In-vitro Lung Model Market
In-vitro Lung Model Market - Global Industry Assessment & Forecast
- By Type 2D Cell Models, 3D Cell Models
- By Application Drug Screening, Toxicology, Others
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 321.20 Million|
|Revenue 2030:||USD 1112.58 Million|
|Revenue CAGR (2023 - 2030):||16.80%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||North America|
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In-vitro Lung Model Market: By Type, Application, and Region
Global In-vitro Lung Model market is valued at USD 321.20 Million in 2022 and is projected to attain a value of USD 1112.58 Million by 2030 at a CAGR of 16.80% during the forecast period, 2022–2028. The increase in awareness and attention on developing alternatives to animal testing models is a major factor contributing to the market's growth. The shift in focus is owing to two factors: first, despite their many parallels, there are distinctions between a specific animal species and humans; second, animal protection and welfare are important considerations when using animals for scientific purposes. Russell and Burch's '3Rs' should be followed, according to the Animal Welfare Institute, which states that animals should be replaced in research with alternatives, the number of animals used in experiments should be reduced, and the care and treatment of those animals who are still used in research, testing, and education should be refined.
In-vitro Lung Model Market Size, 2022 To 2030 (USD Million)
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The industry's expansion will be fueled by the world's ageing population. According to the World Health Organization, the global population of people aged 60 and more will increase from 12% in 2015 to roughly 22% in 2050. With increasing age, muscle strength and physical labour capacities deteriorate. The In-vitro Lung Model market will continue to grow as more testing will be re in the near future.
Rising Prevalence of Lung Diseases and Increasing Research on Lung Disorders
For the past few years, the global In-vitro Lung Model industry has exploded in popularity. The increased prevalence of fatal lung dysfunctions such as Chronic Obstructive Pulmonary Disease (COPD), pneumonia, asthma, lung cancer, and Idiopathic Pulmonary Fibrosis is one of the key reasons driving revenue growth (IPF). To study lung illnesses and find new pharmacological therapies, researchers are using advanced In-vitro Lung Model. Revenue growth is being boosted by technological breakthroughs in cell culture and the increased acceptance of lung in vitro models rather than animal testing methods. Furthermore, growing applications in regenerative medicine are likely to create profitable prospects for global market leaders.
Shortage of Trained Professionals
Despite technological breakthroughs in cell culturing techniques and the development of 2D and 3D in vitro models, a prominent factor projected to stymie market expansion during the forecast period is the lack of trained professionals and skilled researchers to operate and set up experiments. Furthermore, poor penetration of In-vitro Lung Model, high costs of setting up in vitro procedures, and a lack of awareness about the models, particularly in developing countries, are projected to restrain the worldwide In-vitro Lung Model market's growth over the forecast period.
The Global In-vitro Lung Model market is segmented by Type into 2D Cell Models and 3D Cell Models. Based on Application into, Drug Screening, Toxicology and Others. Based on Region, the Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
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North America is Expected to Dominate the Market
North America is expected to hold the highest proportion of the global market in 2020. The flourishing research environment and ample financing programs, such as higher finances for the National Institutes of Health (NIH) and increasing R&D activities by biotechnology and pharmaceutical businesses, are driving market growth in North America.
Key players operating in the In-vitro Lung Model market are: Epithelix (Switzerland), MatTek Corporation (US), Lonza (Switzerland), ATCC (US), InSphero (Switzerland), Emulate (US), AlveoliX (Switzerland), Oncotheis (Switzerland), Insphero (Switzerland), TissUse (Switzerland), Mimetas (Netherlands), and CN Bio Innovations (UK).
The In-vitro Lung Model market is segmented as follows:
Regions & Countries Covered
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST
analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market
attractiveness analysis by segments and North America, company market share analysis, and COVID-19
The In-vitro Lung Model market scope can be tabulated as below:
Frequently Asked Question
What is the global demand for In-vitro Lung Model in terms of revenue?
The global In-vitro Lung Model valued at USD 321.20 Million in 2022 and is expected to reach USD 1112.58 Million in 2030 growing at a CAGR of 16.80%.
Which are the prominent players in the market?
The prominent players in the market are Epithelix (Switzerland), MatTek Corporation (US), Lonza (Switzerland), ATCC (US), InSphero (Switzerland), Emulate (US), AlveoliX (Switzerland), Oncotheis (Switzerland), Insphero (Switzerland), TissUse (Switzerland), Mimetas (Netherlands), and CN Bio Innovations (UK)..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 16.80% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the In-vitro Lung Model include
- Rising Prevalence of Lung Diseases and Increasing Research on Lung Disorders
Which region accounted for the largest share in the market?
North America was the leading regional segment of the In-vitro Lung Model in 2022.