Cell-based Assays Market Expected to Reach $22.0 billion by 2025
The growing preference for cell-based assays in drug discovery, increasing funding for cell-based research, and growth in the number of drug discovery activities are the key factors supporting the growth of the market. The cell-based assays market is projected to reach USD 22.0 billion by 2025 from USD 14.9 billion in 2020, at a CAGR of 8.1% during the forecast period. However, the growth of the market is likely to be restrained by factors such as the high cost of instruments, restrictions on reagent use, and the lack of infrastructure for cell-based research in emerging economies. Due to the pandemic, companies have scaled up R&D efforts to develop a vaccine and drugs against the SARS-CoV-2 virus. Vaccine-related research activities in pharmaceutical & biotechnological companies, research centers, and academic research institutes are considered essential and have been largely unaffected in operations and output. The players operating in the market are altering their long-term and short-term growth strategies by tapping into opportunities prevalent in the research market by developing innovative products to combat the pandemic. The increased demand for research on COVID-19 has created a large scope for cell-based 45 assays in viral infection research, vaccine development, and overall drug discovery for both researchers and laboratories. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=119917269 Cell-based assays are employed to shorten the time and increase the throughput needed for these assays. This has significantly increased the demand for cell-based assays to provide an early indication of the toxicity characteristics of the drug candidates. Cell-based assays are key components in the drug development process. Cell-based assays have several advantages over in vitro biochemical assays. They offer consistent tissue-specific responses in a biologically relevant microenvironment as opposed to biochemical assays. It is also not possible to prepare or purify every target for biochemical measurement, which is a major factor limiting the applications of biochemical assays. As a result, pharmaceutical & biotechnology companies as well as CROs are replacing biochemical assays with cell-based assays for their lead identification and optimization processes in drug discovery. The prominent players operating in the cell-based assays market are Danaher Corporation (US), Thermo Fisher Scientific (US), Merck KGaA (Germany), Becton, Dickinson and Company (US). Research Developments Analysis 1. In 2020, Danaher Corporation (US) launched ImageXpress Micro-confocal High-content Imaging System. 2. In 2020, Thermo Fisher Scientific (US) acquired Phitonex, Inc. (US). The acquisition of spectral dye platform manufacturer Phitonex will enable Thermo Fisher to offer greater flow cytometry and imaging multiplexing capabilities in protein and cell analysis research. 3. In 2020, Charles River Laboratories entered into a multi-year drug discovery collaboration with Karuna Therapeutics, a US-based CRO, to expand its drug discovery capabilities. 4. In 2020, Danaher Corporation completed the acquisition of GE Healthcare’s biopharma business and was renamed as Cytiva. 5. In 2018, Lonza Group AG (Switzerland) established its Collaborative Innovation Center in the new Life Science Park on the outskirts of Haifa, Israel. This center focuses on the R&D projects of Lonza’s Pharma Biotech & Nutrition segment.