3D Cell Culture Market: Growth Strategies Adopted by Key Players Like Thermo Fisher Scientific (US), Corning Incorporated (US)

3d illustration proteins with lymphocytes , t cells or cancer cells

Illinois, United States, 2021-Jan-29 — /EPR Network/ —

This report aims to provide detailed insights into the global 3d cell culture market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.

Key Players in 3D Cell Culture Market:

Some of the prominent players offering 3D cell culture products include 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), Hµrel Corporation (US), QGel SA (Switzerland), SynVivo (US), Advanced BioMatrix (US), Greiner Bio-One International (Austria), and PromoCell (Germany).

These players have adopted various growth strategies such as product launches, expansions, acquisitions, partnerships, agreements, and contracts to expand their presence in the 3D cell culture market. Most key players adopted expansions as their primary growth strategy between 2016 and 2019.

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Thermo Fisher Scientific (US)

Thermo Fisher Scientific dominated the 3D cell culture market in 2018. The company’s leading position can be attributed to its strong brand image and robust product portfolio. The company has a strong foothold in the market with its established brand AlgiMatrix. The company focuses on R&D activities and product launches to further strengthen its position in the market. In 2018, the company invested USD 967 million in R&D activities. It also adopts organic and inorganic growth strategies such as expansions and acquisitions in order to maintain its position in this market. For instance, in October 2018, Thermo Fisher Scientific acquired the Advanced Bioprocessing business of BD (US) to enhance its presence in the cell culture media products market.

Corning Incorporated (US)

Corning offers a number of quality and reliable products in this market. The company has a strong foothold in the market with its established brand Corning Matrigel Matrix. To maintain its leading position in the 3D cell culture market, the company focuses on R&D activities and product launches. The company invested USD 993 million, USD 864 million, and USD 736 million in R&D activities in 2018, 2017, and 2016, respectively.

Key Factors Driving Market Growth:

The growth in 3D Cell Culture Market is primarily driven 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 limit market growth during the forecast period.

Expected Market Revenue Growth:

The 3D Cell Culture Market is projected to reach USD 1,846 million by 2024 from USD 892 million in 2019, at a CAGR of 15.7%.

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Regional Growth 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. The growth of the market in Europe is attributed to the growth of its pharmaceutical and biotechnology industry, recent commercialization of microfluidics-based products, the increasing presence of major market players, and a large number of research activities conducted in the region.

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