New York, USA, Dec. 27, 2022 (GLOBE NEWSWIRE) — According to the latest report published by Research Dive, the global 3D cell culture market is expected to gather a revenue of $5,656.7 million by 2031, growing at a healthy CAGR of 15.07% in the 2022-2031 timeframe. This holistic report puts forward a brief overview of the 3D cell culture market’s current framework including cardinal aspects of the market such as growth drivers, growth opportunities, and restraints and hindrances during the forecasted period of 2022-2031. All the necessary and essential market figures are also provided in this report to help new entrants analyze the market with ease.
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Dynamics of the Market
Drivers: Since the last few years, there have been significant developments in the way neuromuscular diseases have been diagnosed and treated. These developments are anticipated to be the primary growth driver of the 3D cell culture market. Moreover, increasing demand for 3D cell culture techniques from the biopharmaceutical industry is further expected to help in boosting the growth rate of the market in the forecast period.
Opportunities: Rising global awareness regarding chronic diseases such as lung cancer, skin cancer, etc., is expected to provide huge growth opportunities to the market in the forecast period. Additionally, technological developments in the medical field for the treatment of various diseases are expected to augment the growth rate of the market.
Restraints: The presence of substitutes such as 2D cell culture is, however, expected to become a restraint in the full-fledged growth of the 3D cell culture market.
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Impact of Covid-19 on the Market
The 3D cell culture market faced a positive impact of the pandemic. The Covid-19 pandemic led to an increase in the use of 3D cell culture by various pharmaceutical companies to develop and manufacture drugs and vaccines to tackle the SARS-CoV-2 virus. The growing use of 3D cell culture by these companies was mainly to assess and analyze the cellular activity of the virus in vivo environments. The increased demand for 3D cell culture from the medical sector and pharmaceutical industry helped the market gduringw in the pandemic period.
Segments of the Market
The report has divided the 3D cell culture market into certain segments based on product, application, end-user, and region.
Product: Scaffold-Based 3D Cell Culture Sub-Segment to Have the Highest Market Share
By product, the scaffold-based 3D cell culture sub-segment is predicted to have a dominating market share during the forecast period. The use of hydrogels as scaffolds to provide stable platforms for studying human and cellular physiology is predicted to help in the growth of this sub-segment.
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Application: Cancer Research Sub-segment to be the Most Profitable
By application, the cancer research sub-segment is predicted to be the most dominant by 2031. The growth in the prevalence of cancer across the globe along with the increasing scope of cancer research is predicted to be the leading growth factor of this sub-segment.
End User: Biotechnology and Pharmaceutical Companies Sub-segment to be the Most Dominant
By end user, the biotechnology and pharmaceutical companies sub-segment is predicted to be the most profitable in the forecast period. The growth of this sub-segment is mainly on account of the rising preference for alternative testing models over animal approaches and the growth in investments by these companies in the research and development sector.
Market in the North America Region to be Most Lucrative
By regional analysis, the 3D cell culture market in the North America region is anticipated to be the most lucrative sub-segment in the forecast timeframe. The availability of government and private funding for the development of advanced 3D cell culture models is predicted to be the main factor behind the growth of the market in this region.
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Prominent Market Players
Some of the prominent players in the 3D cell culture market are
- Corning Incorporated
- Hµrel Corporation
- Advanced BioMatrix
- Thermo Fisher Scientific
- QGel SA
- Greiner Bio-One International
- TissUse GmbH
- 3D Biotek
These players are adopting numerous business strategies like mergers, acquisitions, and collaborations to gain a leading position in the global market.
For instance, in May 2021, CELLINK, a biotechnology company, announced the acquisition of Visikol, a US-based company providing 3D cell culture solutions. This acquisition is predicted to boost the market share of the acquiring company, i.e., CELLINK in the next few years.
Finally, the report also summarizes many crucial aspects of the global market including the financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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