The global lung in vitro models market is projected to grow at a CAGR of 17.5%

LONDON, June 4, 2018 /PRNewswire/ -- The global lung in vitro models market is projected to grow at a CAGR of 17.5%.
The lung in vitro models 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%. Focus on developing alternatives for animal testing models, advancements in 3D cell culture technology, and the development of new 3D in vitro models are factors driving the growth of this market. However, the dearth of skilled professionals is expected to challenge market growth during the forecast period.

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The 3D models segment is expected to grow at the highest CAGR during the forecast period.
The lung in vitro models market is segmented into 2D cell models and 3D cell models. 3D cell models are further segmented into in-house 3D models and commercialized 3D models (ready-to-use). 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.

The drug discovery and toxicology applications of 3D lung in vitro models to grow at the highest rate during the forecast period
Based on application, the market is segmented applications of 2D models and 3D models.Applications of 2D models include drug discovery and toxicology, 3D model development, and basic research and the applications of 3D models include drug discovery and toxicology, physiological research, and stem cell research & regenerative medicine.

The drug discovery and toxicology segment of 3D models are also expected grow at the highest CAGR in 2018.

APAC to witness the highest growth during the forecast period.
The APAC region is expected to register the highest CAGR during the forecast period. A growing economy, increasing healthcare investments which lead to increased research activities and in drug discovery, improving public health awareness of lung diseases, and increased funding for lung research are key market drivers in Asia Pacific.

Break of primary participants was as mentioned below:
• By Company Type – Tier 1–45%, Tier 2–34% and Tier 3–21%
• By Designation – C-level–59%, Director Level–28%, Others–13%
• By Region – North America–40%, Europe–32%, Asia Pacific–20%, RoW–8%

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).

Research Coverage:
The report analyzes the lung in vitro models market and aims at estimating the market size and future growth potential of this market based on various aspects such as type, application, and region. The report also includes an in-depth market trend analysis for various regions across the globe and competitive analysis of the key players along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report
The report will help established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in-turn would help them, garner a greater market share. Firms purchasing the report could use one or any combination of the below-mentioned strategies to strengthen their position in the market.

This report provides insights on the following pointers:
• Market Penetration: Comprehensive information about the product portfolios offered by key players in the global lung in vitro models market. The report analyzes the global lung in vitro models market by equipment and software, application, end user, and region
• Product and Service Innovation: Detailed insights on upcoming trends and new product and service launches in the global lung in vitro models market
• Market Development: Comprehensive information about the lucrative emerging markets by type, application, and region
• Market Diversification: Exhaustive information about new products, growing geographies, recent developments, and investments in the global lung in vitro models market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, products in the pipeline of leading players in the global markets

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