In vitro lung models are experimental models that mimic the complex structure and functions of the human lung system outside of a living organism (in vitro). These models can be cultivated from lung cell lines or lung tissue sections and are utilized for research applications such as disease modeling, testing drug safety and efficacy. The global in vitro lung model market is gaining traction due to advantages like cost effectiveness, repeatability, high-throughput and human-relevant results compared to animal models. The need for alternative models for lung toxicity testing and drug screening is driving the demand for in vitro lung models.
The global In Vitro Lung Model Market is estimated to be valued at US$ 279.8 Mn in 2023 and is expected to exhibit a CAGR of 14.% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The opportunity for drug development and testing will drive the growth of the in vitro lung model market. In vitro lung models provide advanced environment to closely mimic human lung tissue and disease conditions. This enables pharmaceutical companies to test drug safety and efficacy during development at a fraction of the cost and time required for animal and human trials. The improved predictive ability of in vitro lung models reduces risks of drug attrition and failure in later stages of development. The growing usage of 3D bioprinted human lung tissue mimetics for personalized medicine will further support the adoption of in vitro models in pharmaceutical research and development over the forecast period.
Porter's Analysis
Threat of new entrants: The threat of new entrants is moderate as significant capital investments would be required to enter the market and compete with established players. However, the growing demand and market opportunities could encourage new players to enter.
Bargaining power of buyers: The bargaining power of buyers is high as there are many alternatives available in the market. Buyers can negotiate on price and demand customized services.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key raw materials and components come from a limited number of suppliers. Switching costs are also moderate.
Threat of new substitutes: The threat of substitutes is low as in vitro lung models have limited close substitutes. New technological advancements could introduce substitutes over the long term.
Competitive rivalry: The competitive rivalry is high due to the presence of many international players competing on product quality, pricing, services, and innovation.
SWOT Analysis
Strengths: Growing demand for alternatives to animal testing. Ability to study human lung physiology and diseases.
Weaknesses: High setup and operating costs. Limited lung tissue availability. Complexities in replicating complex lung physiology.
Opportunities: Emerging economies present new market opportunities. Potential in personalized medicine and drug discovery. Growing funding for research.
Threats: Stringent regulations surrounding safety and ethics. Slow adoption rate impacting revenue generation. Intense competition reducing margins.
Key Takeaways
The global in vitro lung model market is expected to witness high growth over the forecast period.
Regional analysis: North America currently dominates the market due to presence of major players, availability of advanced research infrastructure, and growing adoption of 3D organoid models by pharmaceutical companies. Europe and Asia Pacific are also expanding significantly.
Key players: Key players operating in the global in vitro lung model market are Epithelix, MATTEK, Lonza, Emulate, AlveoliX AG, Nortis, CN Bio Innovations Ltd, MIMETAS, InSphero, ATTC Global, Tissuse GmbH and Cn Bio Innovations Limited. These companies focus on product innovation and geographic expansion to strengthen their market position.
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A new research report titled global Lung In Vitro Model Market report published by Reports and Data provides a brief overview of the industry and gives an estimation of growth and revenue for the forecast period of 2021-2028.
The report further analyzes market segments, size, trends, growth drivers, restraining factors, opportunities and challenges, cost overview, SWOT analysis, and Porter’s Five Forces Analysis.
The report all includes industrial chain analysis, revenue growth, sales estimation, value chain analysis, capacity, regional market examination, and market forecast up to 2028.
The report offers insightful information that will assist in gaining a market position and maximize on lucrative growth opportunities.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/4033The report provides a panoramic view of the market and insights that will help formulate better business decisions.
In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions.
The report also discusses in detail about the key factors influencing the market growth.Key companies operating in the market include:Epithelix (Switzerland), MatTek Corporation (US), Lonza (Switzerland), ATCC (US), InSphero (Switzerland), Emulate (US), AlveoliX (Switzerland), Oncotheis (Switzerland, TissUse (Switzerland), Mimetas (Netherlands), and CN Bio Innovations (UK).
