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(Medical-NewsWire.com, July 17, 2017 ) According to the report "Cell-based Assays Market by Product (Reagents, Assay Kits, Microplates, Cell Lines, Service), Application (Research, Drug Discovery, ADME Studies, Toxicology), End User, and Region - Global Forecast to 2022", The cell-based assays market is expected to reach USD 19.92 Billion by 2022 from USD 13.34 Billion in 2017, at a CAGR of 8.4% during the forecast period from 2017 to 2022. Factors driving the growth of this market are the increasing incidence of chronic disorders, growing availability of funds for research, and increase drug discovery research by the biopharmaceutical industries as well as contract research organizations.
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Consumables segment is expected to dominate the market in 2017
On the basis of products, the cell-based assays market is segmented into consumables, instruments, services, and software. The consumables segment is expected to dominate the market in 2017. The increasing adoption of cell-based consumables by the key end users such as biopharmaceutical industries, contract research organizations and academic and research institutions is an important driver of the consumables segment in this market.
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Drug discovery is expected to command the largest market share in 2017
The cell-based assays market is segmented by applications into drug discovery, basic research, ADME studies, predictive toxicology and other segments. In 2017, the drug discovery segment is expected to account for the largest share of the cell-based assays market. The use of cell-based assays over traditional techniques for drug development and the clinical trial process across the globe is one of the major drivers for the growth of this segment.
North America to account for the major market share in 2017
Based on region, the cell-based assays market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to dominate the cell-based assays market in 2017. The large market share of the region is credited to the growing availability of funds for research and the increase in drug discovery activities in North America.
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Key players in the cell-based assays market include Merck KGaA (Germany), Becton, Dickinson and Company (U.S.), PerkinElmer Inc. (U.S.), Promega Corporation (U.S.), Danaher Corporation (U.S.), GE Healthcare (U.K), Thermo Fisher Scientific Inc. (U.S.), Cell Signaling Technology, Inc. (U.S.), BioTek Instruments, Inc. (U.S.), Lonza Group (U.S.), ProQinase GmbH (Germany), Charles River Laboratories, Inc (U.S.), Cisbio Bioassays (France), Miltenyi Biotec (Germany), Cell Biolabs, Inc. (U.S.), DiscoverX Corporation (U.S.), Marin Biologic Laboratories (U.S.), Biospherix, Ltd (U.S.), Essen BioScience Inc. (U.S.), Cell Biologics Inc. (U.S.), BioAgilytix Labs. (U.S.), Enzo Life Sciences, Inc. (Switzerland), Aurelia Bioscience Ltd. (U.K. ), Selexis SA (U.S.), and QGel SA (Switzerland).
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