Dublin, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The "Cell-Based Assays Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Cell-Based Assays Market is forecast to surpass US$18 billion in 2024.
Advancements in Biotechnology Industry Projected to Boost Industry Growth
Advances in biotechnology, specifically in genomics, proteomics, and cell biology, are playing a pivotal role in propelling the demand for sophisticated cell-based assays. The convergence of these technological advancements has opened new avenues for researchers, enabling them to delve deeper into the intricacies of cellular functions, signaling pathways, and complex molecular interactions. For instance, in 2023, biotechnology contributed $304 billion to drug revenues, demonstrating a consistent upward trend over recent years.
Projections indicate that this figure is anticipated to climb to $505 billion by 2026. In comparison, the conventional drug market is expected to reach a value of $681 billion in the same year. In addition, the global biotechnology sector experienced the prevalence of oncology, holding a significant share of around 39%. This highlights the substantial attention and investment directed toward the advancement of cancer treatments and therapies.
The field of genomics has witnessed remarkable progress with the advent of high-throughput sequencing technologies, allowing researchers to analyze entire genomes with unprecedented speed and precision. This wealth of genetic information has provided a foundation for understanding the molecular basis of diseases and identifying potential therapeutic targets. In tandem with genomics, cell-based assays capitalize on this genetic knowledge to study how specific genes and mutations influence cellular functions, paving the way for more targeted and personalized drug development strategies.
High Cost Associated with Cell-Based Assays Likely to Challenge Industry Growth
The development and deployment of sophisticated cell-based assays impose a considerable financial burden, acting as a formidable barrier for smaller research institutions and laboratories grappling with limited budgets. The principal contributors to these substantial upfront costs encompass the acquisition of advanced equipment, specialized reagents, and the maintenance of skilled personnel for assay design and execution.
State-of-the-art technologies, such as high-content imaging systems and automated liquid handling platforms, come with hefty price tags, making them financially daunting for smaller institutions. The demand for specialized reagents, tailored to the intricacies of sophisticated assays, further escalates overall costs.
Key Market Dynamics
Market Driving Factors
- Increased Need of Cell-Based Assays in Drug Discovery and Development
- Advances in Biotechnology
- Growing Demand for Precision Medicine Impacting the Cell-Based Assays Market Positively
- Increasing Funding for Cell-based Research
- Rising Prevalence of Chronic Diseases
Market Restraining Factors
- High Cost Associated with Cell-Based Assays
- Technical Complexity of Cell-Based Assays
- Lack of Standardization
Market Opportunities
- Growing Adoption of Label-Free Cell-Based Assays
- 3D Cell Culture Models as a Cornerstone of Advanced Assays
- High-Throughput Screening Driving Demand for Cell-Based Assays
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, this new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising Cell-Based Assays prices and recent developments.
Segments Covered in the Report
Product
- Instruments
- Microplates
- Microplate Reader
- Liquid Handling System
- Incubator
- Microscope
- Others
- Consumables
- Reagents
- Assay Kits
- Cell Lines
- Probes & Labels
- Others
- Software
- Services
Application
- Drug Discovery
- Basic Research
- ADME Studies
- Toxicology
- Others
End-User
- Pharmaceutical & Biotechnology Companies
- Academic Institutes
- CROs
- Others
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 24 leading national markets.
The report also includes profiles for the following leading companies:
- Agilent Technologies Inc.
- Becton, Dickinson and Company
- BioAgilytix Labs LLC
- Bio-Rad Laboratories
- BioVision Inc.
- Charles River Laboratories
- Cisbio (Revvity)
- Danaher Corporation
- DiscoverX (Eurofins)
- F. Hoffmann-La Roche Ltd
- GE HealthCare
- InSphero
- Merck KGaA
- Thermo Fisher Scientific Inc.
In summary, this page report provides you with the following knowledge:
- Revenue forecasts to 2034 for Cell-Based Assays Market, 2024 to 2034 Market, with forecasts for product, application and end-user, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for five regional and 24 key national markets - See forecasts for the Cell-Based Assays Market 2024 to 2034 in North America, Europe, Asia-Pacific, Latin America, and MEA. Also forecasted is the market in the US, Canada, Mexico, Brazil, Germany, France, UK, Italy, China, India, Japan, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 15 of the major companies involved in the Cell-Based Assays Market 2024 to 2034.
For more information about this report visit https://www.researchandmarkets.com/r/8izky7
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