Northbrook, IL -- (SBWire) -- 12/17/2020 --According to the new market research report "Human Organoids Market by Product (Pancreas, Kidney, Lung, GIT, Liver Models) Usabilty (Customized, Ready-To-Use), Application (Toxicity, Pathology, Personalized & Regenerative Medicine), Enduser (Pharma-Biotech, CROs, Academia) & Region- Global Forecast to 2025", published by MarketsandMarkets™, the Human Organoids Market is estimated to be USD 850 million in 2020 and projected to reach USD 1,901 million by 2025, at a CAGR of 17.5%.
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143 – Tables
23 – Figures
174 – Pages
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The Increasing prevalence of transplantation, technological advancements and increased funding and public-private investments are the key factors driving the growth of the human organoids.
The human organoids market includes major Tier I and II suppliers like BioIVT (US), Thermo Fisher Scientific (US), ZenBio (US), Corning (US), Organovo (US), Cyprio (France), Biopredic International (France), CELLINK (Sweden), Emulate (US), Hµrel Corporation (US), InSphero (Switzerland), Kerafast (US), Kirkstall (UK), and MIMETAS (Netherlands). These suppliers have their manufacturing facilities spread across regions such as North America and Europe. COVID-19 has impacted their businesses as well. Demand for human organoids from key end-users has declined a bit amidst the global COVID-19 pandemic. Industry experts believe that COVID-19 will have short-term decline in the growth for the human organoids market in 2020 but will experience normal growth as the market gradually steadies by the end of 2020.
Demand for liver transplants result in the segment occupying the high share of the market
Liver segment owes a good market share in Human Orgnaoids Market. The large share of this segment is attributed to factors such as the advancements in technology among researchers and academia (coupled with growing industry-academia collaborations for organoids research, rising numbers of liver transplants and the investments by both private and public players in the market.
Kidney estimated to be the growing market
The kidney human orgnaoids market is expected to witness sustained demand during the forecast period, owing to the high prevalence of infectious diseases across major markets (resulting in a growing number of transplant procedures), and an increasing number of life science researches in the field of specific requirements and treatment, especially across emerging countries.
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Geographically, the emerging Asian countries, such as China, India, South Korea, Taiwan, and Singapore, are offering high-growth opportunities for market players. The Asia Pacific clinical microbiology market is projected to grow at the highest CAGR of 18.8% from 2020 to 2025. Government efforts to increase awareness related to human organoids; supportive regulations for the development and commercialization of advanced human orgnaoids products; rising healthcare expenditure; the increasing number of hospitals in India and China; expanding research base across India, China, and Japan; and the increasing incidence of transpalnts are driving the growth of the APAC clinical microbiology market.
Prominent players in this human orgnaoids market are BioIVT (US), Thermo Fisher Scientific (US), ZenBio (US), Corning (US), Organovo (US), Cyprio (France), Biopredic International (France), CELLINK (Sweden), Emulate (US), Hµrel Corporation (US), InSphero (Switzerland), Kerafast (US), Kirkstall (UK), and MIMETAS (Netherlands).
Human Organoids Market Worth $1,901 Million by 2025 - Exclusive Report by MarketsandMarkets™
Asia Pacific likely to emerge as the fastest growing clinical microbiology market, globally