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Organoids Market Growth Forecast Through 2020-2030 With Upcoming Trends and Opportunities
According to the report, the global organoids market was valued over US$ 1.7 Bn in 2019 and is projected to expand at a high CAGR from 2020 to 2030. Organoids are replicated or miniaturized versions of organs such as stomach, liver, lung, kidney, and brain produced from stems cells in vitro. These miniature models are three-dimensional tissue culture derived from stem cells. The stem cells are derived from pluripotent and organ specific stem cells.
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The global organoids market is driven by rise in prevalence of various diseases, sudden outbreak of infectious diseases in 2020, and development of organoid models for studying various disease modeling, which are expected to boost the organoids market during the forecast period. Technological advancements leading to the development of organoids for diagnosis and studying patient-derived tumors.
North America dominated the global organoids market in 2019, followed by Europe and Asia Pacific. North America’s dominance can be ascribed to technological advancements, development & adoption of organoid models that resemble various organs, and high clinical R&D expenditure by both governments and private players are likely to drive the organoids market in North America during the forecast period.
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Organoids as Therapeutic Tools to Drive Global Market
Organoids are considered prominent tools for discovery of drugs, diagnosis, and development of treatment for various chronic diseases. Rise in prevalence and increase in incidence of various diseases drive scientists and researchers to continue research on organoid models to study human physiology and disease modeling. Organoids are considered innovative approach for drug discovery, disease modeling through stem cell research, and innovating personalized medicines. These factors enable faster adoption of organoids as therapeutic tools across the globe.
Amidst the COVID-19 pandemic, researchers are using organoids as prominent tools to study the coronavirus disease, modelling, and development of treatment. Organoids are considered powerful tools for respiratory diseases or infections. These factors are anticipated to propel the global organoids market.
Organoids Market: Prominent Regions
The global organoids market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global organoids market in 2019, followed by Europe and Asia Pacific. The presence of prominent players conducting various studies using organoid models is a major factor boosting the growth of the organoids market in North America. In April 2020, STEMCELL Technologies, Inc. conducted projects in alliance with the University of British Columbia (UBC) at Genome British Columbia for testing thousands of FDA-approved drugs and clinical stage compounds alone or in combination for drug repurposing against SARS-CoV-2 infection by using human organoid culture technology.
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The organoids market in Europe is anticipated to expand at a high CAGR from 2020 to 2030. The presence of key players offering organoids, technological advancements, large patient pool, increase in the geriatric population, and rise in prevalence of chronic diseases are anticipated to boost the growth of the organoids market in the region. Moreover, the company offers innovative portfolio of organoid models for drug screening, development of regenerative medicine, personalized medicine, and other therapeutic application. This is expected to fuel the growth of the organoids market in Europe during the forecast period.
Investments toward Development of Innovative Organoid Product Offerings and Geographic Presence of Key Players to Drive Global Market
The global organoids market is consolidated in terms of number of players. The market is dominated by key players with innovative product offerings, robust geographic presence, and large investments in research & development. Leading players operating in the global organoids market include 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. Prominent players have introduced innovative organoid models amidst the COVID-19 pandemic to study the disease pathology and develop innovative treatment. Moreover, companies are investing in continuous research & development for wide therapeutic applications.
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In February 2020, Cellesce Ltd. published application of patient-derived organoids in the early cancer drug discovery, which would offer significant benefits to cancer patients. The company invests in continuous research and development for identifying tumor derived organoid as a novel solution for the drug discovery and its benefits in the cancer research.
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