North America Organoids Market is predicted to remain one of the most attractive markets during the forecast period to 2031

The market in U.K. is likely to grow at a rapid pace during the forecast period. Over the next few years, the organoids market in the country is expected to be driven by the production of cerebral organoids for neurological disorders, as well as an increase in the prevalence of infectious and other diseases.

During the forecast period, investments in cancer, liver diseases, gastrointestinal diseases for organ regeneration, and stem cell research are expected to fuel the organoids market in Europe. 

Organoids are three-dimensional (3D) structures that resemble mammalian organs and are made from stem cells. As per a study by Future Market Insights (FMI), the Global Organoids Market is estimated to reach US$ 44.2 Mn in 2021.

As new platforms for quicker drug development and improved model structures for assessing drug efficacy and toxicity, organoids have the potential to be transformative. Traditional drug discovery approaches are less important and inadequate to keep up with the rapid pace of life science advancements. Organoids are projected to exhibit increasing sales within the drug discovery industry.

The demand for cutting-edge preclinical testing methods has increased as a result of advances in drug therapies such as personalized treatments and expanding medical research to identify new advance medicines. Organoids also are used to shortlist possible drug molecules and remove the remainder by considering 'in-vitro' conditions that are somewhat close to natural environmental conditions.

According to the International Federation of Pharmaceutical Manufacturers and Societies, preclinical research accounts for about 22% of the overall cost of drug production. The use of organoids in drug development shortens the process and saves money, resulting in a greater demand for organoids.

In terms of product, intestinal organoids are expected to register high demand, accounting for over 36% of sales in the market. While application of organoids is expected to be considerably high in bio banking.

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Key Takeaways from Organoids Market Study

The organoids market will exhibit solid growth, registering above 14% CAGR between 2021 and 2031
The expansion of pharmaceutical sector and investment in research initiatives will enable the U.S. account for over 95% sales in North America
The U.K. will emerge as the leading market, exhibiting above 20% y-o-y growth in 2021
Germany and France are expected to emerge as other lucrative markets within the U.K.
China will remain a leading market for organoids in East Asia, however, the Japan market will register a slightly higher rate of growth
“Capability of 3D-organoid cultures to mimic organ functionality as well as increasing adoption of the organoid technology for use in a range of applications, including genetic mutation and other is expected to drive the growth of Organoids market” says the FMI Analyst

Funding for life science research and investments in Organoids products to expand various projects and personnel employed is the major factor expected to boost the organoids market growth.

For instance, the total amount of research grants awarded by the National Institutes of Health (NIH) in the U.S. exceeded US$ $251 million over five years (2015 to 2019).

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Key players in the Organoids are Entering into Strategic Alliance

The top players are focusing on expanding their business footprint through acquisitions. Acquisitions provide the company with strong foot hold of new products, buyer suppliers relationship, and new geographic horizons to tap the market potential. The key manufacturers are targeting towards acquiring well-known products and technologies that are expected to have a successful revenue stream. This also helps the business to grow into new emerging markets while also developing existing ones.

For instance, in September 2020, a Memorandum of Understanding (MoU) was signed by BGI-Qingdao and Ubrecht Organoid Technology (HUB) to develop a joint Next Generation Diagnostics (NGD) centre in China to improve personalised care, better treatments and cures, and faster development of new safe medicines. HUB and BGI will combine their complementary skills and technologies to further improve and incorporate HUB Organoid Technology as predictive diagnostic tests, allowing for reliable patient-specific treatment response prediction, initially with a focus on cancer.

As a result of increased emphasis on oncological research and increased R&D spending, the global organoids market is expected to expand over the forecast period. Organoid’s market is highly competitive exhibiting the presence of several players. Because of the high capital investment required to build an Organoids manufacturing facility, pharmaceutical companies are increasingly looking to outsource the process. The key market players covered by FMI include STEMCELL Technologies Inc., Cellesce Ltd., DefiniGEN, Qgel, Hubrecht Organoid Technology, OcellO B.V. consolidating their positions through mergers, acquisitions and new product launches.

Valuable Insights into Organoids Market

Future Market Insights, in its new offering, provides an unbiased analysis of the organoids market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the market based on product type (intestinal organoids, hepatic organoids, pancreatic organoids, colorectal organoids, and neural organoids), application (bio-banking, biomedical research and drug discovery, regenerative medicines, cancer research, and therapeutic tools), and end user (biopharmaceutical companies, contract research organizations, and academics and research institutes) across seven major regions.

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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

This release was published on openPR.