Cell Based Assays Market worth $24.3 billion by 2029
The report "Cell Based Assays Market by Offering (Reagents, Assays Kits, Cell Lines, Microplates, Probes, Labels, Instruments & Software), Technology (Flowcytometry, HTS), Application (Drug Discovery (Toxicity, Pharmacokinetics), Research) - Global Forecast to 2029", is projected to reach USD 24.3 billion by 2029 from an estimated USD 17.3 billion in 2024, at a CAGR of 7.1% during the forecast period. Factors contributing to the growth of the global market include increasing need of drug discovery, growing research and development funding and investments, advancements in cancer research, and rising focus on personalized medicine. Also, integration of AI with cell-based research activities are projected to support the growth of cell-based assays market. However, high cost of cell-based assays products is expected to hinder market growth. Technical challenges associated with cell-based assays might create hurdles to the growth of cell-based assays market.
Browse 200 market data Tables and 50 Figures spread through 350 Pages and in-depth TOC on "Cell Based Assays Market by Offering (Reagents, Assays Kits, Cell Lines, Microplates, Probes, Labels, Instruments & Software), Technology (Flowcytometry, HTS), Application (Drug Discovery (Toxicity, Pharmacokinetics), Research) - Global Forecast to 2029"
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The consumables segment accounted for the largest share of the offering segment in the cell-based assays market in 2023.
Based on offering, the cell-based assays market is segmented into consumables, instruments, software, and services. The consumables segment is further divided into reagents, assay kits, microplates, cell lines, probes & labels, and other consumables. The consumables segment dominated the market in 2023. The largest share of the segment is attributed to the increasing demand for high-quality reagents to ensure reliable and reproducible results. Additionally, growing focus on development of advanced cellular therapies is anticipated to promote the segment growth.
The pharmaceutical & biopharmaceutical companies segment accounted for the major market share of the end user segment in the cell-based assays market in 2023.
The pharmaceutical & biopharmaceutical companies dominated the cell-based assays market in 2023. The growth of the segment is primarily attributed to rising demand drug discovery and development due to rising prevalence of cancer. The increasing number of research and development activities for the development of new pharma and biotech drugs and therapies is expected to propel the segment growth. Additionally, growing focus on personalized medicine is anticipated to support the segment growth. Furthermore, increasing investments and fundings for cell-based research is expected to promote the segment growth in coming years.
The Asia Pacific region is expected to register highest CAGR during the forecast period of 2024-2029.
Based on the region, the cell-based assays market is segmented into six major regions: North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. The Asia Pacific is anticipated to register the fastest growth in the cell-based assays market owing to the increasing focus on the development of cell-based therapies, high government investments & funding for R&D, and the booming healthcare sector. Moreover, increasing focus on modernization of healthcare infrastructure and growing adoption of advanced technologies for research and clinical applications are expected to support the growth of cell-based assays in Asia Pacific region.
Key players in the cell-based assays market include BD (US), Thermo Fisher Scientific Inc. (US), Danaher Corporation (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Lonza (Switzerland), Charles River Laboratories (US), Bio-Rad Laboratories, Inc. (US), Revvity (US), Sartorius AG (Germany), Corning Incorporated (US), Promega Corporation (US), Cell Signaling Technology, Inc. (US), Eurofins Scientific (Luxembourg), Enzo Biochem, Inc. (US), Carna Biosciences, Inc. (Japan), Intertek Group plc (UK), BICO (Sweden), Cell Biolabs, Inc. (US), Reaction Biology (US), AAT Bioquest, Inc. (US), Pestka Biomedical Laboratories, Inc. (US), Neuromics (US), BPS Bioscience, Inc. (US), BellBrook Labs (US), Profacgen (US), BMG LABTECH (Germany), Hanugen Theraputics (India), Altogen Labs (US), and BioAgilytix (US).
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