Global In Vitro Lung Model Market, By Type (2D Model, 3D Model), By Application (Drug Discovery & Toxicology Studies, Physiological Research, 3D Model Development, Others), By End User (Academic and Research Institutes, Biopharmaceutical Companies, Others), By Geography (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)

Published In : Jan 2024

Code : CMI6544

Pages :176

Formats :

Excel and PDF

Industry : Medical Devices

Leading Companies

Global In Vitro Lung Model Market- Regional Insights

North America is expected to be the largest market for in vitro lung model during the forecast period, accounting for over 35.7% of the market share in 2023. North America has firmly established itself as the dominating region in the global in vitro lung model market. The region is home to the majority of key players in this domain who have been investing heavily in R&D to develop advanced 3D lung models. With strong industry presence of pharma and biotech companies who are important clients for lung models, the demand continues to remain high in the region. The regulatory environment also supports continued research and development of new models. Strict safety and efficacy guidelines by regulatory bodies have increased the need for companies to validate new drugs using sophisticated lung models before clinical trials.
Asia Pacific market is expected to be the second-largest market for in vitro lung model, accounting for over 25.2% of the market share in 2023. Asia Pacific region has emerged as the fastest growing market for in vitro lung models globally. The region represents an untapped potential for market players and is witnessing increasing focus on setting up manufacturing and distribution networks. China and India owing to their large population and growing healthcare expenditure are key focus markets. Expanding biosimilar manufacturing capabilities in these countries have further boosted demand. Additionally, import of these highly technical models was restricted till recently due to stringent trade policies of these developing nations. However, with relaxing of regulations, many local smaller companies have started importing cost-effective models for their internal research work from global suppliers which is propelling the market growth. Overall increasing R&D investment, presence of contract research organizations and rising adoption of 3D tissue models for preclinical activities are some of the factors spurring faster market growth of in vitro lung models in the Asia Pacific region.
Europe market is expected to be the fastest-growing market for In vitro lung model, with a share of 19% during the forecast period. The growth of the market in Europe is attributed to the increasing research and development activities in the region.

Top Companies in Global In Vitro Lung Model Market