Growing funding and investments in R&D, the increasing prevalence of chronic disorders, increase in drug discovery activities, and the advantages of cell-based assays over alternative technologies are expected to drive the growth of this market.
The market is classified into drug discovery, basic research, ADME studies, predictive toxicology and other applications. The drug manufacturers are mostly confined to using cell-based assays during the drug development process, this drives the drug discovery applications segment and helps the segment hold the largest share of the cell-based assays market in 2017.
The global market is segmented by product, application, end user, and region. By product, the global market is segmented into consumables, instruments, service and software. The consumables segment is expected to lead the global cell based assays market in 2017. The rising prevalence of chronic disorders and technical innovations in the field are key growth factors of this subsegment.
Target Audience for this Report:
The global cell-based assays market is dominated by North America, followed by Europe. North America will continue to dominate the global market in the forecast period. Asia-Pacific, however, is expected to witness the highest CAGR during the forecast period. The growth in this market centered at China, Japan, and India. Increasing investment in healthcare, rise in healthcare expenditure, growth in disposable incomes, and an increase in healthcare insurance coverage are some factors propelling market growth in the APAC region.
Major industry players launched innovative products to improve and maintain their market shares. Players also expanded across geographies via partnerships and acquisitions. Becton, Dickinson and Company (U.S.), Cisbio Bioassays (France), PerkinElmer, Inc. (U.S.), and Danaher Corporation (U.S.) have been identified as the key players in this market.
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