New York, USA, Sept. 15, 2021 (GLOBE NEWSWIRE) -- According to the latest report published by Research Dive, the global 3D cell culture market is predicted to witness a significant increase in revenue from $1,607.8 million in 2018 to over $12,638.8 million by 2026 at a CAGR of 29.4% from 2019-2026.
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Market Analysis
Growth: Oncology is one of the most prominent segments of 3D cell culture which has been witnessing steady growth owing to its use in clinical trials. The rising awareness about increasing instances of lung cancer, skin cancer, and other such oncological diseases have led to the growth of the market. To add further, 3D cell culture is also utilized in the process of drug development as the techniques helps healthcare professionals figure out the cellular pathways. Also, the research has led to an increase in the financial assistance from both government and non-government sources. These factors have led to the rapid growth of the market in the forecast period.
Restraints: A lot of alternatives to 3D cell culture such as 2D cell culture are available in the market. To add further, a lot of medical professionals lack the skill to work on the procedure effectively. Also, the cost of technology as well as 3D cell culture is expected to be the primary limiting factor in the growth of the global market.
Opportunities: Most of the neuromuscular diseases (NMD) require effective diagnosis, which is only possible using precision based modeling of the micro-physiological form. This process is extremely complex due to which the latest developments involved in neuromuscular-reproducing in-vitro systems using 3D cell-culture methods are extremely trustworthy. Additionally, the process of 3D cell culture is also witnessing enhancements in the duplication of spinal-locomotion circuit as well as neurodegeneration process. These factors are predicted to provide the market with an opportunity of growth in the analysis period.
Segmental Analysis
The market is segregated into multiple segments based on product, application, and end use.
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Microchip Sub-segment Anticipated to Garner Highest Market Share
By product, the microchip sub-segment is predicted to witness a rise in revenue from $305.5 in 2018 to over $2,515.1 million by 2026. The microchip also known as organ-on-a-chip also contains several benefits within the cell culture system. This is due to the microchip containing a cultured environment compressed into the size of a cell. It also replicates the functions of an organ, which has led to the advancements in various sectors such as high-throughput drug screening biosensors, diagnostics, as well as basic biological research. These factors have ensured the rapid growth of the segment in the forecast period.
Cancer Research Sub-segment Predicted to Dominate the Market
By application, the cancer research sub-segment is predicted to witness a significant rise in revenue from $546.1 million in 2018 to over $4,057.1 million by 2026. The rising cases of cancer among people has also led to an increase in research initiatives. To add further several pharmaceutical companies have also been involving in collaborations to find the best possible solution to this illness. Moreover the presence of an elderly population is expected to further propagate the need for advanced cancer research initiatives. These factors are set to add to the growth of the segment in the analysis period.
Biotechnology and Pharmaceutical Companies Sub-segment Expected to Garner Highest Revenue
By end use, the biotechnology and pharmaceutical sub-segment is expected to garner revenue of $5.184.4 million by 2026 rising from $680.1 million in 2018. This growth is credited to the rapid changes being witnessed in laboratories as well as in the strategies used. To add further, several industry experts have been investing in the research and development of the sector, which is predicted to further add to the growth of the segment in the expected time period.
Regional Analysis
The Asia-Pacific region is predicted to witness a rise in revenue from $353.7 million to over $3,020.7 million by 2026. The region is predicted to hold significant potential in contributing to the growth of the 3D cell culture market. This is primarily due to the rise in drug discoveries within the region as well as importance given to the development of the biotechnology sector. Also, most of these projects are usually processed in countries such as South Korea, which have been trying to fulfill the increasing demand for medicine cell and stem regenerative therapies.
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Key Market Players
The report contains a list of notable market players who have been ensuring the constant growth of the market. They are as listed below:
- Corning Incorporated
- TissUse GmbH
- Hurel Corporation
- SynVivo
- Greiner Bio-One International
- Thermo Fisher Scientific
- 3D Biotek
- QGel SA
- Advanced BioMatrix
- Lonza
The report provides an insight into the various initiatives by the industry experts such as mergers, partnerships & collaborations, and product launches.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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