Cell-Based Assays Market Worth 18,329.37 Million USD by 2020
PUNE, India, November 3, 2015 /PRNewswire/ --
According to a new market research report "Cell-based Assays Market by Product (Cell Lines, Reagents, Kits, Instruments, Software, Services), Applications (Research, Drug Discovery, ADME Studies, Toxicology), End User (Pharmaceutical Companies, Academics, CRO), & Region - Global Forecast to 2020", published by MarketsandMarkets, The global cell-based assays market is expected to reach USD 18,329.37 Million by 2020 from USD 10,799.53 Million in 2015, growing at a CAGR of 11.16% between 2015 and 2020.
Browse 74 market data Tables and 87 Figures spread through 169 Pages and in-depth TOC on "Cell-based Assays Market"
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The report provides a detailed overview of the major drivers, restraints, opportunities and trends impacting the global cell-based assays market along with the estimates and forecasts of the revenue and market share analysis.
The global cell-based assays market is expected to reach USD 18,329.37 Million by 2020 from USD 10,799.53 Million in 2015, growing at a CAGR of 11.16% between 2015 and 2020. The drivers include increasing R&D spending on research. Additionally, growing benefits of cell-based assays over other methods, their increasing adoption in drug discovery, and advancements in automation and high-throughput techniques will aid market growth.
Increasing R&D spending will aid the growth of the cell-based assays market. Increasing number of biotechnology & pharmaceutical companies will also aid the growth of the cell-based assays market owing to the major share in the market. Today, the global biopharmaceutical revenues in 2014 are estimate to be USD 163 billion, contributing to about 20% of the pharmaceutical market. It is the fastest growing area of the industry. According to estimates from the IMS Institute of Healthcare Informatics, the global pharmaceutical industry is expected to grow at a CAGR between 7% and 12% in the forecast period (2014 to 2019). Increased research and development spending by pharmaceutical and biotechnology companies aided by increasing drug development research, which has a strong upward trend worldwide and is expected to drive the cell-based assays market.
The Asia-Pacific region is expected to witness the highest CAGR in this industry; growth rates are expected to be as high as 11% to 14% in emerging markets. This high growth rate, along with the substantial size of R&D spending on drug discovery projects, will act as an important driver of the cell-based assays market.
The product segments included in this report are consumables, instruments, services and software. The consumables segment is further divided on the basis of type into reagents and assay kits, cell lines, micro plates. Reagents and assay kits segment is further divided into reporter gene assays, second messenger assays, cell growth assays, cell death assays and other assays. Cell lines segment is further classified into immortalized cell lines, primary cell lines and stem cell lines. On the basis of applications; the report is segmented into basic research, drug discovery, predictive toxicology, ADME studies and other applications. The drug discovery had the largest share of the cell-based assays market in 2015. The predictive toxicology is expected to be one of the fastest growing applications between 2015 and 2020.
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The geographic segments included in this report are North Americas, Europe, Asia and Rest of the World (RoW). North America has the largest share of this market in 2015, while Asia is expected to grow at the fastest rate during the forecast period. Growth in the Asian cell-based assays market will primarily be driven by the increasing healthcare spending and growing population in this region.
The major players in the Cell-Based Assays Market include Becton, Dickinson and Company (U.S.), Merck & Co., Inc. (U.S.), Danaher Corporation (U.S.), Thermo Fisher Scientific, Inc. (U.S.), PerkinElmer, Inc. (U.S.), Cell Signaling Technology, Inc. (U.S.), Cisbio Bioassays (France), DiscoveRx (U.S.), General Electric Company (U.S.), and Promega Corporation (U.S.).
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