Cell-based assays involve live cell analysis and are used to study and analyze cellular components, signalling pathways, toxicity, and disease progression. These assays evaluate cell morphology, proliferation, cytotoxicity, cell signaling pathways, and protein-protein interactions. They find wide application in drug discovery, biopharmaceutical research, basic research, and disease pathology. Advancement in high-throughput screening technologies have further expanded the scope of cell-based assays.
The Global Cell-based Assay Market is estimated to be valued at US$ 1389.5 Mn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.
Key Takeaways
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. Advancements in high-throughput screening platforms, miniaturization of assays, and multi-parametric readouts have boosted the cell-based assays market. The increasing RD expenditure in pharmaceutical and biotechnology companies and growing focus on personalized medicine present significant growth opportunities in the market. Technological advancements such as high-throughput screening, label-free detection, microfluidics-based assays, and automation have increased throughput and reduced costs, thereby propelling the cell-based assays market.
Market drivers
The rising global incidence of diseases such as cancer and infectious disease is a major market driver. Increased funding for cell-based research from both private and government bodies is also fueling market growth. Growing pharmaceutical RD expenditure and stringent regulations for drug safety and efficacy evaluation have increased the adoption of cell-based assays in the drug discovery process. Continuous technological advancement in miniaturization, automation, high-throughput screening, and multiplexing will further support the market expansion over the forecast period.
Current Challenges in Cell-based Assay Market
The cell-based assay market has been growing at a steady pace over the past few years. However, there are some challenges that are hindering the overall growth potential of this market. Some of the major challenges include high costs associated with cell-based assay equipment and reagents, stringent regulations for life science research, and lack of skilled professionals. Cell-based assays require expensive equipment for cell handling, preparation, culture, and detection. The reagents used for cell preparation and detection also add to the overall costs. Following stringent regulations for research activities increases the compliance burden, resulting in additional costs. There is also a shortage of skilled professionals who are trained to conduct different types of cell-based assays effectively. Addressing these challenges can help drive faster growth in the cell-based assay market.
SWOT Analysis
Strengths: Cell-based assays provide more biologically relevant results compared to other in vitro techniques. They enable high-throughput screening of drug candidates.
Weaknesses: Cell-based assays are time-consuming and expensive to conduct. Maintaining cell viability can be challenging.
Opportunity: Growing RD investments in pharmaceutical and biotechnology industries is spurring demand. Technological advancements are making assays more affordable and higher-throughput.
Threats: Strict regulations for research can delay projects. Intense competition among market players impacts pricing.
Geographical Regions
North America currently accounts for the largest share of the global cell-based assay market, both in terms of value and volume. This is attributed to the presence of major pharmaceutical and biotechnology companies conducting extensive RD. Growing biologics sectors is also propelling regional market growth. Asia Pacific is poised to be the fastest growing regional market over the forecast period owing to increasing government investments in life science research and expanding pharmaceutical industry in countries such as China, India, and South Korea.
The cell-based assay market in North America dominates in terms of value proportion and is expected to continue its dominance form 2023 to 2030. This is owing to increasing investments in drug discovery research, expanding biotechnology sector, rising focus on developing personalized medicines, and growing stem cell research activities in the region. However, Asia Pacific market is projected to witness highest CAGR during the forecast period due to growing pharmaceutical manufacturing and relaxations in regulatory policies supporting life science research in India and China along with rising healthcare expenditure. Higher economic growth and significant investments in building state-of-art research infrastructure are attracting global market players to expand their presence in emerging Asian countries. Overall demand growth of Asia Pacific is expected to help cell-based assay market grow at a faster pace.