Published Date: 20-Jan-2023
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According to a new report, published by KBV research, The Global Cell Viability Assays Market size is expected to reach $2.5 billion by 2028, rising at a market growth of 9.7% CAGR during the forecast period.
The Consumables segment acquired maximum revenue share in the Global Cell Viability Assays Market by Product in 2021 thereby, achieving a market value of $1.4 billion by 2028. This is because of the usage of consumables in the numerous stem cell, diagnostic and pharmaceutical, and biopharmaceutical research applications. Also, many key players are offering a wider variety of cell viability assay reagents that are non-toxic and usage ready while ensuring instant high-value results.
The CROs & CMOs segment is showcasing a CAGR of 9.9% during (2022 - 2028). The growth is result of the collaborations between the CROs & CMOs, and pharmaceutical companies to meet various needs. With these joint efforts, there is the possibility of improving process efficiency, reducing market time, and cost-cutting. As a result, the use of cell viability assays for various applications, like drug discovery and development, is expected to increase, thus fueling segment growth.
The Stem Cell Research segment is leading the Global Cell Viability Assays Market by Application in 2021 thereby, achieving a market value of $1 billion by 2028. This is because the stem cell therapy has evolved and become a promising scientific research area. To aid the research, many companies are creating more enhanced novel instruments. These innovations decrease error-prone and manual steps while drastically reducing the turnaround time, which helps analyze and enumerate viable cells.
The North America market dominated the Global Cell Viability Assays Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $879.6 million by 2028. The Europe market is exhibiting a CAGR of 9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 10.7% 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 Thermo Fisher Scientific Inc., Agilent Technologies, Inc., Bio-Rad Laboratories Inc., Merck KGaA, Becton, Dickinson and Company, PerkinElmer Inc., Promega Corporation, Biotium, Creative Bioarray, and Abcam Plc.
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