According to a new market research report "In Vitro Lung Model Market by Type (2D, 3D (In-house, Commercial)), Application (Drug Screening, Toxicology, 3D Model Development, Basic Research, Physiologic Research, Stem Cell Research, Regenerative Medicine) - Global Forecasts to 2023", published by MarketsandMarkets™, the market is expected to reach USD 427.4 Million by 2023 from an estimated USD 190.5 Million in 2018, at a CAGR of 17.5%. Factors such as growing focus on developing alternatives for animal testing models, technological advancements, and the development of new 3D in vitro models are expected to drive market growth.
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2D models are expected to account for the largest share of the lung In Vitro Models Market in 2018
Based on type, the market is segmented into 2D cell models and 3D cell models. The 2D models segment is expected to account for the largest share of the market owing to its use historically.
Additionally, 2D models/cell lines are used in the research and development of 3D models. However, the 3D cell models segment is projected to grow at the fastest rate during the forecast period owing to the rising need for efficient lung in vitro models that mimic in vivo physiology.
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The drug discovery and toxicology applications of 3D models are expected to grow at the highest CAGR during the forecast period
Based on application, the market is segmented applications of 2D models and 3D models. Applications of 3D models include drug discovery and toxicology, physiological research, and stem cell research & regenerative medicine.
The drug discovery and toxicology segment is also expected grow at the highest CAGR during the forecast period owing to increasing adoption of 3D models in this area.
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North America to command the largest share of the lung In Vitro Models Market in 2018
North America held the largest share of the lung In Vitro Models Market in 2017. Flourishing research environment and abundant funding programs from organizations such as the National Institutes of Health (NIH) and increased R&D activities by biotechnology and pharmaceutical companies are driving the growth of the lung In Vitro Models Market in North America.
The major players in the Lung In Vitro Models 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).
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