Cell Based Assays Market is Projected to Surpass US$19,710.7 mn by 2022

Global Cell Based Assays Market: Snapshot

The demand in the global cell based assays market is expanding at a CAGR of 7.7% during the forecast period of 2017 to 2022, gaining traction from a number of factors such as prevalence of numerous chronic diseases, government support for the research and development activities, and improving healthcare infrastructure in emerging economies in Asia Pacific. On the other hand, restrictions on the usage of reagents and high cost of instruments are the factors that are challenging the prosperity of the global cell based assays market. In terms of revenue, the global cell based assays market is estimated to be worth US$19,710.7 mn by 2022, significantly up from its evaluated valuation of US$13,576.7 mn in 2017.

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Reagents and Consumables Emerges As Profitable Product Segment

Based on product type, the global cell based assays market has been segmented into instruments, reagents and consumables, assay kits, services, and software. Among these, reagents and consumables constituted 32.1% of the overall demand for cell based assays in 2017, which was worth US$4,356.6 mn. Increasing adoption of cell-based consumables by prominent biopharmaceutical companies and growing number of contact research organizations are some of the factors reflecting positively on this segment. By the end of the forecast period, 2022, the reagents and consumables segment is expected to lose a little bit of ground, although it will remain the most profitable product-type, promising a demand worth of US$6,260.2 mn by 2022. This segment alone is projected for a CAGR of 7.5% during the said forecast period.

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On the basis of end-user, the global cell based assays market has been bifurcated into pharmaceutical and biotechnology companies, academic institutions, contract research organizations, and other end-users such as clinical laboratories, hospitals, and environmental monitoring labs. Currently, pharmaceutical and biotechnology companies serve the maximum demand, which is a reflection of growing adoption of cell-based assays for drug discovery by the end users, especially in the developed countries within North America and Europe. Application-wise, the global cell based assays market has been categorized into drug discovery, predictive toxicology, basic research, and other applications.

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