The global 3D cell culture market is experiencing an exceptional growth, thanks to the heavy investment by the leading market players. According to a research report published by Persistence Market Research (PMR), this market is expected to rise at an impressive CAGR of 29.10% during the period from 2015 to 2020 and increase from a total value of US$0.5 bn in 2014 to a value of US$ 2.7 bn by the end of 2020.
Apart from the investment, the worldwide 3D cell culture market is significantly benefitting from the increase in research related activities. The rise in the need of organ transplant and the growing automation of laboratories for 3D cell culturing are other important factors that are driving the growth of the global market for 3D cell culture substantially.
Europe 3D Cell Culture Market to Reach US$1.0 bn by 2020
Europe has been dominating the worldwide 3D cell culture market since past few years, closely followed by North America. The rising investment in the field of 3D cell culture to increase research and development activities has propelled this regional market significantly.
In 2014, the Europe market for 3D cell culture valued at US$0.2 bn. This regional market is anticipated to rise at a remarkable CAGR of 28.7% during the period from 2015 to 2020 and reach a value of US$1.0 bn by the end of 2020. The U.K. has emerged as the largest domestic 3D cell culture market in Europe.
Asia Pacific to Present Lucrative Opportunities to Market Participants
The North America 3D cell culture market has also witnessed a healthy growth in the recent times. The wide-ranging application of 3D cell culture, together with the increase in the research and development activities in this field, has boosted the market for 3D cell culture in North America.
The 3D cell culture market in Asia, on the other hand, is in its budding stage but is exhibiting high potential for growth in the near future. The increasing population and the economic development in emerging Asian countries such as India and China are projected to provide lucrative opportunities to market participants.
The increase in the government funding to encourage research and development in 3D cell culture is also expected to stimulate the Asia 3D cell culture market in the coming years.
Global 3D Cell Culture Market: Segmentation and Key Players
Extracellular matrices or scaffolds, scaffold-free platforms, gels, bioreactors, and microchips are the most popular technologies used in 3D cell culture. Drug development and testing, clinical application, research, tissue engineering, and stem cell biology are the prime application areas of 3D cell culture and its major end users are pharmaceuticals and biotech industries, research institutes and laboratories, and hospitals and diagnostic centers.
Microchip is the most commonly used technology in 3D cell culture and the application of 3D cell culture is expected to be the highest in drug discovery over the next few years. Moreover, the pharmaceuticals and biotech industries are likely to emerge as the biggest end users of 3D cell culture in the near future.