3D Cell Culture Market | Growth Trends and The Largest Revenue Generating Industry Segments
The growth of 3d cell culture market is driven mainly by the increasing focus on developing alternatives to animal testing, growing focus on personalized medicine, increasing incidence of chronic diseases, and the availability of funding for research. On the other hand, the lack of infrastructure for 3D cell-based research and the high cost of cell biology research are expected to restrain the growth of this market during the forecast period.
What the market looks like?
The global 3D cell culture market size is projected to reach USD 1,846 million in 2024 from USD 892 million in 2019, at a CAGR of 15.7%.
Cancer and Stem Cell Research Application:
The cancer & stem cell research segment accounted for the largest share of 3d cell culture market in 2018 and is expected to register the highest CAGR during the forecast period. The increasing prevalence of cancer and significant funding for cancer research are major factors driving the growth of this application segment.
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Pharmaceuticals and Biotechnology Industries:
Pharmaceutical & biotechnology companies accounted for the largest share of the market in 2018. The presence of a large number of pharmaceutical & biotechnology companies, an increase in R&D spending in these companies, and the growing preference for alternative testing models over animal techniques are the key market drivers in this end-user segment.
North America and Europe are The Land of Opportunities for Players in 3D Cell Culture Market:
North America commanded the largest share of the market due to the increasing incidence of cancer and the presence of a well-established pharmaceutical & biotechnology industry. However, the market in Europe is expected to grow at the highest CAGR during the forecast period. The growth of the market in Europe is attributed to the growth of its pharmaceutical and biotechnology industry, recent commercialization of microfluidics-based products, the increasing presence of major market players, and a large number of research activities conducted in the region.
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Key Players in 3D Cell Culture Market:
Thermo Fisher Scientific (US), Corning Incorporated (US), Merck KGaA (Germany), Lonza AG (Switzerland), REPROCELL Incorporated (Japan), TissUse (Germany), InSphero (Switzerland), Synthecon (US), 3D Biotek (US), CN Bio (UK), Hamilton Company (US), MIMETAS (Netherlands), Emulate (US), Hµrel Corporation (US), QGel SA (Switzerland), SynVivo (US), Advanced BioMatrix (US), Greiner Bio-One International (Austria), and PromoCell (Germany).