Dublin, Dec. 21, 2020 (GLOBE NEWSWIRE) -- The "Human Organoids Market Report" report has been added to ResearchAndMarkets.com's offering.
The global human organoids market size is projected to reach USD 1,901 million by 2025 from USD 850 million in 2020, at a CAGR of 17.5%.
Factors such as the technological advancements in the market are propelling the growth of the human organoids market. Additionally, rising cases of transplants, investments from both private and public sectors are having affect in the growth of human organoids market. However, unfavorable reimbursement scenarios in some countries is hampering the growth of this market.
The recent COVID-19 global pandemic has also impacted the human organoids market. Demand from the main end-users has declined as key regions and countries have imposed social distancing rules and lockdowns. This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.
"The kidney segment to witness the highest growth rate in human organoids market, by product, during the forecast period."
The kidney segment is expected to witness the highest growth rate during the forecast period. The high growth in this owes to the high prevalence of kidney diseases across major markets (resulting in a growing number of transplants procedures), the growing trend of increasing purchasing power of people, especially across emerging countries.
"The developmental biology accounted for the largest share of the human organoids market, by human organoids, in 2020."
The developmental biology segment accounted for the largest share of the human organoids market in 2020. Technological advancements in the field of 3D bioprinting have shown huge potential for organ development as the culture time is very less compared to traditional methods of tissue culture. Patient-derived human organoid studies may accelerate medical research, creating new opportunities for tissue engineering and regenerative medicine and generating knowledge and tools for preclinical studies, including drug development and testing.
"The pharmaceuticals & biotechnology companies segment accounted for the largest share of the human organoids, by end users, in 2020"
Pharmaceutical and biotechnology companies mainly focus on developing new drugs for the treatment of various rare diseases. These companies need to submit specific data related to drug development during the drug development process and subsequent filing of applications to regulatory bodies. This necessitates a wide spectrum of services in the early development phases and clinical phases to comply with regulatory requirements.
"The Asia Pacific market to grow at the highest CAGR during the forecast period."
The clinical microbiology market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Government efforts to increase awareness related to human orgnaoids, supportive regulations for the development and commercialization of advanced human organoids products, rising healthcare expenditure, increasing number of hospitals and clinics in India and China, expanding research base across India, China, and Japan, and the increasing incidence of transplants are the major factors driving the growth of the APAC human organoids market.
The major players operating in the human organoids market are BioIVT (US), Thermo Fisher Scientific (US), ZenBio (US), Corning (US), Organovo (US), Cyprio (France), Biopredic International (France), CELLINK (Sweden), Emulate (US), Hrel Corporation (US), InSphero (Switzerland), Kerafast (US), Kirkstall (UK), and MIMETAS (Netherlands).
Growing Focus on Developing Alternatives for Animal Testing Models
Significant Increase in Research Funding and Venture Capital Investments for the Development of Human Organoids
Growing Initiatives to Increase Awareness About Organoids
Increasing Research Activities on Organoids
Increasing Prevalence of Non-Alcoholic Fatty Liver Disease
Growing Need for the Early Detection of Drug Toxicity to Minimize Financial Losses Due to Late-Stage Drug Failure
Issues Related to the Incorporation of Organoids into Existing Workflows
Increasing Focus on Drug Discovery Activities
Rising Demand for Organ Transplantation
Growing Healthcare Market in the Asia-Pacific and Latin America
Dearth of Skilled Professionals
Impact of the COVID-19 Pandemic on the Human Organoids Market
CN Bio Innovations
Cytes Biotechnologies, S.L.
Primacyt Cell Culture Technology Gmbh
Stemcell Technologies Inc.
Thermo Fisher Scientific
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