FELTON, California, Aug. 19, 2019 /PRNewswire/ -- Global 3D Cell Culture Market is anticipated to reach USD 1.69 billion by 2024. 3D cell culture, as the name suggests, implies formation of a three-dimensional structure and acting like an organ or a tissue. It's in demand sue to its innovative features and convenience as compared to the other cell
Factors such as increasing number of organizations investing in 3D cell culture development, a growing number of research activities, increasing demand for organ transplantation, and awareness regarding oncological diseases growing among the populace are likely to drive the market in the forthcoming period.
On the other hand, lack of consistency and high cost are anticipated to hinder market growth in the future. However, technological advancements are likely to create lucrative opportunities for the market. The market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
3D cell culture market is segmented by product type, culture component, application, end user, and geography. The market is segmented by product type as scaffold-based platforms (micro-porous scaffolds, Nano-porous scaffolds, macro-porous scaffolds, solid scaffolds, and scaffold-free platforms), bioreactors, gels, services, and microchips. The hydrogels/ECM segment accounts for a prominent share in the market. It is likely to witness substantial growth in the years to come. Based on the culture component, the market is segmented by reagents and consumables, and media.
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The key applications are segmented in the market include tissue engineering & immunohistochemistry, cancer, and stem cell research, drug development and others. cancer and stem cell research segment accounted for a prominent share in the 3D cell culture industry. It is likely to observe substantial growth in the forthcoming period. The key factors that could be attributed to the growth of market include significant funding initiatives for cancer research from private organizations and government and increasing occurrence of cancer.
The market is categorized based on end user as hospitals and diagnostic centers, research laboratories and institutes, biotechnology and pharmaceutical industries, and others. The "biotechnology and pharmaceutical industries" segment accounted for a prominent share in 3D cell culture market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of 3D cell culture industry include increasing expenses on R&D in these companies and the presence of a large number of biotechnology and pharmaceutical companies.
North America is one of the prominent regions in the market. It is likely to maintain its dominance in the forecast period owing to factors such as technological advancements, increase in investments for the healthcare sector, and growing research on stem cell and cancer cells treatments.
In addition, North America is followed by the European and Asia-Pacific region owing to an increase in demand for drug discovery and rise in focus on the biotechnology industry. The other factors include low operating costs of laboratory and industries setups and emerging infrastructure in this region.
Key players operating in the 3D cell culture market include Lonza Group, Becton Dickinson and Company, Thermo Fisher Scientific, Inc., Corning Incorporated, 3D Biomatrix, Inc., Sigma-Aldrich Corporation, 3D Biotech LLC, Reinnervate Ltd, Global Cell Solutions, Inc., InSphero AG. The leading companies are involved in partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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