3D Cell Culture Market is Anticipated to Reach a Value Of $3,534.5 Million By 2025 and Project a CAGR Of 22.8% During the Forecast Period 2018-2025, Says Esticast Research and Consulting
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As per the report “3D Cell Culture System Market By Technology ( Scaffold based, Bioreactors, Gels, Scaffold free platforms, Microchips ), By End-user ( Research laboratories, Biotechnology and pharmaceutical companies, Hospitals and diagnostics centers ), By Application ( Drug discovery, Research, Clinical applications, Tissue engineering, Stem cell biology ),Industry Trends, Estimation & Forecast, 2018 – 2025″, 3D Cell Culture Market is Anticipated to Reach a Value Of $3,534.5 Million By 2025 and Project a CAGR of 22.8% During the Forecast period 2018-2025.
In 2017, the Scaffold based segment garnered the highest share in the global 3D cell culture market. In terms of region, North America earned the lion’s share by accounting for more than 40% of the total market share in terms of revenue.
“New entrants are witnessing lucrative opportunities in the global 3D cell culture market due to the surging trend of customized 3D cell culture products. The well-established market players are also exploiting the profitable opportunities coming their way, by fulfilling the specific requirements of the customers. For instance, a biotechnology company known as Applikon Biotechnology collaborated with a prominent market player, Thermo Fisher Scientific to provide new single-use bioreactor controller solutions known as iControl and ezControl.”
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Small-and medium-sized vendors face challenges in the global 3D cell culture market due to budget constraints
The significant growth of 3D cell culture market is projected with great challenges that are leaving an impact on the growth of small-and medium-sized vendors such as pharmaceutical and biotechnology companies. The major challenge being faced by such vendors is their financial limitations while investing in 3D hydrogels. The initial investment required for investing in 3D hydrogels during cell culturing is high, which results into budget constraints. Moreover, the demand for hydrogel is surging in the global market, resulting into a higher market share of 3D hydrogels. Such a growth in the global market when faced by budget constraints is proposed to create challenges for the biotechnology and pharmaceutical companies.
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GLOBAL 3D CELL CULTURE MARKET SHARE BY TECHNOLOGY, 2017
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North America gained the lion’s share in the global market, owing to the presence of prominent biotechnology and pharmaceutical companies in the region
In 2017, North America accounted for more than 40% share of the global 3D cell culture market and is expected to maintain its dominance throughout the forecast period. The prime factor responsible for the growth of the region is the presence of prominent biotechnology and pharmaceutical companies in the region. In 2016, among the top ten global pharmaceutical companies, in terms of their pharmaceutical revenue, six companies were based in the United States. In addition, more than $60 billion are invested in the pharmaceutical R&D activities, in the U.S. The United States accounts for almost 1/3rd share of the global biopharmaceutical market and holds intellectual property rights on most of the nouveau medicines developed. Various other determinants that contribute towards the regional growth of the market are the surging incidences of cancer, government support, availability of advanced healthcare facilities, and presence of prominent market players.
GLOBAL 3D CELL CULTURE MARKET SHARE BY APPLICATION, 2017
Some of the key market players include 3D Biotek LLC, Kuraray Co., Merck & Co., Inc., Lonza Group, Corning Incorporated, Dickinson and Company, Thermo Fisher Scientific Inc., Global Cell Solutions, Inc., Advanced Biomatrix, Inc. and VWR International, LLC.