Number of pages: 100 | Report Format: PDF | Published date: November 28, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global organoids market was pegged at US$ 691.32 million in 2021 and is expected to register a revenue CAGR of 21.67% during the forecast period.
Organoids are three-dimensional miniatures of stem cell derived tissue culture. It represents the simplified version of realistic micro-anatomy. It can be derived by direct differentiation of pluripotent stem cells or organ specific adult stem cells. Organoids can recognize the target and non-target actions and interactions of the candidate therapy for improved humanized therapies and pharmaceuticals. It is used not only in cancer research and drug discovery, but also in regenerative medicine and as a therapeutic tool since it offers potential advantages over animal models. The global organoids market is expected to account for a sizeable revenue share during the forecast period because of the expansion of drug discovery applications.
The market revenue growth is expected to be driven by the increasing acceptance of tailored pharmaceuticals, the rising need for tumor modeling and biobanking and growing attention to discover alternatives to animal testing models. The possibility of using organoids as cell treatments and as a future replacement for whole-organ transplantation has increased significantly because of the development of 3D cell cultures that mimic human organs. Organoids are likely to be used more frequently in the coming years as the trend toward personalized therapy grows. However, despite the promising characteristics of organoids, their wide range of applications is constrained by several obstacles such as the lack of high-fidelity cell types, restricted maturation, and abnormal physiology. Moreover, problems related to the integration of organoids into current workflows and a shortage of skilled workers are also expected to have a detrimental effect on market growth. The market for organoids is expected to grow faster as organoid cultures are increasingly used to analyze the mechanisms underlying human-specific illnesses.
The global organoids market has been analyzed from four perspectives: product, application, source, end user, and region.
Organoids Market by Product
Based on product, the market has been segmented into hepatic organoids, intestinal organoids, pancreatic organoids, colorectal organoids, neural organoids, and others.
In terms of revenue, the hepatic organoids segment accounts for the largest revenue share in the market. The large revenue share of the hepatic organoids segment can be attributed to the rising demand to address the hepatic damages due to the rise in alcohol consumption, diabetes, obesity, and other disorders linked with the liver. One of the recommended therapies for a patient suffering from liver failure due to any type of cirrhosis is a liver transplant. Therefore, the market for the hepatic organoid model is undoubtedly expanding given the increased demand for and the likelihood of success of surgical intervention among other organs.
Organoids Market by Type
Based on type, the market for organoids is segmented into the intestine, stomach, liver brain, pancreas, kidney, lung, and others.
Among these segments, the intestinal segment accounts for the largest revenue share in the market. This large revenue share of the intestinal segment can be attributed to the development of numerous experimental procedures used in association with intestinal organoid cultures.
The kidney segment is also expected to register significant revenue growth during the forecast period.
Organoids Market by Application
Based on application, the global organoids market is segmented into bio-banking, biomedical research drug discovery, regenerative medicine, cancer research, therapeutic tools, and developmental biology.
Among these segments, the developmental biology segment accounts for the largest revenue share in the market. This large revenue growth is attributed to the fact that developmental biology is regarded as a main investigative study instrument of human developmental biology.
Organoids Market by Source
Based on the source, the global organoids market is segmented into cells specialized to organs and pluripotent stem cells.
The pluripotent stem cells segment accounts for the largest revenue share in the market. This large revenue of this segment is attributed to the fact that pluripotent stem cells are regarded as a crucial resource for regenerative medicine to replace diseased or damaged tissues. Furthermore, pluripotent stem cells have several biological applications including fundamental research, pharmacological testing, toxicological analysis, disease modeling, and cell therapy.
Organoids Market by End User
Based on the end user, the organoids market is segmented into biopharmaceutical companies, contract research organizations, academics, and research Institutes.
The biopharmaceutical company segment dominates the organoids market with the largest revenue. The high revenue growth of this segment can be attributed to the frequent visits of patients to hospitals for diagnosis and treatment of various cellular as well as organ disorders.
Organoids Market by Region
Based on the region, the global organoids market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The organoids market is dominated by the North America, followed by Europe and Asia Pacific.
North America accounts for the largest revenue share in the global organoids market. The dominance of North America can be attributed to the early approval of medicines made from plasma and the growing usage of organoids in several therapies in this region. Recently, using human organoid culture technology, STEMCELL Technologies, Inc. conducted projects in collaboration with the University of British Columbia (UBC) at Genome British Columbia in April 2021 to test thousands of FDA-approved medications and clinical-stage drugs individually or in combination for drug repurposing against the SARS-CoV-2 infection.
The major companies operating in the organoids market are:
The key factors governing the revenue growth of the global organoids markets are customized medications, the increasing need for tumor modeling and biobanking, and growing interest in finding alternatives to animal testing models.
The major 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.
The dearth of high-fidelity cell types, a lack of adequate maturity, and aberrant physiology are the major factors that are expected to hinder the market revenue growth to some extent.
The global organoids market was pegged at US$ 691.32 million in 2021 and is expected to register a revenue CAGR of 21.67 % during the forecast period.
*Insights on financial performance are subject to the availability of information in the public domain