New York, Feb. 20, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cell Based Assays Global Market Report 2023" - https://www.reportlinker.com/p06229171/?utm_source=GNW
The global cell based assays market will grow from $22.58 billion in 2022 to $24.61 billion in 2023 at a compound annual growth rate (CAGR) of 9.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The cell based assays market is expected to grow to $36.22 billion in 2027 at a CAGR of 10.1%.
The cell based assays market consists of sales of reagents, cell lines, microplates, microplate, assay kits, probes and labels.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cell based assays are experimental tools that are designed to study reactions taking place inside the cells. These assays are used to study a mechanism or process of cellular function.
North America was the largest region in the cell based assays market in 2022.Western Europe was the second largest region in the cell based assays market.
The regions covered in the cell based assays market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product and services of cell based assays are consumables, instruments, services, and software.Consumables are products that are used up or depleted throughout their use.
The various instruments used are microplates, microplate readers, high throughput screening, and liquid handling systems and different consumables include reagents and media, cells and cell lines, probes and labels.The several technology types of cell based assays are automated handling, flow cytometry, label-free detection, high-throughput screening, others and are applied for drug discovery, basic research, ADME studies, predictive toxicology, others.
The different end users include pharmaceutical and biotechnology companies, academic and government research institutes, contract research organizations (CRO) and others.
Research with cell based arrays is increasing with evolution and there is a definite need to move to more predictive cellular models for drug discovery in order to control the last-stage drug failures.The pharmaceutical industries’ need to efficiently commercialize drugs in order to overcome expensive failures in the last stages is a driving force in cell-based assay innovation.
Failure of investigational new drug (IND) Phase III clinical trials results in a loss of several hundred million dollars to that company.For instance, according to report by Sigma, the return on investment for pharmaceutical companies could drop to 5% considering the current level of late-stage failures, and is an unacceptable level for most companies.
Major improvements to high-content systems and data analysis from the cell based assays enable scientists to extract a more information about the cellular response and help take informed decisions during drug discovery, and further driving the market for cell based arrays.
High cost of instruments is the major factor restraining the global cell based assays market.High price of the instrumentation will reduce the return on investments (ROI) owing to low adaptation.
For example, Biotek developed HCA (high content analysis) instruments and are expensive and reserved for industrial end-users or core labs which have sufficient capital budgets. This restricts the low budgeted end-users to use cell based assays to its full potential, thereby hampering the growth of the market.
Researchers are inclining towards early phase predictive toxicity testing that prevent late-stage drug failures.Predictive cell toxicity assays are being scaled up to increase screening of compounds in the early phases of drug development, reducing the cost of failure.
For instance, Creative Bioarray, a biotech company provides a range of in vitro toxicity services to check drug-induced toxicities that save time and cost by reducing the chance of failure in earlier stage. These advances will make clinical testing easy and reduce the cost of operation.
In May 2022, Cell Carta, a Canada-based provider of precision medicine laboratory services, acquired next-generation immune-MRM assays from Precision assays for an undisclosed amount.The acquisition will solidify Cell Carta’s position in the proteomics vertical and help it better serve the customers.
Precision Assays is a US-based provider of next-generation targeted proteomics testing solutions.
The countries covered in the cell based assays market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The cell based assays market research report is one of a series of new reports that provides cell based assays market statistics, including cell based assays industry global market size, regional shares, competitors with a cell based assays market share, detailed cell based assays market segments, market trends and opportunities, and any further data you may need to thrive in the cell based assays industry. This cell based assays market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06229171/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
