Rising need for early drug toxicity detection, increasing funding for research and initial capital investments to develop organoids, and rising prevalence of liver disorders are some key factors augmenting market growth
New York, January 19,2021- The global human liver models market size is expected to reach USD 5.5 Billion by 2028 and register a CAGR of 13.9% over the forecast period, according to the latest report by Reports and Data. Increasing emphasis on developing enhanced liver models as an alternative to animal testing models is boosting global human live models market revenue growth currently.
The liver plays a vital role in a variety of functions such as production of bile, blood clotting synthesis, and synthesis of glucose. Liver models are obtained from single fetal progenitor live cells. These models offer a virtual ecosystem that mimics molecular process, physiology, and anatomy of the liver. These liver models are known as organoids and are gaining increasing preference over animal testing models. High adoption of human liver models for novel drug screening, increasing investments in research and development activities by leading companies, and government initiatives to promote liver organoids are factors fueling market growth. Rising prevalence liver infections and utilization of liver models for developing various drugs and gene therapy is further augmenting growth of the global market.
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Major market players are deploying various strategies such as entering into mergers and acquisitions, collaborations, and joint ventures, and launching new product to sustain drive revenue growth and expand product portfolio and offerings.
However, some key factors expected to restrain market growth during the forecast period include lack of well-trained professionals to set up systems, run experiments, and provide data along with unavailability of 3D infrastructure and essential instruments and equipment.
Some key findings from the report:
- Among the type segments, the liver-on-a-chip segment is projected to account for significantly rapid revenue growth between 2021 and 2028 owing to capability of liver-on-a-chip to maintain metabolic activities that are almost alike in vitro environment. These liver chips are easy to use, affordable, and the best-suited alternative for animal models.
- Among the application segments, the drug discovery segment is expected to account for significantly large revenue share than other application segments owing to high investments in research and development of organoids and constantly growing need for novel drugs for rare liver diseases.
- Among the end use segments, the pharmaceutical and biotechnology companies segment is expected to account for high revenue growth rate over the forecast period as many leading companies are focusing on developing more effective drugs to cater to rising prevalence of liver dysfunctions.
- North America market is projected to account for largest revenue share in the global market over the forecast period due to presence of well-established life science companies, growing public awareness about organoids, and high prevalence of Non-Alcoholic Fatty Liver Disease (NAFLD).
- The market in Europe is projected to account for substantial revenue growth attributable to factors such as high rate of liver disorders, highly developed healthcare and research centers, and rising investments in research for developing organoids.
- Leading companies operating in the global human liver models market are Emulate Inc., Ascendance Bio, Organovo Holdings Inc., CN Bio Innovations, Cyfuse Biomedical, HìREL, InSphero, BioIVT, and Mimetas.
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For this study, Reports and Data has segmented the global human liver models market based on Type, Application, End Use, and Region:
Based On Type: (Revenue, USD Billion, 2018 – 2028)
- Liver Organoids
- 2D Models
- Animals Models
- 3D Bioprinting
Based On Application: (Revenue, USD Billion, 2018 – 2028)
- Drug Discovery
Based On End Use: (Revenue, USD Billion, 2018 – 2028)
- Research Institutes
- Biotechnology and Pharmaceutical Companies
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Based On Region: (Revenue, USD Billion, 2018 – 2028)
- North America
- Rest Of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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