Press Release

Global Market of Cell-Based Assays to Exceed USD 29 Billion by 2029

The Global Cell-based Assay Market is projected to grow at a CAGR of 8.4% during the forecast period of 2024-29, cites MarkNtel Advisors in the recent research report. The market is estimated to exceed USD 29 billion by 2029.

The growth of the cell-based assay market is primarily driven by the increasing adoption of these assays in various fields, including drug discovery, toxicology studies, and disease research. As the pharmaceutical and biotechnology industries continue to advance, there is a growing demand for personalized medicine and targeted therapies, which further contributes to the expansion of the cell-based assay market. Additionally, ongoing technological advancements in fluorescence, luminescence, and flow cytometry-based assays are expected to fuel market growth. Researchers and companies are focusing on developing innovative and efficient cell-based assay technologies to meet the evolving needs of the industry.

Furthermore, the rising prevalence of chronic diseases and the need for more accurate and reliable diagnostic tools are driving the demand for cell-based assays in clinical research and diagnostics. The versatility and applicability of cell-based assays in assessing cellular functions and responses make them valuable tools for understanding disease mechanisms and developing novel therapeutics. With an increasing emphasis on precision medicine and targeted treatments, cell-based assays are becoming essential tools for drug screening and personalized treatment approaches.

The market's expansion is further supported by increased investments in life sciences research and development across various regions. Governments, academic institutions, and private enterprises are investing heavily in research initiatives, leading to a surge in demand for cell-based assay services, further states the research report, “Global Cell-based Assay Market Analysis, 2024.”

Segmentation Analysis

Consumables Hold Significant Share in the Global Cell-based Assay Market

Based on the products & services of cell-based assays, the market is divided into consumables, instruments & software, and services. Consumables such as reagents, assay kits, cell lines, and probes & labels are expected to be the dominant force in the Global Cell-based Assay Market. These consumables are vital components for conducting cell-based assays, and their continuous demand arises from the ongoing requirements in research, drug development, and diagnostics across various sectors, including pharmaceuticals, biotechnology, and healthcare.

The crucial role played by consumables like lipid nanoparticles, buffers, and stabilizers in vaccine development emphasized their importance not only in battling the pandemic but also in advanced biotechnological applications. Moreover, instruments and software are heavily reliant on proper & interrupted supply of consumables to conduct research work. Based on all these factors, consumables are the leading segment and expected to dominate the Global Cell-based Assay Market during forthcoming years.

North America Leading the Cell-based Assay Market

Geographically, the Global Cell-based Assay Market is bifurcated into North America, South America, Europe, the Middle East & Africa, and Asia-Pacific. North America's continued dominance in the Global Cell-based Assay Market is driven by a robust healthcare infrastructure, active research and development in the life sciences, and strong contributions from academic institutions, pharmaceutical companies, and biotech firms.

The region's demand for cell-based assays is fueled by a thriving research and pharmaceutical sector, stringent regulatory standards, global industry impact, and a diverse patient population. Government-sponsored research initiatives, such as those by the U.S. NIH, Canadian CIHR, and Mexican CONACYT, further enhance North America's position by fostering innovation and collaboration. With its advanced healthcare, research-driven approach, and key market players, North America is expected to maintain its leadership in the Global Cell-based Assay Market.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Cell Signaling Technology, Inc., Danaher Corporation, Thermo Fisher Scientific, Merck KGaA, Lonza Group, Abcam plc., Becton, Dickenson and Company, Promega Corporation, Bio-Rad Laboratories, Inc., PerkinElmer Inc., Cayman Chemical, R&D Systems, Inc., AnaSpec, Enzo Life Sciences, Inc., Menarini Silicon Biosystems, Inc., and Others are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the regions?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping across various regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-29?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?