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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Key Questions Answered in Report
- Which is the most lucrative market for organoids?
North America currently holds dominance in the global organoids market. Within the region, the U.S. has emerged as the leading market.
- Which organoid type exhibits higher sales?
Intestinal organoids are expected to emerge as the leading product category, exhibiting high sales in the market.
- Which are some of the leading companies offering organoids?
Some of the leading companies operating in the organoids market are Cellesce Ltd, DefiniGEN, Qgel, Hubrecht, Organoid Technology (HUB), OcellO B.V., STEMCELL Technologies Inc. and others.
- Which is the key application of organoids?
Bio-banking has emerged as a leading application segment, exhibiting high demand for organoids.
- Who is the leading end user of?
Academic and research institutes are expected to dominate the organoids market over the forecast period as the leading end user.
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