Cell-based assays provides accuracy in obtaining the data of various parameters of the real-life model as live cells are used, cell-based assays are now used in drug discovery and checking the toxicity of new or old drugs used by population. With the rapid growth of pharmaceutical and biotechnological sector worldwide and emerging development of new drugs, the demand for cell-based assay is expected to witness a rapid increase. Companies are adopting the cell-based assay order to reverse the costly late-stage drug failure and thus the rising surge of cell-based assay is expect to have a positive effect on market growth in near future.
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Market Dynamics
Cumulative growth in drug discovery is expected to boost cell-based assay market in forecast period
Rapid growth in drug discovery is expected to increase the demand for cell-based assay as it is mainly used in checking toxicity of drugs. For instance according to FDA’s Center for Drug Evaluation and Research (CDER) in 2016, CDER approves averagely 30 novel drugs per year and the development of novel drug discovery is expected to increase in future. Many companies are involved in the drug discovery needs cell-based assay for testing new drugs that is expected to boost the cell-based assay market in forecast period. Since pharmaceutical market have become a billion-dollar business, many pharmaceutical and biotechnological companies are adopting cell-based assay in order to reduce the chances of failure of batch which lead to a high loss to company.
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North America is expected to dominate cell-based assay market due to growing pharmaceutical sector in region
Regional segmentation of cell-based assay market by Coherent Market Insights includes North America, Latin America, Europe, Asia Pacific, Middle East and Africa. North America is expected to hold a dominant position in the cell-based assay market due to rapid growth of pharmaceutical and biotechnology manufacturing sector. According to a study published in International Trade Administration in 2016, U.S. is a major hub for drug manufacturing and the market is expected to grow drastically in future which is expected to fuel cell-based assay market in North America.
Market Taxonomy:
On the basis of product, the cell-based assay market is segmented into:
- Cell Lines
- Microplates
- Instruments
- Software
- Reagents and Assay Kits
- Others
On the basis of application, the cell-based assay market is segmented into:
- Drug Discovery
- Predictive Toxicology
- ADME Process
- Others
On the basis of end-user, the cell-based assay market is segmented into:
- Pharmaceutical companies
- Biotechnology Companies
- Research Organizations
- Government & Academic Institutes
- Others
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