With growing prevalence of chronic diseases such as cancer, cardiovascular diseases, and infectious diseases, the need for cell-based assays has increased significantly. Cell-based assays help in eliminating animal testing and provide economically viable and viable alternatives for drug discovery and toxicity screening. They are highly sensitive, specific and reliable techniques for determining cell response to pharmaceutical compounds, production compounds or environmental toxins. 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 key trends:
One of the key drivers of the cell-based assay market is the rising prevalence of chronic diseases. According to the Centers for Disease Control and Prevention (CDC), over half of all adults suffer from at least one chronic disease. The increasing cases of cancer, cardiovascular diseases, infectious diseases, and neurological diseases have accelerated the demand for development of new and effective drugs. Cell-based assays are widely used in pre-clinical studies for toxicity screening and mechanism of action studies of potential drug candidates. Their high sensitivity and throughput allow screening of large compound libraries to identify potential drug candidates. Thus, the rising prevalence of chronic diseases and need for specialized therapeutics are expected to propel the demand for cell-based assays over the forecast period.
SWOT Analysis
Strength: Cell-based assays help simplify complex biological questions. They enable analyzing multiple cell parameters simultaneously thus providing comprehensive understanding of cell health and function.
Weakness: Cell-based assays require specialized equipment, sophisticated techniques, and reagents which increase their cost. Maintaining cell viability and function throughout the assay process is challenging.
Opportunity: Rise in R&D expenditure for drug discovery and healthcare research is driving the demand for cell-based assays. Growing focus on developing personalized medicine also presents an opportunity.
Threats: Availability of cheaper alternative techniques like molecular assays limits the growth of cell-based assay market. Stringent regulations associated with cell-based reagent manufacturing poses a threat.
Key Takeaways
The global cell-based assay market is expected to witness high growth. Advancements in cell-based assay techniques have increased their usage in pharmaceutical and biotechnology companies for drug discovery, toxicity screening, and basic research applications.
Regional Analysis: North America dominates the market currently due to presence of major players and rising research expenditures in the region. The Asia Pacific region is expected to grow at a fastest pace in the forecast period with increasing investments in pharmaceutical and biotech sectors in China, India and Japan.
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. These players are focusing on expanding their product portfolio and capabilities through acquisitions and partnerships. For instance, in 2021 Danaher Corporation acquired Aldevron to expand its capabilities in cell and gene therapy.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it