Global Cell Based Assays Market Report to 2028: Increasing Number of Drug Discovery Activities Will Fuel Growth

DUBLIN, March 28, 2023 /PRNewswire/ -- The "Cell Based Assays Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Products & Services (Reagents, Assay Kits, Microplates, Probes & Labels, Cell Lines, Others), By Application, By End User, By Region and Competition" report has been added to  ResearchAndMarkets.com's offering.

The Global Cell-Based Assays Market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing demand for novel drugs for treating chronic diseases.

The use of therapeutic drugs during various disease outbreaks, along with the growing number of research activities are two significant factors responsible for the growth of global cell-based assay market. Rising government expenditure in the healthcare sector and the rising need for toxicity screening in drugs are expected to drive market growth across different parts of the globe.

Additionally, the growing demand for efficient treatment for rare diseases is further expected to increase the demand for cell-based assays, thereby fuelling market growth through 2028. Besides, growing awareness of the advantages of using new treatments along with the increasing demand to reduce the costs associated with drug discovery across the globe, are further expected to support the cell-based assays market during the forecast period.

Growing Demand for Cell-Based Assays Will Propel the Market Growth

Increasing demand for identification and optimization procedures for drug development is a major factor that will boost market growth during the forecast period. Growing adoption by pharmaceutical and biotechnology firms is another important factor driving the growth of this market.

Furthermore, the increasing risk of disease outbreaks like swine flu, and COVID-19 and the growing rate of research activities are also expected to fuel the market growth over the years. From September 28, 2020-May 22, 2021, in the United States, 1,675 (0.2%) of 818,939 respiratory specimens tested by U.S. clinical laboratories were positive for the influenza virus.

The low labor and raw material costs along with more and more CRO companies providing drug discovery services are expected to create lucrative growth during the forecast period. Increasing growth in drug discovery projects and rising adoption of strategic approaches, like collaboration with different companies for developing new drugs, will further propel the growth of the market over the years.

Increasing Number of Drug Discovery Activities Will Fuel the Market Growth

The increasing prevalence of lifestyle disorders like arthritis, diabetes, epilepsy, cancer, cardiovascular diseases, etc., will enhance the growth of the cell-based assay market.

Government organizations are investing in the research and development sector for developing new drugs for the diagnosis of chronic diseases such as cancer, diabetes, and autoimmune disorders, which is expected to create lucrative growth during the forecast period.

The rising demand for novel drugs across the world for the treatment of pandemic diseases is propelling the growth of the market over the years.

For instance, in May 2021, U.S. FDA granted Emergency Use Authorization (EUA) for the T-Detect COVID-19 routine T-cell test. Similarly, the rising number of research for therapeutic drug discovery and growing competition for FDA approvals among the market players is expected to create lucrative growth during the forecast period.

Market Players

Corning, Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Danaher Corporation, Lonza Group AG, Promega Corporation, F. Hoffmann-La Roche AG, Merck KGaA, Charles River Laboratories International, Inc., Menarini Silicon Biosystems, Inc. are some of the leading players operating in the Global Cell-Based Assays Market.

Recent Development

• For instance, in September 2022, researchers at the Fraunhofer Institute developed Proxidrugs to utilize a cells-based waste disposal system as a potential therapeutic option for infections, cancer, and Alzheimer's disease.
• For instance, in November 2021, Menarini Silicon Biosystems, launched its CELLSEARCH, a laboratory-developed test to aid the enumeration of multiple myeloma cells using a blood sample.
• For instance, in August 2022, LifeNet Health LifeSciences announced the launch of its new cell-based assay services to aid in drug discovery and development.

Report Scope:

In this report, Global Cell-Based Assays Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Cell-Based Assays Market, By Products & Services:

• Reagents
• Assay Kits
• Microplates
• Probes & Labels
• Cell Lines
• Others

Cell-Based Assays Market, By Application:

• Clinical Research
• Drug Discovery & Development
• Others

Cell-Based Assays Market, By End User:

• Biotechnology & Pharmaceutical Companies
• Academic & Research Institutions
• Contract Research Organizations

Cell-Based Assays Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

For more information about this report visit https://www.researchandmarkets.com/r/iibrhd

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