Press release
Cell Based Assays Market Projected to Witness a Double-Digit CAGR During 2010-2020
Cell based assays help to measure cell proliferations, motility, toxicity, production of a measurable product and morphology in diagnostics and drug discovery. Cell based assays facilitate research in the area of stem cells, cancer, immunology and others. On the basis of application, cell based assay market can be classified into drug discovery, predictive toxicology, basic research, ADME studies and others.
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North America, followed by Europe, has the largest market for cell based assays due to increasing drug related research, development activities, rise in adoption of cell based assay platforms and large number of pharmaceutical and biotechnology companies in this region. Asia is expected to show high growth rate in the cell based assays market in next few years due to technological advancement, rise in investments in R&D includes life science research and drug discover outsourcing in the region.
Increasing research activities in drug discovery, technological advancement, rise in demand for biological drugs, government expenditure, rising need for toxicity screening in drugs are expected to drive the market for cell based assays. In addition, significant advantages of cell based assay, innovations in technological advanced products and need to reduce costs associated with drug discovery are expected to drive the market for cell based assays. However, lack of skilled professionals, stringent intellectual property rights and high cost of instruments are some of the factors restraining the growth for global cell based assays market.
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Growing demographics and economies in the developing countries such as India and China is expected to lead the growth in cell based assays market. In addition, emergence of new technologies such as 3D cell based assays, advanced detection technologies, increasing requirement for toxicity screening and broadened applications of cell based assays are expected to offer new opportunities for global cell based assays market.
However, complexity of high throughput screening (HTS) assay, assay optimization and standardization are some of the challenges for the global cell based assays market. Some of the major companies operating in the global cell based assays market are Becton, Dickinson and Company, GE Healthcare, Discoverx, Promega Corporation, Thermo Fisher Scientific Inc., Danaher Corporation, Perkinelmer, Inc. and Merck KGaA.
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