The market across North America garnered the major share in 2019. Asia-Pacific, on the other hand, is expected to register the fastest CAGR from 2020 to 2027.

Portland, OR, Jan. 18, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the global 3D cell culture market generated $1.23 billion in 2019 and is expected to reach $3.72 billion by 2027, growing at a CAGR of 16.3% from 2020 to 2027. The report highlights the key segments, top investment pockets, growth by segmentation, and competitive scenario.

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Ravi Telugunta, Lead Analyst, Healthcare at Allied Market Research, highlighted, “The global 3D cell cultures market is driven by growth in investments toward R&D activities, advantages of 3D culture techniques over 2D techniques, shift in preference toward 3D cell cultures for cancer research, and upsurge in demand for organ transplantation. In addition, rise in incidence of cancer has led to increase in grants and funds from government agencies to identify the growth factors that lead to cancer and develop a cure for the same. This has led to increase in demand for 3D cell culture in cancer research, as it allows researchers to study various tumor characteristics.”

According to the report, the market across North America contributed to around two-fifths of the total market share in 2019, and is expected to lead the trail by 2027. This is due to the advancements in various healthcare applications such as cancer and tissue engineering in the region. At the same time, the market across Asia-Pacific is expected to grow at the fastest CAGR of 18.1% from 2020 to 2027. This is attributed to rise in demand for drug discovery, increase in focus on the biotechnology industry, low operating costs of laboratories, and surge in government investments for health care.

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The global 3D cell culture market is analyzed across product, application, end-user, and region. Based on product, the scaffold-based platforms segment garnered the major share in 2019, contributing to nearly one-third of the global market. This is owing to the availability of a variety of materials and structural choices and advantages such as ease of imaging and simple assay protocol. Simultaneously, the microchips segment is projected to exhibit the fastest CAGR of 19.0% throughout the forecast period, since they are easy to fabricate and quite economical in nature.

Based on end user, the academic institutes segment held the highest share in 2019, generating more than one-third of the global 3D cell culture market. This is because several institutes and universities across the world are exploring the possible outcomes of using 3D cell culture in their research projects. The contract research laboratories segment, on the other hand, is anticipated to manifest the highest CAGR of 16.9% throughout the forecast period, due to increase in its adoption by prominent companies across the globe.

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The global 3D cell culture market report includes a comprehensive analysis of the major market players such as 3D Biotek, LLC, Advanced Biomatrix, Inc., Avantor, Inc., Becton, Dickinson, and Company, Corning Incorporated, InSphero AG, Lonza Group Ltd., Merck & Co., Inc., Synthecon, Incorporated, and Thermo Fisher Scientific Inc.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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