Global 3D Cell CultureMarket Report, published by Variant Market Research, forecast that the global market is expected to reach $4,899 Million by 2024 from $920 Million in 2016, growing at a CAGR of 23.3% from 2016 to 2024. By geography, Asia Pacific and North America are expected to grow at a CAGR of 24.5% and 23.2%, respectively, during the forecast period.
"3D Cell Culture Market (By Technology: Extracellular Matrices, Bioreactors, Gels, Scaffold Free Platform, and Microchips; By Application: Research, Drug Discovery, Tissue Engineering, Clinical Applications and Stem Cell Biology; By End-User: Research Laboratories & Institutes, Biotechnology & Biopharmaceutical Industry and Hospital & Diagnostic Centers; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend, and Forecast, 2015-2024"
Factors driving the global 3D cell culture market include, ban on research and testing on animals, growing need for organ transplantation due to large patient database, and rising investment on R&D by various pharmaceutical and biotechnological companies. High initial cost may hamper the growth of the market. Rising demand for customized cosmetics is anticipated to provide growth opportunities for the market players.
Technology, application, and geography are the major segments of the global 3D cell culture market. By technology, the market is bifurcated into extracellular matrices, bioreactors, gels, Scaffold free platform, and microchips. By application, the market is sub-segmented into research, drug discovery, tissue engineering, clinical applications, and stem cell biology. Furthermore, end-user is categorized into research laboratories & institutes, biotechnology & biopharmaceutical industry, and hospital & diagnostic centers.
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are the major geographical segments of the global 3D cell culture market. Asia Pacific is the fastest growing region in the global 3D cell culture market, owning to increasing government funding for research and development and rising scope for outsourcing. Moreover, Europe accounted the largest share of the market followed by North America, in the year 2016.
The key market players comprise of Merck & Co., Inc., 3D Biotek LLC, Lonza Group, Kuraray Co., Ltd., Corning Incorporated, Becton, Dickinson and Company, Advanced Biomatrix, Inc., Thermo Fisher Scientific Inc., VWR International, LLC, and Global Cell Solutions, Inc., among others.