LONDON, Oct. 12, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Human Liver Model Global Market Report 2023, the global human liver model market is experiencing a remarkable growth trajectory, set to achieve unprecedented expansion in the coming years. The human liver model market's value is expected to surge from $1.83 billion in 2022 to $2.07 billion in 2023, demonstrating an impressive Compound Annual Growth Rate (CAGR) of 13.1%. By 2027, the global human liver model market is anticipated to reach a substantial valuation of $3.32 billion, growing at a CAGR of 12.6%.
Rising Liver Disease Cases Drive Market Growth
One of the key factors fueling this growth is the escalating cases of liver diseases worldwide. Liver disease encompasses a range of disorders affecting the liver's normal function. As researchers increasingly utilize human liver models for in-depth studies of liver diseases and drug development, the market continues to thrive. For instance, as reported by Cancer Australia in September 2022, Australia saw 2,905 new cases of liver cancer in 2022. The risk of developing liver cancer by age 85 was predicted to be 1 in 103 (0.97%) in 2022. These statistics highlight the pressing need for advanced tools such as human liver models.
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Leaders in the Field
Major players in the human liver model market, including Corning Incorporated, BioIVT LLC, Cellink AB, InSphero AG, and Regenovo, are at the forefront of market dynamics. Their contributions, innovations, and market strategies are instrumental in shaping the industry landscape.
Innovation as a Key Driver
Product innovation has taken center stage in the human liver model market. Leading companies are devoted to creating cutting-edge products that enhance their market positioning. For instance, in April 2023, LifeNet Health Life Sciences introduced TruVivo, a groundbreaking liver system made entirely of human cells. TruVivo promises to be a vital tool for critical drug development and research, combining the advantages of 3D models with the ease of use associated with 2D models.
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Global Outlook and Market Segmentation
North America claimed the lion's share of the human liver model market in 2022, driven by advancements in research and technology. However, Asia-Pacific is set to emerge as the fastest-growing region in the human liver model market during the forecast period.
The global human liver model market is meticulously segmented based on:
- Product: Liver Organoids, Liver-On-A-Chip, 2D Models, Animal Models, 3D Bioprinting
- Application: Educational, Drug Discovery, and Other Applications
- End Users: Research Institutes, Pharmaceutical Companies, and Other End Users.
The Human Liver Model Global Market Report 2023 offers critical insights, statistics, and forward-looking trends that are indispensable for market players, researchers, and businesses. By harnessing the information and trends presented in the report, companies can formulate informed strategies, spot lucrative opportunities, and stay well-prepared for the evolving market landscape. The report serves as an essential resource for those aiming to lead the way in the dynamic field of human liver models.
Human Liver Model Global Market Report 2023 by The Business Research Company provides insights on the human liver model market size, human liver model market segments, human liver model market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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