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% – PRNewswire

NEW YORK, Dec. 17, 2019 /PRNewswire/ -- The global 3D cell culture market is projected to grow at a CAGR of 15.7% during the forecast period.

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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%. The growth in this 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 microfluidics-based 3D cell cultures segment is projected to grow at the highest CAGR during the forecast period.Based on product, the 3D cell culture market is segmented into scaffold-based, scaffold-free, microfluidics-based, and magnetic & bioprinted 3D cell cultures.The microfluidics-based segment is expected to register the highest CAGR during the forecast period.

Funding initiatives from various government and private investors are among the key factors driving the growth of this market.

The cancer and stem cell research segment accounted for the largest share of the 3D cell culture market in 2018.On the basis of 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.

The increasing prevalence of cancer and significant funding initiatives for cancer research from the government as well as the private sector are some of the major factors driving the growth of this application segment.

Europe to witness high growth during the forecast period.Based on region, the 3D cell culture market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). The European market is expected to grow at the highest CAGR owing to the growth of the pharmaceutical and biotechnology industry, increasing incidence of cancer, growing number of venture capital investments, strategic expansion of market players in the region, recent commercialization of microfluidic-based products, increasing presence of major market players, and the large number of research activities in the region.

The primary interviews conducted for this report can be categorized as follows: By Company Type: Tier 1: 50%, Tier 2: 30%, and Tier 3: 20% By Designation: C-level: 37%, D-level: 29%, and Others: 34% By Region: North America: 38%, Europe: 23%, Asia: 30%, and the RoW: 9%

List of companies profiled in this report Thermo Fisher Scientific (US) Corning Incorporated (US) Merck (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) Hrel Corporation (US) QGel SA (Switzerland) SynVivo (US) Advanced BioMatrix (US) Greiner Bio-One International (Austria) PromoCell (Germany)

Research Coverage:The report provides an overview of the 3D cell culture market.It aims at estimating the market size and growth potential of this market across different segments such as product, application, end user, and region.

The report also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, recent developments, and key market strategies.

Key Benefits of Buying the Report:The report will help the market leaders/new entrants in the 3D cell culture market by providing them with the closest approximations of revenues for the overall market and its subsegments.This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies adopt suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provide them with information regarding key market drivers and opportunities.

Read the full report: https://www.reportlinker.com/p05206182/?utm_source=PRN

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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% - PRNewswire