Market Size of Global Cell-Based Assay Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 6.52 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cell-Based Assay Market Analysis
The cell-based assay market is expected to register a CAGR of 6.52% over the forecast period.
COVID-19 had a significant impact on the growth of the market. the cell-based assays are useful to discover inhibitors of the COVID-19 virus infection. According to the article titled "A cell-based assay to discover inhibitors of SARS-CoV-2 RNA dependant RNA polymerase" published in June 2021 cell-based assay is used to evaluate the efficacy of nucleotide analog compounds against SARS-CoV-2 RdRp and the assay is used to assess their tolerance to viral exoribonuclease-mediated proofreading. Thus COVID-19 propelled the demand for cell-based assays during the pandemic period.
The cell-based assay market is expected to show rapid growth due to the rising prevalence of chronic diseases and lifestyle disorders, increasing investments in R&D for drug discovery, and the rise in technological advancements in cell-based methodologies.
The rising prevalence of chronic diseases and lifestyle disorders, such as cancer, cardiovascular, diabetes, and neurological disorders is one of the primary factors fueling the market growth. The report published by International Agency for Research on Cancer (IARC) in December 2020 that the global cancer burden has risen to 19.3 million cases. Additionally, according to estimates from the International Agency for Research on Cancer (IARC), by 2040, the global burden of cancers is expected to grow to 27.5 million new cancer cases. And thus, due to the high incidence of cancer around the world, the demand for effective therapy or treatment is increasing which is expected to drive the growth of the cell-based assay market during the forecast period.
According to the data published by the European Heart network in 2021 reported that in the European Union more than 60 million people live with cardiovascular disease and close to 13 million new cases of cardiovascular diseases are diagnosed every year. Thus, the rise in chronic diseases leads to demand growth for cell-based assays for new drug discoveries, making it a vital factor for market growth. In addition, the demand for cell-based assays has increased significantly owing to a surge in cell-based applications in drug discovery and the rise in technological advancements in cell-based assay methodologies.
Additionally, innovative product launches by key market players are expected to drive the growth of the market. For instance, in May 2021, Viskol launched DILI 3D cell culture assay services using corning-qualified 3D PHH spheroid assay-ready plates.
Thus the above-mentioned factors are expected to drive the growth of the market during the forecast period. However, high maintenance and operational costs are expected to hinder the growth of the market.
