The scope of the report covers detailed information
regarding the major factors, such as drivers, restraints, challenges, and
opportunities, influencing the growth of the 3d
cell culture market. A detailed analysis of the key industry players has
been done to provide insights into their business overviews; solutions and
services; key strategies; new product launches; mergers; and partnerships,
agreements, and collaborations; and recent developments associated with the
market.
Expected
Market Revenue Growth:
The 3D Cell Culture Market is projected to reach USD 1,846 million by 2024 from USD 892 million in
2019, at a CAGR of 15.7%.
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Key
Factors Driving Market Growth:
The
growth in 3D Cell Culture Market is primarily driven 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
limit market growth during the forecast period.
The cancer & stem cell research segment is
expected to grow at the highest CAGR during the forecast period
Based on application, the 3D cell culture market is
segmented into cancer & stem cell research, drug discovery & toxicology
testing, and tissue engineering & regenerative medicine. The cancer &
stem cell research segment accounted for the largest share of the 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.“Based
on end user, the pharmaceutical & biotechnology companies segment is
projected to grow at the highest CAGR during the forecast period.”
Based on end user, the market is segmented into pharmaceutical &
biotechnology companies, research institutes, the cosmetics industry, and other
end users. In 2018, the pharmaceutical & biotechnology companies segment
accounted for the largest share of the 3D Cell Culture Market share. This
segment is also projected to grow at the highest CAGR in the forecast period.
Strong manufacturing and R&D activity in pharmaceutical & biotechnology
companies, the increasing R&D expenditure, and growing focus on
alternatives to animal testing models are the key factors driving the growth of
this segment.
“North America dominates
the global 3D Cell Culture Market.”
Based on region, the Cancer Therapeutics Market is segmented into North America, Europe, Asia Pacific, and
the Rest of the World (RoW). In 2018, North America commanded the largest
share of the market. The increasing incidence of cancer and the presence of a
well-established pharmaceutical & biotechnology industry are some of the
key factors supporting the growth of the North American market.
