Pune, India -- (SBWIRE) -- 02/21/2018 -- The report "Cell-Based Assays Market by Products & Services (Instruments, Consumables, Software and Services), Application (Drug Discovery, Basic Research, Predictive Toxicology, ADME Studies and Other Applications), End Users (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Academic & Government Institutions and Other End Users) - Global Industry Analysis, Trends analysis and Forecast up to 2023 studies the world as well as regional markets including North America, Europe, Asia Pacific and RoW (Including Latin America, Middle East and Africa)", The cell-based assays market is expected to reach USD X.XX Billion by 2023 expanding at a CAGR of 8.5%. Factors driving the growth of this market include growing drug discovery activity, increasing incidence of chronic diseases, and growing preference for cell-based assays.

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Consumables are estimated to Account for the Largest Share of the Market in 2017

By product and service, the cell-based assays market is classified into instruments, consumables, software and services. The consumables segment is expected to lead the global cell-based assays in 2017. Factors driving the growth of this segment include increasing adoption of consumables in hospitals and clinical laboratories, rising incidence of chronic diseases, and increasing demand for quick results.

Drug Discovery is estimated to Command the Largest Share of the Market during the Forecast Period

On the basis of application, the cell-based assays market is categorized into drug discovery, basic research, predictive toxicology, ADME studies and other applications. The drug discovery segment is estimated to account for the largest share of the global cell-based assays market during the forecast period. Increasing demand for new drugs from the end use industries as well as growing use of cell-based assays for drug development over traditional techniques is the key factor driving the growth of this application segment.

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North America is estimated to Command the Largest Share of the Market

Based on region, the cell-based assays market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to dominate the cell-based assays market in 2017. This is attributed to factors such as rising adoption of cell-based assays platform as well as presence of number of pharmaceuticals industry in the region and growing investment in the research for drug discovery across the region.

Companies Covered in this Report:

The report profiles some of the key companies in the cell-based assays market including Perkinelmer, Inc., Thermo Fisher Scientific Inc.,Becton, Dickinson and Company, General Electric Company ,Merck KGaA, Danaher Corporation, Charles River Laboratories, Inc. , Cisbio Bioassays, Promega Corporation, Cell Biolabs, Inc.