What is the Future Scope of 3D Cell Culture Market amidst COVID-19?

Pune, India, 2020-Apr-13 — /EPR Network/ —

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the 3D Cell Culture Market. We are working diligently to help companies take rapid decisions by studying:

1. The impact of COVID-19 on the 3D Cell Culture Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market.
2. The rapid shifts in the strategies of the Top 50 companies in the 3D Cell Culture Market
3. The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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The growth of 3d cell culture market is driven mainly by the increasing focus on developing alternatives to animal testing, growing focus on personalized medicine, increasing incidence of chronic diseases, and the availability of funding for research. On the other hand, the lack of infrastructure for 3D cell-based research and the high cost of cell biology research are expected to restrain the growth of this market during the forecast period.

3D Cell Culture Market by Product (Hydrogel, Hanging Drop, Bioreactor, Microfluidics, Magnetic Levitation), Application (Cancer, Stem Cell, Toxicology, Tissue Engineering), End User (Pharmaceutical, Biotech, Cosmetics), Region.

The global 3D cell culture market size is projected to reach USD 1,846 million in 2024 from USD 892 million in 2019, at a CAGR of 15.7%.

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The Global 3D Cell Culture Market is Segmented on:

1. Product
2. Application
3. End User
4. Region

The cancer & stem cell research segment accounted for the largest share of the market in 2018 and is expected to register the highest CAGR during the forecast period. The increasing prevalence of cancer and significant funding for cancer research are major factors driving the growth of this application segment.

Scaffold-based 3D cell cultures accounted for the largest share of the market in 2018. The advantages of scaffolds in 3D cell culture, such as structural rigidity and the availability of attachment points, have greatly driven the preference for scaffold-based 3D cell cultures and ensured the large share of this segment.

Pharmaceutical & biotechnology companies accounted for the largest share of the market in 2018. The presence of a large number of pharmaceutical & biotechnology companies, an increase in R&D spending in these companies, and the growing preference for alternative testing models over animal techniques are the key market drivers in this end-user segment.

Regional Analysis:

North America commanded the largest share of the market due to the increasing incidence of cancer and the presence of a well-established pharmaceutical & biotechnology industry. However, the market in Europe is expected to grow at the highest CAGR during the forecast period.

Key Players:

Thermo Fisher Scientific (US), Corning Incorporated (US), Merck KGaA (Germany), Lonza AG (Switzerland), REPROCELL Incorporated (Japan), TissUse (Germany), InSphero (Switzerland), Synthecon (US), 3D Biotek (US), CN Bio (UK), Hamilton Company (US), MIMETAS (Netherlands), Emulate (US).