The market is anticipated to grow at a CAGR of 21. 7% from 2020 to 2027. Growth of the North America organoids market is attributed to emergence of three-dimensional (3D) organoids and rise in investments in research.
New York, March 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "North America Organoids Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type, Application, and Source, and Country" - https://www.reportlinker.com/p06027846/?utm_source=GNW
However, the lack of skilled professionals is likely to restrain the market growth during the forecast period.
The advantages of organoids have attracted various investors, market players, researchers, and organizations to invest in the research studies.For instance, Prellis Biologics, a San Fransico-based biotechnology company, announced completing its Series A investment round in August 2019.
The Khosla Venture has invested US$ 8.7 million in Prellis Biologics, and then it could raise a total capital of US$ 10.5 million (EUR 9.39 million). With the capital investment, the company aims to support research and developments of new therapeutic techniques through its holographic 3D printing technology by delivering biocompatible vascularized tissue bank to healthcare institutes and organizations. According to the company, the 3D printing technology would allow up to 90% reduced time for drug screening in 3D organoids than other 3D cell culture technologies.
Similarly, the Canadian government has allocated ~US$ 42.11 million (CAD$ 54.2 million) to various research studies. The Canadian government has also invested an additional amount of US$ 20.05 million (CAD$ 25.8 million) in addressing the COVID-19 outbreak. Among this additional amount, US$ 665 064 (CAD$ 856, 000) was allocated to a research title “Preventing SARS-CoV-2 Infection by Targeting Human Type II Transmembrane Serine Protease Activity.” The research would include a study about the SARS-CoV-2 virus protein, spike glycoprotein (S protein), and virus virulence in the human host cells. The project is likely to test protease inhibitors in models to analyze where the cells express the S protein. The study also analyzes the potent molecules, which would be then validated in lung organoids to verify their efficacy at reducing viral propagation.
Thus, growing investments in R&D are likely to demand the use of organoids and offer various innovative therapeutics in the market. Growing demand for organoids in research is expected to influence the growth of the market during the forecast period.
Based on type, the North America organoids market is segmented into stomach, intestine, liver, pancreas, lung, brain, kidney, and others. The intestine segment held the largest share of the market in 2019, whereas the kidney segment is anticipated to register the highest CAGR in the market during the forecast period.
In terms of application, the North America organoids market is segmented into developmental biology, disease pathology of infectious disease, regenerative medicine, drug toxicity and efficacy testing, drug discovery and personalized medicine, and others. The developmental biology segment held the largest share of the market in 2019; however, the drug discovery and personalized medicine segment is expected to register CAGR during the forecast period.
Based on source, the North America organoids market is segmented into pluripotent stem cells and organ-specific adult stem cells. The pluripotent stem cells segment held the largest share of the market in 2019 and it is estimated to register the highest CAGR in the market during the forecast period.
Food and Drug Administration, North American Society of Gastroenterology Hepatology and Nutrition, and World Health Organization are among the major primary and secondary sources for the North America organoids market.
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