Cell Viability Assays and Consumables Market to See 8.3% Annual Growth Through 2023

Industry Demand Driven by Increasing Number of Potential Biomarker Candidates for Cell-Based Assays

May 06, 2019

WELLESLEY, Mass., May 6, 2019–A growing number of potential biomarker candidates for cell-based assays and the growing prevalence of infectious and chronic diseases is helping to boost the cell viability assays and consumables market, according to a report by BCC Research, “Cell Viability Assays and Consumables: Global Markets.”

The market expects to see a compound annual growth rate (CAGR) of 8.3% through 2023, when it could be worth $4.1 billion.

Major players in the market include Abnova (4133), Becton, Dickinson and Co. (BDX), Bio-Rad Laboratories (BDX), Corning (GLW), Danaher (DHR), GE Healthcare (GE) and Merck (MRK).

Research Highlights

  • By product, the market is led by consumables, which had a 2018 value of $2.4 billion, followed by instruments at $1.6 billion.
  • North America leads the global assay kits market by size, with a 2018 value of $292 million, followed by Europe at $231 million and the Asia-Pacific region at $220 million.
  • In Europe, growth in the cell viability assays market is led by stem cell research, which expects a CAGR through 2023 of 9%, followed by drug discovery and development at 8.1% and other applications at 7.5%.

“A surge in the number of potential biomarkers candidates for cell-based assays, growing incidence of infectious and chronic diseases and increasing focus on developing cell-based therapeutics are some of the major factors that are expected to promote the growth of global cell viability assays market,” notes report author Vijay Laxmi. “In addition, factors such as increasing healthcare expenditures and the global aging population are also providing traction for the global cell viability assays market growth.”

Market Players Must Navigate Complicated Regulatory Frameworks

Regulations play an important role in the market and when introducing a new product, companies must fulfil the minimum standards set by the medical device regulating authority in the country they plan to sell the product. The lack of common industry standards, however, means a product certified in one country may not be fit for certification in another. A number of international organizations, such as the World Health Organization, have advocated for common international standards, but in the meantime, market players will need to heed individual country standards.

Editors/reporters requesting analyst interviews should contact Sarah Greenberg at press@bccresearch.com.

Cell Viability Assays and Consumables: Global Markets( BIO181A )
Publish Date: Apr 2019    

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