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Organoids Market Driven By Definigen, Organoid Therapeutics, Hubrecht Organoid Technology, Cellesce
Organoids Market
The organoids market was valued at US$ 689.47 million in 2019 and it is projected to reach US$ 3,420.40 million by 2027; it is expected to grow at a CAGR of 22.1% from 2020 to 2027.
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Organoids are tiny, self-organized three-dimensional tissue cultures that are derived from stem cells. Such cultures can be crafted to replicate much of the complexity of an organ, or to express selected aspects of it like producing only certain types of cells. Organoids grow from stem cells—cells that can divide indefinitely and produce different types of cells as part of their progeny. Organoids can range in size from less than the width of a hair to five millimeters.
The implementation of organoids to create personalized drug therapies is providing some exciting opportunities for improving patient care. Recent research has highlighted that more than 50% of consumers express an interest in purchasing customized products or services. This demand would require adaptation by multiple industries, including the pharmaceutical sector. Since the Precision Medicine’s Initiative was released in the US in 2015, pharmaceutical research has been pursuing the development of more tailored treatments in an attempt to make medicines safer and effective.
Personalized medicine is a growing area of treatment that relies on specific drug delivery and dosing. As per a study published by Personalized Medicine Coalition (PMC), in 2005, personalized medicines accounted for only 5% of the new FDA approved molecular entities; whereas, they accounted for more than 25% in 2016. Additionally, 42% of all compounds and 73% of oncology compounds in the pipeline have the potential to be personalized medicines. Moreover, biopharmaceutical companies nearly doubled their R&D investment in personalized drugs over the past five years, which is likely to increase by 33% in the next five years. Biopharmaceutical researchers also predict a 69% increase in the development of personalized medicines over the coming five years.
Organoids Market: Competition Landscape and Key Developments
STEMCELL Technologies, Inc, Cellesce Ltd., Hubrecht Organoid Technology, Definigen, 3Dnamics, Inc., Organoid Therapeutics, PeproTech, Inc., Thermo Fisher Scientific, Corning Incorporated (Life Sciences) and Merck KGgA. are among the key companies operating in the global organoids market. Leading players are focusing on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.
In October 2019, Corning Incorporated launched two new products—Elplasia and Matrigel—to its organoid culture portfolio to provide new solutions to support spheroid and organoid culture models. Elplasia, a 3D cell culture microplate, features a microcavity technology that enables high-volume spheroid formation, culture, and analysis. The Matrigel matrix for organoid culture is optimized to support organoid growth and differentiation.
In Sep-2018, STEMCELL Technologies Signed a partnership agreement with Brigham and Women’s Hospital to commercialize a human pluripotent stem cell-derived kidney organoid culture system.
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