WASHINGTON, March 04, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Lung in Vitro Model Market finds that rising attention to the development of animal model alternatives, advancement in cell culture technology, and the development of new 3D in vitro models are some of the major parameters in spurring the growth of Lung in Vitro Model Market in recent years. The total Global Lung in Vitro Model Market is estimated to reach USD 976.1 Million by 2028.
The market stood at a revenue of USD 275.1 Million in the year 2021, and is expected to exhibit a Compound Annual Growth Rate (CAGR) of 17.1%, states Vantage Market Research, in a report, titled “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)”.
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Market Dynamics:
Introduction of 3D in Research Methods to Reproduce the Human Tissues/Organs Propels the Market
Lungs are a very important organ in the human body and disfunctioning of this organ create great damage. In vitro model is used to address the introduction of 3D in research methods to reproduce the human tissues/organs. It is also used in drug screening and provide better alternatives for reducing experiments on animals. Thus, all these benefits are responsible for augmenting the growth of Lung in Vitro Model Market in recent years. In addition, increasing occurrences of lung diseases such as, Chronic Obstructive Pulmonary Disease (COPD), Idiopathic Pulmonary Fibrosis (IPF), asthma, and lung cancer is propelling the growth of Lung in Vitro Model Market in coming years. Furthermore, stringent regulations to minimizing animal experimenting is also expected to propel the growth of Lung in Vitro Model Market over the projected year.
Emergence of Advanced 3D in Vitro Model Fuels the Market Demand
The major consumer of lung in vitro model are research organizations & academics, government research institutes, life-science companies and biotechnology & pharmaceutical companies. The high usage of this model in various organization is accelerating the growth of Lung in Vitro Model Market in upcoming years. In addition, rising research projects on lung disorders, emergence of advanced 3D in vitro models and rising adoption of 3D cell culture are some major factors that influencing the growth of Lung in Vitro Model Market during projected years.
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COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the electronics industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The Report on Lung in Vitro Model Market Highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Market
North America accounted for the largest share of Lung in Vitro Model Market during forecast period. Large presence of market players, established healthcare infrastructure and growing animal welfare regulations & related awareness programs are some of the key factors that bolstering the growth of Lung in Vitro Model Market in this region. In addition, rising research activities, supportive healthcare policies, maximum investments for new product development and favourable government initiatives are expected to drive the Lung in Vitro Model Market demand in this region.
List of Prominent Players in the Lung in Vitro Model Market:
- Epithelix (Switzerland)
- Mat Tek Corporation (US)
- Lonza (Switzerland)
- ATCC (US)
- InSphero (Switzerland)
- Emulate (US)
- AlveoliX (Switzerland)
- Oncotheis (Switzerland)
- Insphero (Switzerland)
- Tiss Use (Switzerland)
- Mimetas (Netherlands)
- CN Bio Innovations (UK)
Browse market data Tables and Figures spread through 120 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)" View detailed Research Report here - https://www.vantagemarketresearch.com/press-release/lung-in-vitro-model-market-830013
Recent Developments:
September, 2021: BICO Launches 3D Bioprinting contract research offering from CELLINK, MatTek and Visikol. The three companies have joined forces to present customers a first of its kind full-service 3D biomanufacturing and in vitro analysis service.
June, 2018: InSphero AG, announced that they have received USD 10 million for their research on discovery platforms for cancer and metabolic diseases. InSphero AG is an innovator and a provider of 3D cell-based platforms in efficacy testing and drug discovery.
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Lung in Vitro Model Market?
- How will the Lung in Vitro Model Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Lung in Vitro Model Market?
- What is the Lung in Vitro Model market drivers and restrictions?
- What will be the CAGR and size of the Lung in Vitro Model Market throughout the forecast period?
This market titled “Lung in Vitro Model Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, and Quantitative Date – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 275.1 Million |
| Projected Market Size in 2028 | USD 976.1 Million |
| CAGR Growth Rate | CAGR of 17.1% From 2022 – 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Type • 2D Cell Models • 3D Cell Models Application • Drug Screening • Toxicology • Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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