New York, USA, March 04, 2020 (GLOBE NEWSWIRE) -- As per the new Research Dive published report, the global 3D cell culture market is set to grow at a 29.4% CAGR and will generate a revenue of $12,638.8 million during the period of forecast from 2019 to 2026. The market has been segmented on the basis of product, application, end use, and region. The report provides in-depth insights on trends, opportunities, drivers, restraints, vital segments, and major players of the market. According to our analysts, the growing awareness of oncological diseases such as lung cancer, skin cancer, and others is one of the substantial factors to boost the growth of 3D cell culture market all over the globe. Recent inventions in advancing diagnosis and treatment in neuromuscular diseases is expected to create enormous opportunities for the global market. However, substitutes such as 2D cell culture and lack of experienced professionals is predicted to pose a severe threat for the global 3D cell culture market growth.
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Microchips Segment to Grow at Healthy Rate
On the basis of product, the global 3D cell culture market is segmented into gels, bioreactors, microchips, scaffold-based platform, scaffold-free platform, and services. The market size for microchips 3D cell culture segment is estimated to garner a revenue of $2,515.1 million by the end of 2026. This is mainly due to the key benefits offered by the microchips tool for cell culture systems such as to mimic the physiology of the organ. On the other hand, the scaffold-based platform segment is forecasted to surpass $3,425.1 million, owing to its availability of attachment points and structural rigidity.
Cancer Research Segment to Grow at Fast Pace
Based on the application, the global market for 3D cell culture is segmented into cancer research, drug discovery, regenerative medicine, and stem cell research. The cancer research market accounted for $546.1 million in 2018, and is projected to surpass $4,057.1 million by the end of forecast period. Factors such as surge in cancer prevalence, growth in collaboration between pharmaceuticals companies, and rise in cancer research are estimated to boost the demand for cancer research. On the other hand, the regenerative medicines segment is estimated to garner a revenue of $3,690.5 million by 2026. Scientists in regenerative medicine are focusing more on automated 3D bio-assembly of micro-tissues, which will escalate the market growth.
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Biotechnology & Pharmaceutical Companies to Have Major Market Share
On the basis of end use, the global market for 3D cell culture is segmented into biotechnology & pharmaceutical companies, contract research laboratories, and academic institutions. The market size for biotechnology & pharmaceutical companies was highest in revenue with $680.1 million in 2018, and is anticipated to reach up to $5,184.4 million by the end of 2026. This is largely due to massive transformation in the laboratory and also because of change in strategies, operations, and technology.
Asia Pacific Region to Create Lucrative Opportunities for Market Investors
Based on region, the global 3D cell culture market is segmented into North America, Europe, Asia-Pacific, and LAMEA. The Asia Pacific market for 3D cell culture will reach up to $3,020.7 million by 2026, owing to the increase in drug discoveries and rise in emphasis on biotechnology industry. Along with Asia Pacific, the North America 3D cell culture market will grow at 28.1% CAGR and will garner a revenue of $4,019.1 million during the forecast period.
Prominent Players of the Market
The main players of global 3D cell culture market include Corning Incorporated, Thermo Fisher Scientific, TissUse GmbH, 3D Biotek, Hµrel Corporation, QGel SA, SynVivo, Advanced BioMatrix, Greiner Bio-One International, and Lonza. Market Players prefer inorganic growth strategies to expand into local markets. These players are emphasizing more on inorganic growth strategies to expand into local markets. Advancements in product development and mergers & acquisitions are some other strategies adopted by the established organizations.