The global cell based assays market in terms of revenue was estimated to be worth $18.9 billion in 2023 and is poised to reach $28.2 billion by 2028, growing at a CAGR of 8.4% from 2023 to 2028.
The global cell-based assays market is expected to grow at a CAGR of 8.4% during the forecast period. The market for cell-based assays is experiencing significant growth primarily due to the increasing demand for drug discovery and development, as well as the rising adoption of cell-based assays in this process. Government support and funding for cell-based research initiatives are further contributing to this growth. Additionally, efforts by regulatory authorities, such as the FDA, to reduce reliance on animal-based studies are driving the adoption of cell-based assays.
DOWNLOAD PDF BROCHURE:https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=88705076
The instruments and software segment accounted for the second largest share, by product and service in the cell-based assays market in 2022.
These sophisticated instruments enable researchers to automate and streamline various aspects of cell-based assays, enhancing efficiency, accuracy, and throughput. Additionally, powerful software platforms provide advanced data analysis, visualization, and integration capabilities, enabling researchers to derive valuable insights from their experiments. The integration of cutting-edge instruments and software solutions into cell-based assays research workflows is revolutionizing the field and propelling the market forward.
The pharmaceutical & biopharmaceutical companies segment accounted for the largest share of the end user segment in the cell-based assays market in 2022.
The pharmaceutical & biopharmaceutical companies dominated the market in 2022. Pharmaceutical & biopharmaceutical companies are the largest end users of cell-based assays. The demand for cell-based assays in this end-user segment is driven by the growth in the number of R&D activities for the development of new pharma and biotech drugs and therapies coupled with the adoption of cell-based assays in these companies.
The North America region catered the largest share of the cell-based assays market in 2022.
North America has emerged as the dominant region in the cell-based assays market. The region's leadership can be attributed to several factors, including a robust pharmaceutical and biotechnology industry, extensive research and development activities, and a favorable regulatory environment. Furthermore, the presence of key market players, advanced healthcare infrastructure, and significant investments in drug discovery and development contribute to North America's strong market position. The region's emphasis on technological advancements and the adoption of innovative approaches in cell-based assays further solidifies its dominance in the market..
Key players in the cell-based assays market include Danaher Corporation (US), Thermo Fisher Scientific (US), Merck (Germany), Becton, Dickinson and Company (US), Lonza (Switzerland), PerkinElmer (US), Charles River Laboratories (US), Eurofins Scientific (France), Enzo Biochem (US), Carna Biosciences (Japan), Cell Biolabs (US), Promega Corporation (US), Cell Signaling Technology (US), BioAgilytix Labs (US), Reaction Biology Corporation (US), AAT Bioquest (US), Pestka Biomedical Laboratories (US), InvivoGen (US), CA3 Biosciences (US), BPS Bioscience (US), BellBrook Labs (US), Profacgen (US), BMG LABTECH (Germany), Hanugen Therapeutics (India), and JRS Pharma (Germany).
Read Full Report: https://www.marketsandmarkets.com/Market-Reports/cell-based-assays-market-119917269.html
