Global Scaffold Free 3D Cell Culture Market Highlights Over 2022 - 2031
The global scaffold free 3D cell culture market is estimated to garner a large amount of revenue by growing at a significant CAGR over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the growing emphasis on developing alternatives to animal testing, and rising focus on personalized medicine around the world. In the United States alone, a total of 286 personalized medicines were available in 2020. In addition, the investments in these medicines in the country grew by 53% in the years 2011-2015. Along with these, increasing incidences of chronic diseases, and upsurge in funding for cell-based research globally are also expected to drive market growth in the forthcoming years. In 2019, there were more than 15 million deaths from all types of cardiovascular diseases across the globe. Also, cancer and respiratory diseases caused about 9 million and 4 million deaths that same year. Furthermore, escalating investments in the healthcare sector, and growth in the number of cases of infectious diseases, such as H1N1 and influenza, are projected to offer ample growth opportunities to the market in the near future.
The market is segmented by end user industry into pharmaceutical, biotech, and cosmetics, out of which, the pharmaceutical segment is anticipated to hold the largest share in the global scaffold free 3D cell culture market. This can be accounted to the rising preference for alternative testing models over animal techniques in this industry, and increasing investments for R&D activities in pharmaceutical companies. Additionally, on the basis of type, the stem cell culture segment is assessed to occupy the largest share during the forecast period, which can be credited to the growing occurrence of cancer across the globe. Apart from this, allocation of high investments for cancer research by governments worldwide is also predicted to boost the growth of the market segment in the years to come. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Scaffold Free 3D Cell Culture Market Regional Synopsis
Regionally, the global scaffold free 3D cell culture market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Europe is estimated to witness noteworthy growth over the forecast period on the back of the rapidly growing pharmaceutical & biotechnology industry, and rising commercialization of microfluidics-based 3D cell culture in the region. In addition, strong presence of market players is also expected to fuel the market growth in the region in the region in the future. Moreover, the market in North America is projected to acquire the largest share by the end of 2031 owing to the surging prevalence of cancer, and well-established healthcare infrastructure in the region. According to the Centers for Disease Control and Prevention (CDC), in 2018, 1,708,921 new cancer cases were reported and 599,265 people died of the same in the United States. For every 100,000 people, 436 new cancer cases were reported and 149 people died of cancer.
The global scaffold free 3D cell culture market is further classified on the basis of region as follows:
Our in-depth analysis of the global scaffold free 3D cell culture market includes the following segments:
By End User Industry
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
The major factors driving market growth are growing emphasis on developing alternatives to animal testing, and rising focus on personalized medicine around the world.
The market is anticipated to attain a significant CAGR over the forecast period, i.e., 2022-2031.
The major players in the market are Kuraray Co., Ltd, Thermo Fisher Scientific, Inc., Merck & Co., Inc., General Electric Company, Danaher Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, end user industry, and region.
The pharmaceutical segment is anticipated to hold largest market size and is estimated to grow at a robust CAGR over the forecast period and display significant growth opportunities.
High cost of cell culture research is estimated to hamper the market growth.
Asia Pacific will provide more business opportunities for market growth owing to the rapidly growing pharmaceutical & biotechnology industry, and rising commercialization of microfluidics-based 3D cell culture in the region.
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