PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1296489
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1296489
The global cell-based assays market is projected to reach USD 28.2 billion by 2028 from USD 18.9 billion in 2023, at a CAGR of 8.4% during the forecast period of 2023 to 2028. The growth of this market is driven by the support and funding provided by governments for cell-based research initiatives The availability of funding for research & development activities related to cell-based research can significantly impact the development of innovative technologies and applications. In March 2020, the Government of Canada invested around USD 7.0 million through the Stem Cell Network's competitive research funding program to support stem cell research in Canada.
"The basic research segment accounted for the second largest share by application during the forecast period"
In 2022, basic research segment accounted for the second-largest share by application in the global cell-based assays market. Basic research plays a crucial role in advancing our understanding of cellular mechanisms, disease pathways, and therapeutic targets. Cell-based assays provide valuable tools for studying cellular responses, identifying drug candidates, and evaluating their efficacy. The demand for cell-based assays in basic research is growing as researchers strive to unravel the complexities of biological processes and develop innovative solutions for various diseases. This focus on basic research applications is fueling the expansion of the cell-based assays market.
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"The pharmacokinetic studies segment accounted for the second largest share of the cell based assays market by drug discovery application"
In the cell-based assays market, the pharmacokinetic studies segment holds significant importance within the drug discovery application. Pharmacokinetic studies involve the assessment of how drugs are absorbed, distributed, metabolized, and eliminated by the body. Cell-based assays play a crucial role in evaluating drug metabolism, drug-drug interactions, and the determination of drug concentrations in biological samples. These assays provide valuable insights into the pharmacokinetic properties of potential drug candidates, allowing researchers to optimize dosage regimens and enhance therapeutic outcomes. The growing emphasis on personalized medicine and precision dosing further drives the demand for pharmacokinetic studies using cell-based assays. With their ability to mimic physiological conditions and provide accurate drug response data, cell-based assays have become indispensable tools in pharmacokinetic research, contributing to the overall growth of the cell-based assays market
"Europe: The second largest region in the cell-based assays market"
Europe is the second-largest market for cell-based assays after North America. The European market comprises the UK, Germany, France, Spain, Italy, and the Rest of Europe (RoE). Factors such as rising government investments in life science research and the increasing focus on stem cell research and regenerative medicine drive market growth. Moreover, several conferences, symposia, seminars, trade fairs, annual events, and workshops are being organized in Europe to create awareness of cell-based assay products.
This report provides a detailed picture of the cell-based assays market. It aims at estimating the size and future growth potential of the market across different segments such as the product & service, application, end user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges