The cell-based assays market is projected to reach USD 22.0 billion by 2025 from USD 14.9 billion in 2020, at a CAGR of 8.1% during the forecast period. The growing preference for cell-based assays in drug discovery, increasing funding for cell-based research, and growth in the number of drug discovery activities are the key factors supporting the growth of the market.
Consumables dominated the market in 2019. The large share of this segment can be attributed to the extensive use and repeated purchase of consumables by pharmaceutical and biopharmaceutical companies and the rising number of preliminary studies for the development of therapeutics.
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Due to the pandemic, companies have scaled up R&D efforts to develop a vaccine and drugs against the SARS-CoV-2 virus. Vaccine-related research activities in pharmaceutical & biotechnological companies, research centers, and academic research institutes are considered essential and have been largely unaffected in operations and output.
Currently, a number of vaccines or antiviral drugs for COVID-19 have been approved or are under development, and patients are currently treated symptomatically. For both vaccines and therapeutics, the antibodies produced are tested for their functional efficacy to neutralize the target virus.
Cell-based assays are employed to shorten the time and increase the throughput needed for these assays. This has significantly increased the demand for cell-based assays to provide an early indication of the toxicity characteristics of the drug candidates.
Cell-based assays are key components in the drug development process. Cell-based assays have several advantages over in vitro biochemical assays. They offer consistent tissue-specific responses in a biologically relevant microenvironment as opposed to biochemical assays.
Additionally, the physiological relevance of cell-based assays, as well as their ability to provide efficient, cost-effective, and accelerated drug discovery solutions, has also fueled their greater adoption among end users.