The global cell-based Assay market size is expected to reach USD 32.23 billion by 2030, according to a new study by Polaris Market Research. The report “Cell-based Assay Market Share, Size, Trends, Industry Analysis Report, By Product (Consumable, Assay kits, Cell lines); By Type (Drug Discovery, Basic Research; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides an analysis of future market growth.
The growing demand for cell-based assays in the biotechnology and pharmaceutical sector for drug development applications is expected to drive market growth. Furthermore, increasing penetration of the many non-curable diseases where vaccine development and drug discovery is one of the major factors driving demand.
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In addition, the growing pharmaceutical needs to develop efficient drugs and vaccines across developing economies such as India, Brazil, Mexico, Japan, and China is likely to positively impact the demand for the product over the coming years. However, growing demand for the market to experiment on a live cell rather than using biochemical assay techniques to get accurate responses are anticipated to complement the growth of the market.
The COVID-19 pandemic had a positive impact on the demand for cell-based assays as the ongoing rise in infection created lucrative opportunities to develop a vaccine to overcome the infection, which led to R&D investment to develop new innovative research activities to develop cost-efficient drugs. However, as industrial activities resumed in 2021, the demand for cell-based assay rose as many biopharma companies collaborated to find solutions for the chronic illness, which positively impacted product demand.
Cell-based assay Market Report Highlights
Polaris Market Research has segmented the Cell-based assay market report based on Product, type, end-use, and region:
Cell-based Assay, Product Outlook (Revenue - USD Billion, 2018 - 2030)
Cell-based Assay, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Cell-based Assay, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Cell-based Assay, Regional Outlook (Revenue - USD Billion, 2018 - 2030)