Lung in Vitro Model Market to Reach Valuation of USD 976.1 Million by 2028 - Rising Emphasis on Developing Alternatives for Animal Testing Models is Expected to Boost the Revenue for the Market
In terms of revenue, the Global Lung in Vitro Model Market is expected to reach USD 976.1 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 17.1% from 2022 to 2028.
Major factor attributing to the growth of the Lung in Vitro Model Market is the increasing awareness and focus on developing alternative solutions rather than animal testing models. As lungs are a critical and delicate part of the human body, animal lungs are generally used to analyse lung disorders which is currently a point of discussion among animal welfare organisations. Major healthcare companies are funding Research and Development (R&D) centres for 3D modelling and effects of drugs using in vitro methods. This will help the companies to understand better and find precise solutions. These are some of the key driving factors expected to generate revenue from the Lung in Vitro Model Market.
- The drug discovery & toxicology sub-segment is anticipated to dominate the segment for Lung in Vitro Model Market and growing at a substantial Compound Annual Growth Rate (CAGR). This is owing to the adaptability of practicality and logistical advantages than 3D models.
- North America is the largest regional segment. This surge is attributed to the rising demand of Lung in Vitro Model Research and Development (R&D) in developed economies such as the U.S. and Canada. The reason for the growth in this region is because of higher funding programmes organised by the key market players.
- The high cost of modelling and lack of skilled professionals is one of the major challenges faced by the Lung in Vitro Model market.
Some of key players in Lung in Vitro Model Market include - 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)..
In recent years, welfare organisations are conducting debates on the use of animals in research and testing. To continue the testing methodologies and technology advancement researchers are working on alternate solutions and initiatives to develop non-animal approaches for in vitro lung modelling. According to the World Health Organisation (WHO) breathing unhealthy air is causing approximately 7 million deaths annually. Along with this fact, the infectious, as well as chronic disease prevalence across the globe, is increasing hastily. This is surging the demand for novel treatment and drugs, further propelling the demand for drug discovery and toxicology. As a consequence, propelling the demand for vitro lung model further propels the market growth.
North America is expected to dominate the global Lung in Vitro Model Market in 2021 and is likely to continue the same trend during the forecast period. Flourishing research environment as well as increasing funding for the National Institutes of Health (NIH) along with increased Research and Development (R&D) activities by biotechnology and pharmaceutical companies are some of the factors driving market growth in the region over the forecast period.
The Lung in Vitro Model is segmented as follows:
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Pages and in-depth TOC on "Lung in Vitro Model Market by Type (2D Cell Models, 3D Cell Models), by Application (Drug Screening, Toxicology, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)"
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of MEA
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