Market Research Report
Cell-based Assay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
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|Cell-based Assay Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: June 10, 2019||Content info: 104 Pages||
The global cell-based assay market reached a value of US$ 14 Billion in 2018. The market is currently being catalysed by a number of factors, this includes rising investments in research and development, adoption of high throughput screening methods, increasing prevalence of various chronic diseases, growth in drug discovery activities, and the various advantages that cell-based assays offer over alternative technologies. The market value is further expected to reach more than US$ 23 Billion by 2024, exhibiting a CAGR of 8.6% during 2019-2024.
Cell-based assays refer to any experiment that use live cells. The basic techniques include a variety of assays that can be used for the purpose of measuring cell toxicity, proliferation, motility as well as production of a particular cellular product and cellular morphology. Cell-based assays provide a closer representation of the real life model since it employs live cells during experimentation. Cell-based assays have grown to become a versatile tool in healthcare research and development, particularly in the experiments which are designed to understand functionalities of specific cells like antibodies or drug efficacy on a group of cells.
There has been a significant increase in R&D funding by various public and private organisations so as to develop better and safer drugs. Moreover, technological advancements in cell-based assays have enabled researchers to start using this technology for drug discovery and toxicology studies. Another major factor catalysing the growth of the market is the rising prevalence of lifestyle diseases such as arthritis, diabetes, epilepsy, cancer, cardiovascular diseases, etc. which still have large unmet needs and have led to continuous investments in R&D. In addition, an increase in the adoption of the cell-based assay techniques for high throughput screening methods like toxicity studies, drug screening, in vitro testing, etc. are further driving this market.