Global Cell-Based Assays Market: Increased Availability of Funding for Research and Strong Government Support Behind Growth, says TMR
Albany, NY -- (SBWIRE) -- 03/14/2018 -- The global cell-based assays market comprises a large number of players and therefore the vendor landscape is extremely fragmented. This scenario is expected to continue as an increasing number of both biotechnology and pharmaceutical companies enter into this market with their strong financial background, states Transparency Market Research (TMR) in its latest research report. The leading players within the global cell-based assays market are GE Healthcare Inc., Charles River Laboratories, Danaher Corporation, Lonza Group Ltd., Becton, Dickinson and Company, Merck & Co Company, Cell Signaling Technology, Inc., Thermo fisher Scientific Inc., PerkinElmer Inc., Marin Biologic Laboratories, Promega Corporation, Essen BioScience Inc., BioAgilytix Labs., Cell Biologics Inc., Enzo Life Sciences, Inc., Selexis SA, Aurelia Bioscience Ltd., and QGel SA.
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According to Transparency Market Research, the global cell-based assays market will rise from US$13,576.7 mn in 2017 to US$19,710.7 mn by 2022, and expand at a 7.7% CAGR between 2017 and 2022. On the basis of geography, North America is estimated to turn out to be the most lucrative regional market. North America is estimated to exhibit a 7.5% CAGR during the forecast period from 2017 to 2022. By product, the reagents and consumables segment is leading and it accounted for 32.1% of the total market in 2017. On the basis of end-user, the pharmaceutical and biotechnology segment is anticipated to lead.
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High Demand From Pharmaceutical And Biotechnology Companies Driving Growth
One of the key factors boosting the global cell-based assays is the rising prevalence of chronic diseases such as cardiovascular diseases, cancer, diabetes, arthritis, and epilepsy. The increasing availability of funding for research coupled with huge support from governments are other factors boosting the growth of this market. Of late, there has been a rising preference for cell based essays on account of their ability to check for drug stability, drug purification, and drug potency. This along with rising drug discovery activities are helping the market to grow. Cell-based assays are being used extensively by pharmaceutical and biotechnology companies as they provide numerous possibilities to revolutionize the therapeutics for life-threatening diseases such as cancer.
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Restrictions Regarding Use Of Reagents To Pose A Challenge
The emergence of novel technologies in science and medicine will also be a factor which is driving the growth prospects of the cell-based assays market. The rising adoption of cell based essay for high throughput screening methods such as drug screening, in vitro testing methods for in vivo toxicity testing, and newer branches of bioscience such as synthetic biology will boost the growth prospect of this market. On the other hand, this market will be restricted by the high cost of instruments. In addition to this, there are several restrictions regarding the use of the reagents which will also challenge the growth of the market to a certain extent.
About Transparency Market Research
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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