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(Medical-NewsWire.com, March 24, 2020 ) The report "Cell-based Assay Market by Product (Reagents, Microplates, Cell Lines, Assay Kits, Instruments, Services), Application (Drug Discovery, Research), End User (CROs, Biopharma Companies, Research Institutes), Geography - Global Forecast to 2024" The cell-based assays market is projected to reach USD 18.9 billion by 2024 from USD 13.9 billion in 2019, at a CAGR of 6.3%.
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“Consumables dominated the cell-based assays market in 2019”
By product, the cell-based assays market is segmented into consumables, instruments, and services. In 2019, the consumables segment accounted for the largest share of the market. The large share of this product segment can be attributed to the increasing volume of R&D studies in pharmaceutical and biotechnology companies resulting in high demand for consumables.
“Drug Discovery held the largest share of the applications market in 2019”
Based on applications, the cell-based assays market is segmented into drug discovery, basic research, and other applications such as quality checks among others. In 2019, the drug discovery segment accounted for the largest share of the cell-based assays market. The large share of this segment can be attributed to the increasing R&D investments and technological advancements in supportive processes such as high throughput screening and 3D cell cultures.
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Key Players
Thermo Fisher Scientific, Inc. (US), Danaher Corporation (Beckman Coulter, Inc.) (US), Becton, Dickinson and Company (US), GE Healthcare (US), Merck KGaA (Germany), Lonza Group (Switzerland), PerkinElmer, Inc. (US), Charles River Laboratories, Inc. (US), Cell Signaling Technologies (US), Cisbio (US), Cell Biolabs, Inc. (US), and Promega Corporation (US).
Thermo Fisher Scientific is the leading player in the cell-based assays market. The company offers a range of assay kits and cell lines used in cell-based assays. The company‘s large share in this market can be attributed to its extensive product portfolio and strong sales & distribution network. Thermo Fisher focuses on developed and emerging markets in order to generate a significant amount of its revenue. The company registered 57.7% of its total revenue from the US and China together. In order to maintain its leading position in the market, the company also invests 3–5% of its total revenue on R&D.
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