New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Organoids Global Market Report 2023" - https://www.reportlinker.com/p06486567/?utm_source=GNW
, Path BioAnalytics, and R&D Systems.
The global organoids market is expected to grow from $1.14 billion in 2022 to $1.42 billion in 2023 at a compound annual growth rate (CAGR) of 25.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The organoids market is expected to reach $3.4 billion in 2027 at a CAGR of 24.9%.
The organoids market consists of sales of epithelial organoid, embryonic organoid, and cerebral organoid.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Organoids refer to a three-dimensional and tiny tissue cultures derived from stem cells. Organoids are used for customized, regenerative medicine, gene repair, and transplantation therapy.
North America was the largest region in the organoids market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in organoids report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of organoids are hepatic organoid, colorectal organoid, intestinal organoid, and others.Hepatic organoid refers to three-dimensional in vitro models of the liver that are functional.
Hepatic organoids are used to address the various research questions related to hepatic development and regeneration, disease modeling, and others.The various sources of organoids include pluripotent stem cells and organ-specific adult stem cells that are typically applied in developmental biology, disease pathology of infectious disease, regenerative medicine, drug toxicity and efficacy testing, drug discovery and personalized medicine, and others.
These are used by hospitals and diagnostic centers, biotechnology and pharmaceutical companies, and others.
An increase in the incidence and prevalence of chronic and infectious diseases is expected to propel the growth of the organoid market going forward.Chronic disease is a condition that lasts more than a year and requires ongoing medical treatment.
Organoids have been used to study various chronic diseases and their treatments as they give immediate and dependable information on pathogen biology and drug screening.Hence, the increase in the incidence and prevalence of chronic and infectious diseases will support the organoid market.
For instance, in January 2023, according to the National Center for Biotechnology Information, a US-based branch of the National Institutes Of Health, the number of U.S. citizens above the age of 50 with chronic diseases is supposed to increase by approximately 99.5% from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the rising prevalence of chronic diseases will drive the organoids market.
Technological advancements are a key trend gaining popularity in the organoid market.Major companies operating in the organoid market are launching new organoid technologies to sustain their position in the market.
For instance, in March 2023, MIMETAS, a Netherlands-based human tissue and disease model developer, launched a new type of adult stem cell (ASC)-derived tubular organoids as a part of the OrganoReady product line.This new organoid uses cutting-edge and innovative technology for mechanistic toxicology and drug-induced organ injury.
Organoids are developed as perfused 3D tubular structures with access points on the apical and basal sides using the OrganoPlate, a patented microfluidic platform.
In December 2022, Molecular Devices LLC, a UK-based research and development company, acquired Cellesce Ltd. for an undisclosed amount. The acquisition will provide Molecular Devices LLC with Cellesce Ltd.’s human-derived cell or organoid lines and strengthen the company’s position as a 3D biology solutions innovator. Cellesce Ltd is a UK-based company with expertise in cell expansion focused on organoids.
The countries covered in the organoids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The organoids market research report is one of a series of new reports that provides organoids market statistics, including organoids industry global market size, regional shares, competitors with a organoids market share, detailed organoids market segments, market trends, and opportunities, and any further data you may need to thrive in the organoids industry. This organoids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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