Cell-based assays are techniques that are used to study biological processes in live cells. They help identify toxicity and efficacy of drug candidates during preclinical research. Cell-based assays provide researchers with a predictive model that closely resembles in vivo conditions, helping identify promising drug candidates at an early stage and reduce costs associated with late-stage drug failures.
The global Cell-based Assay Market is estimated to be valued at US$ 1389.5 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for cellular analysis in drug discovery and development is the major trend propelling the growth of the cell-based assay market. Cell-based assays are widely used during various stages of preclinical research to study the effects of potential drug candidates on live cells. They help identify toxicity and efficacy of drug candidates at a very early stage, enabling researchers to select only the most promising candidates for further clinical testing. This significantly reduces costs for pharmaceutical companies associated with late-stage drug failure. With growing R&D investments in drug discovery and rising complexity of diseases, the use of cell-based assays is increasing as they provide a more predictive model compared to other assay methods. Key players in the market are focusing on developing novel cell-based assay products and services to capitalize on this growing demand and boost their market share.
SWOT Analysis
Strength: Cell-based Assay has high sensitivity and specificity in drug discovery. It allows assessment of potential toxicity of drug candidates.
Weakness: Assays are complex and time consuming processes requiring specialized technical skills. Cost of reagents and instruments is high.
Opportunity: Rising R&D expenditure in pharmaceutical and biotechnology sectors driving demand. Growing focus on personalized medicine also opens new areas of application.
Threats: Alternate drug discovery technologies like AI and bioinformatics pose competition. Stringent regulations on animal testing increases complexity of product approvals.
Key Takeaways
The global Cell-based Assay market is expected to witness high growth. Regional analysis comprises North America dominates the market currently due to presence of major pharmaceutical companies and rising biotechnology R&D investments. Asia Pacific region is expected to be the fastest growing market owing to increasing government funding for life science research.
Key players operating in the Cell-based Assay market are DiscoverX Corporation, Becton, Dickinson and Company, cell Signaling Technology, Inc., Becton, Danaher Corporation, Thermo Fisher Scientific, Inc., Cisbio Bioassays, Merck & Co., and PerkinElmer, Inc. and others. Cell-based assays help accelerate drug discovery process with miniaturization, enhanced flexibility and high-throughput screening capabilities compared to alternatives. Key market players are focusing on new product launches and geographic expansion to strengthen market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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