Rising need for tumor modelling and biobanking & growing attention to discover alternatives to animal testing models is driving the market growth

calendar_today 01 December, 2022 person_outline Growth Plus Reports

According to the deep-dive market assessment study conducted by Growth+ Reports, the global organoids market was pegged at ~US$ 691.32 million in 2021. The market is expected to witness a CAGR of ~21.67% from 2022 to 2030. 

The global organoids market is expected to be driven by factors such as the prevalence of chronic and infectious diseases, as therapeutic tools, and in drug discovery and personalised medicine. The market is also anticipated to be driven by rising demand for tumour modelling and biobanking, increased adoption of customised medications, and growing interest in finding alternatives to animal testing models. With the advent of 3D cell cultures that resemble human organs, the potential for using organoids as cell therapies and potential substitutes for whole-organ transplantation has dramatically expanded. The use of organoids is projected to increase in the coming years as the trend toward individualised medicine intensifies. For instance, in August 2022, Wuhan University TaiKang Medical School reported that, over the past ten years, there has been an increasing development trend in the number of annual patent applications, which has particularly started to expand exponentially after 2015. Notably, the creation of organoid models is covered by 76.64% of patents. In terms of physiological models, the top three are intestine, liver, and brain models, whereas 76.30% of all disease model patents are for tumour models.

The market for commercial human organoids is expected to rise dramatically over the coming years. Prominent players are increasingly concentrating on cooperative endeavours to produce more effective treatment alternatives for life-threatening disorders, along with research & medical institutes, researchers & scientists globally. During the forecast period, these cooperative efforts are anticipated to further fuel the market for plasma-derived therapies. For instance, The Living Biobank from HUB Organoid Technology has offered a large selection of commercial organoids, CRISPR/Cas9 technology for genetic disease research using organoids, and medication response tests for clinical researchers.

By providing the required money, grants, permissions, clearances, and approvals to cater the requirements of the healthcare sector, government authorities around the world are embracing a few initiatives and techniques to speed up the development of such goods & therapies. More than 47 projects including the organoid industry are financially supported by the Canadian government. Furthermore, the EU government made recommendations for identifying medications that can stop SARS-CoV-2 infection in its early stages.

However, organoids do have certain promising qualities, but despite this, there are still several challenges that need to be overcome before vast range of applications are fully realised. These difficulties include a dearth of high-fidelity cell types, a lack of adequate maturity, and aberrant physiology, all of which may lessen their dependability for applications.

The global organoids market has been divided into five geographic segments: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2021, North America ruled the global market for organoids. The growth in patients with various diseases, increased investment in R&D, marketing of organoid models, and stem cell research can all be attributed to this. Throughout the forecast period, the European market is probably going to expand quickly. Over the next years, the advancement of cerebral organoids for neurological diseases and the rise in the prevalence of infectious and other diseases are expected to drive the market for organoids in the area. The organoids market in Europe is anticipated to grow over the course of the forecast period because of investments in research and development on cancer, gastrointestinal diseases, liver disorders, for organ regeneration.

Some of the leading companies operating in the organoids market are Thermo Fisher Scientific Inc., Merck KGaA, QIAGEN N.V., GenScript, Promega Corporation, Takara Bio Inc., MERIDIAN BIOSCIENCE Inc., New England Biolabs, Agilent Technologies Inc., Mirus Bio LLC, Sino Biological Inc., and Hubrecht Organoid Technology among others.

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