Published Date: 31-Oct-2022
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According to a new report, published by KBV research, The Global Cell-based Assays Market size is expected to reach $24.9 billion by 2028, rising at a market growth of 8.2% CAGR during the forecast period.
The Drug Discovery market is leading the Global Cell-based Assays Market by Application in 2021; thereby, achieving a market value of $11.9 billion by 2028. This expansion can be attributed to the increasing need for novel therapeutic medications all over the world, which are used in the treatment of a wide variety of ailments. An increase in the number of research and studies for therapeutic drug development and competitive pressures for FDA approvals among market competitors are both factors that are contributing to the expansion of the drug discovery market sector.
The Academic & Research Institutes market is experiencing a CAGR of 8.4% during (2022 - 2028). This expansion can be ascribed to a number of factors, including the growing use of these assays in cell-based research as well as the development of innovative assay-based diagnostics. In addition, cell-based assays foster research in a variety of fields, including cancer, stem cells, immunology, and immunology, amongst others. Due to these factors, the growth of this segment is being accelerated.
The Reagents market is anticipated to witness a CAGR of 9% during (2022 - 2028). Any chemical reaction requires the use of something called a reagent. It is a very integral part of any chemical experiment. A chemical or compound that has the ability to aid a reaction is referred to as a reagent. Reagents are utilized in the majority of tests that are performed. This encompasses a wide range of diagnostic tools, such as blood glucose tests, pregnancy tests, and the majority of COVID-19 test kits.
The North America market dominated the Global Cell-based Assays Market by Region in 2021; thereby, achieving a market value of $9.9 billion by 2028. The Europe market is poised a CAGR of 7.7% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., Corning Incorporated, Charles River Laboratories International, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., Lonza Group AG, Merck Group, Promega Corporation and Thermo Fisher Scientific, Inc.
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