PUBLISHER: The Business Research Company | PRODUCT CODE: 1489302
PUBLISHER: The Business Research Company | PRODUCT CODE: 1489302
Organoids are three-dimensional cell cultures that mimic the structural and functional characteristics of real organs. These miniature, simplified versions of organs are grown from stem cells in a laboratory environment to replicate some of the complex biological structures and processes of their full-sized counterparts.
The organoids market consists of sales, by entities (organizations, sole traders and partnerships), of organoids products that are a revolutionary tool in modern biomedical research and medicine, enabling scientists and doctors to study human development, disease progression and drug responses in a controlled and replicable way.
The global organoids market was valued at $1,306.05 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 20.00%.
Increase In Demand For Personalized Medicine
An increase in demand for personalized medicine propelled the growth of the organoids market. Personalized medicine, also known as precision medicine or individualized medicine, is an approach to medical care that aims to tailor treatments and interventions to the specific characteristics of each patient. Organoids, with their ability to replicate individual patient characteristics, have become indispensable tools in tailoring medical treatments to specific genetic profiles and disease characteristics. This demand surge has elevated the significance and adoption of organoids in drug testing, disease modeling and precision medicine applications. For instance, in October 2022, the Personalized Medicine Coalition, a US-based organization that represents scientists, patients and providers, promoting the understanding and adoption of personalized medicine to benefit patients and the healthcare system), estimated that more than 75,000 genetic testing products and 300 personalized medicines are on the market for people with multiple types of cancers, genetic rare diseases and a range of chronic and infectious diseases. Additionally, according to the Personalized Medicine Coalition (PMC), a US-based company that advocates for personalized medicine, personalized medicines were estimated to account for 34% of new drug approvals by the US Food and Drug Administration in 2022 and have accounted for at least 25% of approvals in each of the previous eight years. Therefore, the increase in demand for personalized medicine supported the growth of the organoids market during the historic period.
Advancements In Life Science Research For The Production Of Specialized 3D Cell Models
Companies are focusing on advancements in life science research for the production of specialized 3D organoids, representing a substantial stride in biomedical advancement. These pioneering advancements entail crafting organoids that closely emulate the structural and functional intricacies of human organs, granting researchers an unparalleled understanding of disease mechanisms and drug reactions. For example, in February 2024, Cell Microsystems, a US-based biotechnology company that provides advanced tools for cell biology, announced a strategic partnership with OMNI Life Science (OLS), a Germany-based cell biology company. This collaboration endeavors to launch three groundbreaking products-CERO, CASY and TIGR-into the US and Canadian markets, advancing life science research in North America. The CERO 3D, a pioneering instrument, fosters an ideal cell culture environment for producing specialized 3D cell models, such as stem cells, spheroids, organoids and tissues.
The global organoids market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 17.50% of the total market in 2022.
Organoids Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global organoids market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for organoids? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The organoids market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider organoids market; and compares it with other markets.