Research Nester released a report titled “Human Organoids Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global human organoids market in terms of market segmentation by product, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global human organoids market is projected to grow with a high CAGR during the forecast period, i.e., 2022-2030 on account of the increasing occurrence of infectious diseases thereby entailing the need for organ transplants and the increasing expenditure in the advancement of technologies. Moreover, the rapid advancement in cellular technologies allows the use of organoid models in various genetic and infectious medical conditions along with its increasing use in personalized medicine. This fact is expected to contribute significantly to the market growth of human organoids. Furthermore, these can be used for extensive research and development of treatment methods in laboratories, which is further estimated to boost the market growth.
The market is segmented by product into pancreas, kidney, lungs, heart, liver models, and others. Among these segments, the kidney segment is anticipated to hold the largest share by the end of 2030 in the human organoids market as a result of growth in number of kidney transplants. As per the statistics by the National Kidney Foundation, 100,791 individuals waited for kidney transplants in 2020. On the basis of end-user, the market is segmented into biotech & pharma industry, academic & research institutes, hospitals & diagnostic centers, & others, out of which the biotech & pharma industry segment is expected to grow with the highest CAGR during the forecast period owing to the increasing emphasis of biotech & pharma industry on research associated with new drug discovery for the treatment of various diseases. The technological developments in the field of 3D bio printing are also projected to contribute to the market segment growth.
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the human organoids market in the Asia Pacific region is projected to grow at the highest CAGR throughout the forecast period owing to rising prevalence of infectious diseases, and the increase in per capita healthcare expenditure in the region. Currently, the market in North America holds the largest share. This can be attributed to the early adoption of transplantation technology in the region, especially in the United States, along with the increasing availability of human organoid products on account of the presence of well-established distribution channels.
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Rising Occurrence of Chronic Diseases and the Need for Organ Transplants to Drive Market Growth
According to the National Center for Biotechnology Information, human organoids provide numerous applications for tissue engineering, drug discovery and regenerative medicine. There were 121,678 people on the waiting list for organ transplant in 2020.
The global count of organ transplants has increased significantly over the years. This can be attributed to the rise in occurrence of infectious disease and outbreak of epidemics globally. Additionally, the increasing expenditure in the advancement of technology, is also expected to boost the market growth in upcoming years.
However, the lack of skilled professionals to conduct diagnostic tests and insufficient funding for research are some of the factors that are estimated to restrain market growth in the near future.
This report also provides the existing competitive scenario of some of the key players of the global human organoids market which includes company profiling of BioIVT LLC, Thermo Fisher Scientific Inc., Corning Incorporated, Emulate Bio, Organovo Holdings Inc., Zen-Bio Inc., Hurel Corporation, Cellink AB, and Biopredic International. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global human organoids market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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