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In-Vitro Lung Model Market Outlook, Trends, Analysis, Insights, Overview And Forecast To 2033
In-Vitro Lung Model Market Outlook
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According to The Business Research Company's, The in vitro lung model market size has grown exponentially in recent years. It will grow from $0.37 billion in 2023 to $0.44 billion in 2024 at a compound annual growth rate (CAGR) of 21%. The growth in the historic period can be attributed to growing prevalence of respiratory diseases, increased focus on personalized medicine, growing interest in drug repurposing, emphasis on precision medicine approaches, growing awareness of environmental health risks.
The vitro lung model market size is expected to see exponential growth in the next few years. It will grow to $0.96 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%. The growth in the forecast period can be attributed to drug development needs, rise in preclinical testing, increasing awareness of respiratory toxicology, focusing on regenerative medicine, growing environmental concerns, increasing geriatric populations. Major trends in the forecast period include increased demand for drug testing, advancements in 3D printing technology, advancements in organ-on-chip technology, integration of AI and machine learning, integration of sensors and monitoring devices, expansion of applications beyond pharmaceuticals, development of disease-specific models.
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Market Drivers and Trends:
The increasing healthcare expenditure is expected to propel the growth of the external pacemaker market going forward. Healthcare expenditure refers to the total amount of money spent on healthcare goods and services within a specific period, typically on a national or institutional level. Investment in healthcare can support research and development efforts in the field of external pacemaker leading to an advancements in technology, improved access to device, and a more comprehensive approach to individuals health and healthcare systems. For instance, in May 2023, according to the UK's Office for National Statistics, a UK based government agency, healthcare spending in the UK increased by 9.4% nominally and 9.7% practically. The total cost of healthcare in the UK in 2021 was $367.25 billion (£280.7 billion), pharmaceutical costs were $51.84 billion (£39.6 billion), and spending on preventative care increased significantly in 2021, reaching $45.93 billion (£35.1 billion). Therefore, the increasing healthcare expenditure is driving the growth of the external pacemaker market.
Major companies operating in the invitro lung model market are developing 3D respiratory tissue models to enhance their models' physiological relevance and complexity. 3D respiratory tissue models are created by culturing selected respiratory cells in a specialized environment, allowing them to assemble into a three-dimensional structure miming the respiratory system's function and morphology, providing a more physiologically relevant platform for research and drug testing. For instance, in April 2023, MatTek Corporation, a US-based biotechnology company, introduced EpiNasal, an innovative 3D respiratory tissue model made from primary human nasal epithelial cells. It replicates the three-dimensional structure and functionality of nasal epithelium, including mucus-producing goblet cells, functional tight junctions, and cilia that beat. The introduction of EpiNasal expands MatTek's portfolio of 3D respiratory tissue models. This model offers a comprehensive system for studying the effects of pharmaceuticals, chemicals, pathogens, and consumer products on the human respiratory system.
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Major Key Players of the Market:
Thermo Fisher Scientific Inc., Lonza Group AG, PerkinElmer Inc., Charles River Laboratories International Inc., Varian Medical Systems Inc., Epithelix, The Charles StarkLaboratory Inc. , STEMCELL Technologies, American Type Culture Collection (ATCC), BioIVT, InSphero, Emulate Inc., PhoenixBio Co. Ltd., Newcells Biotech, CN Bio Innovations Ltd., Mimetas, Cyfuse Biomedical K.K., 3D Biotek LLC, AlveoliX AG, AxoSim Technologies LLC, Elveflow, Hesperos Inc., Kugelmeiers Ag, SynVivo Inc., VITROCELL Systems GmbH
In-Vitro Lung Model Market 2024 Key Insights:
• The vitro lung model market size is expected to see exponential growth in the next few years. It will grow to $0.96 billion in 2028 at a compound annual growth rate (CAGR) of 21.1%.
• Increasing Clinical Studies Propel Growth Of In Vitro Lung Model Market
• Advancements in 3D Respiratory Tissue Models
• North America was the largest region in the in-vitro lung model market in 2023
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