What are the Global Growth Factors of 3D Cell Culture Market?
The growth of the 3D Cell Culture Market is attributed to the rising focus on developing alternative methods for animal testing, funding initiatives from government and private investors, technological advancements and product launches, and growing awareness.
What The Experts Says about the Market Growth?
The 3D cell culture market is expected to reach $1,720.3 Million by 2022 from USD 682.8 Million in 2017, at a CAGR of 20.3%.
By applications, the 3D cell culture market is segmented into cancer and stem cell research, drug discovery and toxicology testing, and tissue engineering and regenerative medicine. The cancer and stem cell research segment is expected to register the highest CAGR during the forecast period. The increasing incidence of cancer and significant funding initiatives for cancer research from government as well as private organizations are supporting the growth of this application segment.
The scaffold-based 3D cell culture products segment is expected to account for the largest share of the 3D cell culture market. The high growth in this segment is attributed to the ability of scaffold-based products to mimic in vivo conditions, thus driving their adoption among end users.
The global market, by applications, is segmented into cancer and stem cell research, drug discovery and toxicology testing, and tissue engineering & regenerative medicine. The cancer and stem cell research segment is estimated to account for the largest market share in 2017. Growth of this application segment is attributed to increasing incidence of cancer and significant funding initiatives for cancer research from government as well as private organizations.
Based on end users, the market is segmented into pharmaceutical & biotechnology companies and research institutes. In 2017, pharmaceutical and biotechnology companies are expected to form the largest end-user segment. The presence of a large number of pharmaceutical and biotechnology companies, increasing R&D spending in these companies, and growing focus on alternative testing models instead of animal techniques are the key drivers for this end-user segment.
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North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to factors such as increasing incidence of cancer, presence of a well-established pharmaceutical and biotechnology industry, significant support from the government in the form of funds and grants, availability of technologically advanced products, and presence of key market players.
Key Market Players:
Some of the players in the 3D cell culture market include Thermo Fisher (US), Corning (US), Lonza (Switzerland), Merck (Germany), ReproCELL (Japan), and InSphero (Switzerland). The other players operating in this market include Global Cell Solutions (US), Synthecon (US), 3D Biotek (US), Kuraray (Japan), Hamilton Company (US), Mimetas (Netherlands), Emulate (US), Nano3D Biosciences (US), and QGel (Switzerland).
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