Cell-based Assay Market: Growth In The Number Of Drug Discovery Activities

Cell-based Assay Market: Growth In The Number Of Drug Discovery Activities

The cell-based assay market is projected to reach USD 18.9 billion by 2024 from USD 13.9 billion in 2019, at a CAGR of 6.3%.

The growth of this market is majorly driven by the growing preference for cell-based assays, increasing research funding, and the growth in the number of drug discovery activities. However, the high cost of instruments and restrictions on reagent use are the major factors restraining the growth of this market.

Cell-based Assay Market

Consumables dominated the cell-based assays market in 2019

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By product, the cell-based assays market is segmented into consumables, instruments, and services. In 2019, the consumables segment accounted for the largest share of the market. The large share of this product segment can be attributed to the increasing volume of R&D studies in pharmaceutical and biotechnology companies resulting in high demand for consumables.

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 Drug Discovery held the largest share of the applications market in 2019

Based on applications, the cell-based assays market is segmented into drug discovery, basic research, and other applications such as quality checks among others. In 2019, the drug discovery segment accounted for the largest share of the cell-based assays market. The large share of this segment can be attributed to the increasing R&D investments and technological advancements in supportive processes such as high throughput screening and 3D cell cultures.

North America commanded the largest share of the cell-based assay market in 2019

North America commanded the largest share in the cell-based assay market. The large share of North America in this market can be attributed to the increasing R&D activities by biopharma companies and increasing presence of these companies in the US is expected to increase the demand for cell-based assays product and services in this region.

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Leading Companies

Thermo Fisher Scientific, Inc. (US), Danaher Corporation (Beckman Coulter, Inc.) (US), Becton, Dickinson and Company (US), GE Healthcare (US), Merck KGaA (Germany), Lonza Group (Switzerland), PerkinElmer, Inc. (US), Charles River Laboratories, Inc. (US), Cell Signaling Technologies (US), Cisbio (US), Cell Biolabs, Inc. (US), and Promega Corporation (US).

About Ritika Tyagi 62 Articles
I consult businesses as a Corporate Communicator where I help companies about the growth of the healthcare market and solve their companies growth and research challenges through my creative marketing strategies. Reach out to me in case you have something I can help with.