Cell-based assays help in studying the potential toxicity or efficacy of drugs, biologics, and therapeutics by testing their effects on live cells. They allow scientists to understand how a substance may affect the process of cells. This is crucial during drug development to ensure safety and effectiveness. The need to screen therapeutics and biologics for potential toxicity and efficacy has increased significantly in recent years owing to rising R&D investments in pharmaceutical and biotechnology companies.
The global cell-based assay market is estimated to be valued at US$ 1389.05 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The surging demand for screening therapeutic compounds and biological products has opened lucrative growth opportunities for players in the cell-based assay market. Cell-based assays allow for effective screening of large compound libraries with live mammalian and human cells which closely mimic in vivo conditions. This makes them highly suitable for evaluating potential toxicity and efficacy at early drug development stages. The growing R&D investments in drug discovery and development will continue driving the adoption of cell-based assays among pharmaceutical companies going forward. Companies developing innovative cell-based assay solutions and services stand to benefit from this opportunity.
Porter’s Analysis
Threat of new entrants: The cell-based assay market requires high capital investment for R&D which limits the threat of new entrants. However, availability of new technologies can pose potential threat to existing players.
Bargaining power of buyers: Numerous global players and availability of substitute products provides buyers with high bargaining power. Buyers can negotiate on price and demand customized solutions.
Bargaining power of suppliers: Suppliers operating in the market include raw material suppliers and technology providers. Suppliers have moderate bargaining power due to availability of substitutes and established buyer-supplier relationships.
Threat of new substitutes: Introduction of new technologies like microfluidics, imaging solutions, label-free detection poses threat of substitution. However, cell-based assays are established laboratory methods limiting impact of substitutes.
Competitive rivalry: Presence of global established players intensifies competition. Players differentiate through product innovation, service offerings, applications and strategic collaborations/acquisitions.
SWOT Analysis
Strengths: Established market with wide application in drug discovery & toxicity testing. Technological advancements improving efficiency, throughput and usability.
Weaknesses: High capital investment requirements. Require skilled professionals limiting adoption among small labs.
Opportunities: Emerging economies provide growth opportunities. Application expansion in personalized medicine, stem cell research presents opportunities.
Threats: Stringent regulations constrain market growth. Alternate methods’ adoption may impact sales. Intense competition affects pricing and market share.
Key Takeaways
The global cell-based assay market is expected to witness high growth over the forecast period of 2023-2030. The market size is projected to reach around US$ 2,357.7 Mn by 2030 from US$ 1,389.05 Mn in 2024, rising at a CAGR of 5.7%.
Regional analysis: North America dominates currently due to presence of major players, funding availability and advanced research infrastructure. Asia Pacific is fastest growing region on back of rising healthcare spending, outsourcing of clinical trials and increasing biotech research.
Key players: Key players operating in the cell-based assay market are DiscoverX Corporation, Becton, Dickinson and Company, cell Signaling Technology, Inc., Becton, Danaher Corporation, Thermo Fisher Scientific, Inc., Cisbio Bioassays, Merck & Co., and PerkinElmer, Inc. and others. DiscoverX offers multiple cell-based assay services and kits for applications including ion channel and GPCR screening. BD focuses on providing reagents, microplates and imaging solutions.
The cell-based assays market is projected to reach USD 18.9 billion by 2024 from USD 13.9 billion in 2019, at a CAGR of 6.3%.Consumables dominated the cell-based assays market in 2019 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 studies in pharmaceutical and biotechnology companies resulting in high demand for consumables.Download a PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=119917269 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 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 2019North 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 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.Request a Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=119917269Leading CompaniesThermo 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).
