The most recent study conducted by Report Ocean, titled “Global Vitro Lung Model Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Vitro Lung Model. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global In Vitro Lung Model Market Size study, By Type (2D Models, 3D Models), By Application (Applications of 2D Models {Drug Discovery and Toxicology, 3D Model Development, Basic Research}, Applications of 3D Models {Drug Discovery and Toxicology, Physiological Research, Stem Cell Research and Regenerative Medicine}), and Regional Forecasts 2022-2028Global In Vitro Lung Model Market is valued approximately USD 317.37 million in 2021 and is anticipated to grow with a healthy growth rate of more than 17.5% over the forecast period 2022-2028.
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The in vitro lung model is a cell model that elaborates the normal or diseased lung physiology. This model works like lung tissue, in terms of functionality and physiology, and also facilitates a prognostic for in vitro screening. Animal testing is the most prevalent model that is highly used to analyze the impact of various diseases but with the rising inclination for reducing animal experimentation, in vitro alternatives are gaining huge traction among researchers and scientists. The growing focus on developing substitutes for animal testing models, continuous technological developments of new 3D in vitro models, availability of funding coupled with rising incidences of chronic diseases such as asthma, lung cancer, and COPD are the major factors that are surging the market demand across the globe.
As per the WHO, chronic obstructive pulmonary disease (COPD) is the third major reason of fatalities worldwide, which leads to 3.23 million fatalities in 2019. Moreover, as per the American Lung Association, there were nearly 15.3 million people were diagnosed with COPD in 2017 and the amount reached 16.4 million people in 2018. Therefore, rising incidences of lung-associated diseases are fueling the demand for the in vitro lung model in the impending years. However, the shortage of skilled professionals and complex processes for in vitro models impedes the growth of the market over the forecast period of 2022-2028. Also, the growing number of drug discovery activities and rising applications in oncology research, tissue engineering, and regenerative medicine is anticipated to act as a catalyzing factor for the market demand during the forecast period.
The key regions considered for the global In Vitro Lung Model market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing number of R&D activities by pharmaceutical and biotechnology companies and the presence of the leading market players. Whereas, Asia-Pacific is anticipated to exhibit the highest CAGR over the forecast period 2022-2028. Factors such as increasing government initiatives, as well as developing health care infrastructure, would create lucrative growth prospects for the In Vitro Lung Model market across the Asia-Pacific region.
Major market players included in this report are:
Epithelix Srl
MatTek Corporation
Lonza Group
ATCC Company
InSphero AG
Emulate Company
AlveoliX AG
Oncotheis Ltd.
TissUse GmbH
CN Bio Innovations Ltd.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Components offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
2D Models
3D Models
By Application:
Applications of 2D Models
Drug Discovery and Toxicology
3D Model Development
Basic Research
Applications of 3D Models
Drug Discovery and Toxicology
Physiological Research
Stem Cell Research and Regenerative Medicine
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Russia-Ukraine War on Market
The market is anticipated to suffer because of the Russia-Ukraine War. The demand for the market has decreased as a result of the political unrest and economic unrest in the area. The war had a detrimental impact on global economic activity, adding to inflationary pressures globally and hindering the post-pandemic recovery, even if it was not the primary cause of the slower-than-anticipated economic growth in 2022 and revised estimates for 2023.
The Five Forces analysis examines the following factors:
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
The PESTLE analysis takes into account the following dimensions:
- Political factors: This includes political policies, stability, and factors related to trade, fiscal policies, and taxation policies.
- Economic factors: This involves analyzing interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates.
- Social factors: These encompass changing family demographics, education levels, cultural trends, shifts in attitudes, and changes in lifestyles.
- Technological factors: This examines changes in digital or mobile technology, automation, and research and development in the relevant industry.
- Legal factors: This entails analyzing employment legislation, consumer law, health and safety regulations, as well as international trade regulations and restrictions.
- Environmental factors: This dimension considers aspects such as climate change, recycling procedures, carbon footprint, waste disposal, and sustainability practices.
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