The global lung in Vitro Models Market is expected to reach USD 427.4 million by 2023 from USD 190.5 million in 2018, at a CAGR of 17.5%. Factors such as growing focus on developing alternatives for animal testing models, advancements in cell culture technologies, and the development of new 3D in vitro models are expected to drive the growth of this market.
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In this report, the market is segmented on the basis of type of cell models, 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.
Geographically, North America is expected to command the largest share of the global lung in vitro models market in 2018. Flourishing research environment and abundant funding programs, and increased R&D activities by biotechnology and pharmaceutical companies are driving growth in the lung in vitro models market in North America. On the other hand, 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 about lung diseases, and increased funding for lung research are key market drivers in Asia Pacific.