The organoids market size is projected to reach US$ 15.01 billion by 2031 from US$ 3.03 billion in 2023. The market is expected to register a CAGR of 22.3% in 2023–2031. The integration of artificial intelligence is likely to act as one of the key trends in the organoids market in the future.
Factors contributing to the organoids market growth include the rising demand for novel drug screening services, and an upsurge in the popularity of customized medications. However, the dearth of skilled professionals and stringent safety regulations hamper the market growth.
Organoids are emerging as a powerful asset for researchers and drug developers as they seek more efficient and accurate methods to identify promising drug candidates and predict their efficacy. The ability to generate patient-derived organoids (PDOs) opens up exciting possibilities for personalized drug screening. Organoids serve as realistic and relevant models for drug screening compared to traditional 2D cell cultures. They mimic the complexity of human organs, including their cellular composition, structure, and function, providing a more accurate representation of drug responses in the human body. This enables researchers to identify potential drug candidates more confidently, and avoid costly and time-consuming setbacks in clinical trials. The organoid market is experiencing rapid growth owing to the increasing demand for innovative screening services.
Personalized or precision medicine is the study of practices or drugs tailored to the individual patient based on the projected response or disease risk. According to a study released by the Personalized Medicine Coalition (PMC), the share of personalized medication approvals in total FDA approvals for new molecular entities rose from 5% in 2005 to over 25% in 2016. Further, 73% of compounds in the pipeline are potential oncological candidates, and 42% have the potential to be personalized therapies. Biopharmaceutical companies have virtually doubled their R&D investments in personalized pharmaceuticals. Further, in the coming years, this spending is expected to surge by 33%. Moreover, researchers in the field of biopharmaceuticals anticipate a 69% rise in the creation of customized medications during the said period. As per the most recent study published in the PMC in 2021, the number of customized medications available in the US market has jumped up from 132 in 2016 to 286 in 2020. The information was produced by tracking the PMC's numbers for personalized medication since 2008. The use of organoids to produce customized medication regimens holds significant prospects for enhancing patient care. With their active efforts to promote and raise awareness of precision medicine, pharmacists play a crucial role in driving up demand for customized medications. According to a recent published in one of the NCBI journals in 2021, more than 50% of consumers preferred to buy customized goods or services. These stats indicate the build up of a conducive environment for the growth of the organoids market.
The progress of the healthcare sector has led to a rise in the demand for organoids across the world. This increased demand contributes to new product developments, acquisitions, partnerships, product launches, and approvals on a global level. Major market players are involved in activities to ensure the innovation and development of efficient services and products. A few of the recent key developments are listed below:
Such key developments, launches, and strategic collaborations create ample opportunities for the organoid market growth.
Key segments that contributed to the derivation of the organoids market analysis are product, application, source, and manufacturing.
The geographic scope of the organoids market report is mainly divided into five regions: North America, Asia Pacific, Europe, and the Middle East & Africa.
North America dominates the organoids market. Market players in the US are focusing on organic growth strategies to strengthen their foothold. In February 2023, Molecular Devices, LLC. and HUB Organoids (HUB) announced a strategic collaboration to continue the development of next-generation 3D biology technologies that drive step-change reduction in preclinical to clinical drug attrition. Further, increasing research and development activities, rising demand for tissue engineering and organ transplantation, and a high rate of organoid adoption are driving the organoid market in the country. Organoids have the potential to overcome several previous limitations associated with biomedical research studies, with a high focus on making mechanistic insights on human development available for researchers, producing accurate models of human disease, and generating patient-matched tissue sources for regenerative medicine. Asia Pacific is anticipated to record the highest CAGR during 2023–2031.
The regional trends and factors influencing the Organoids Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Organoids Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 3.03 Billion |
| Market Size by 2031 | US$ 15.01 Billion |
| Global CAGR (2023 - 2031) | 22.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Organoids Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Organoids Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The organoids market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the market are listed below:
The "Organoids Market Size and Forecast (2021–2031)" report provides a detailed analysis of the market covering below areas:
The List of Companies - Organoids Services Market
The increasing demand for innovative drug screening services, a rise in the prevalence of skin disorders, and a surge in the popularity of personalized drugs are the key factors driving the market.
The market is expected to register a CAGR of 22.3% during 2023–2031.
North America dominated the market in 2023.
Strategic initiatives by companies would bring attractive trends in the market in the coming years.
The estimated value of the market would be US$ 15.01 billion by 2031.
Sino Biological Inc.; Eurofins Scientific SE; Molecular Devices, LLC.; InSphero; Cyprio; InnoSer; LABTOO; CUSABIO TECHNOLOGY LLC; Oncodesign Services; and HUB Organoids B.V. (Hubrecht Organoid Technology) are among the key players in the market.