reagents and consumables segment is expected to lose a little bit of ground, although it will remain the most profitable product-type, promising a demand worth of US$6,260.2 mn by 2022. This segment alone is projected for a CAGR of 7.5% during the said forecast period.

On the basis of end-user, the global cell based assays market has been bifurcated into pharmaceutical and biotechnology companies, academic institutions, contract research organizations, and other end-users such as clinical laboratories, hospitals, and environmental monitoring labs. Currently, pharmaceutical and biotechnology companies serve the maximum demand, which is a reflection of growing adoption of cell-based assays for drug discovery by the end users, especially in the developed countries within North America and Europe. Application-wise, the global cell based assays market has been categorized into drug discovery, predictive toxicology, basic research, and other applications.

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North America to Remain Most Profitable Region Until 2022

Geographically, this report gauges the potential of cell based assays market in the regions of Europe, North America, Asia Pacific except Japan (APEJ), Latin America, and the Middle East and Africa (MEA), as well as in the country of Japan. In 2017, North America emerged as the most lucrative region for the vendors operating in this market, representing a demand worth of US$5,164.0 mn. The North America cell based assays market has been expected to experience incrementing demand at an above-average CAGR of 8.2% to reach a valuation of US$7,672.5 mn by 2022. The dominance of this region can be attributed to growing availability of funds for research and resilient drug discovery activities in the country of the U.S. While Europe is currently the second most profitable region, promising a demand for cell based assays that would be worth US$4,864.3 mn by 2022, its CAGR for the said forecast period is 6.9%, substantially lower than the same for APEJ, which is projected to increment the demand at 8.1%. China and India are identified as most profitable countries in the region of Asia Pacific except Japan, driven by the availability of low cost labor, which has attracted a number of companies to invest.

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