The increasing interest of the pharmaceutical industry in drug screening with the help of cell-based assays has been a catalyst to progress in the global cell-based assay market.
FREMONT, Calif., April 27, 2023 /PRNewswire/ -- BIS Research, the global leader in providing market intelligence on deep technologies, has released its latest study titled Cell-Based Assay Market - A Global and Regional Analysis.
According to this study, the global cell-based assay market was valued at $17.20 billion in 2022 and is projected to reach $38.23 billion by 2032, growing at a staggering CAGR of 8.44%.
The following factors are responsible for the increase in demand for cell-based assay:
- Increase in demand for cell-based assays in drug discovery and development
- Rise in life sciences research investments
- Technological advancements
The detailed study is a compilation of 2 market data tables and 92 figures spread across 160 pages.
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Analyst's Take on the Market Projection
According to Akash Mhaskar, Principal Analyst, BIS Research, "The global cell-based assay market is strongly driven by the rising incidence of diseases, increasing research, and drug screening. The global cell-based assay market has witnessed a surge in demand for cell-based assay kits, reagents, instruments, and software required in drug screening, predictive toxicology, and basic research. This trend is also expected to continue during the forecast period. Therefore, the impact of the aforementioned factors is expected to drive the global cell-based assay market in the near future."
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Pharma and Biopharma Companies to be the Leading End User Segment for Cell-Based Assay Market
According to the research report from BIS Research, as of 2022, based on end users, the global cell-based assay market was dominated by the pharmaceutical and biopharmaceutical companies segment, holding a 51.36% market share. The report further suggests that this trend is expected to continue during the forecast period of 2023-2032, with the pharmaceutical and biopharmaceutical companies segment expected to reach $19.33 billion in 2032 from $8.83 billion in 2022, growing at a CAGR of 8.27%.
Major Industry Leaders in the Cell-Based Assay Market
The companies profiled have been selected based on input gathered from primary experts and analyzing company coverage, product portfolio, and market penetration. Some of the established names in the market are 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, and more.
Recent Developments in the Global Cell-Based Assay Market
- In April 2022, Lonza Group AG announced an enhancement to its automated cell therapy manufacturing system called the Cocoon Platform. The latest addition, known as magnetic selection, would broaden the platform's capabilities by enabling cell binding, separation, and bead removal (if needed), all conducted through the Cocoon cassette.
- In July 2021, PerkinElmer, Inc. announced that it had reached a definitive agreement to acquire BioLegend, a manufacturer of high-quality antibodies and reagents used in biomedical research, for $5.25 billion.
- In July 2021, Lonza Group AG and CN Bio established a distribution agreement that involves Lonza Group AG providing hepatic cells to CN Bio for prequalification, which would be utilized in their PhysioMimix single-and multi-organ MPS technology.
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