Global Organoids and Spheroids Market Set for Remarkable Growth, Reaching USD 7.70 Billion by 2034 with a CAGR of 23.12%
Dublin, March 27, 2024 (GLOBE NEWSWIRE) -- The "Global Organoids And Spheroids Market Analysis & Forecast to 2024-2034" report has been added to * ResearchAndMarkets.com's* offering.
The global market for organoids and spheroids is expected to witness substantial growth in the coming decade, with projections estimating the market to expand from USD 0.781 billion in 2023 to USD 7.70 billion by 2034. This market development is fueled by innovations in disease modelling and drug development, harnessing the potential of organoids and spheroids in various applications including developmental biology and regenerative medicine.*Robust Advancements in Organoid and Spheroid Technologies*
Technological strides in the field of 3D cell culture have significantly contributed to the market's growth trajectory. Innovations such as CRISPR/Cas9 gene editing and microfluidics integration are revolutionizing organoid and spheroid-based research, catering specifically to chronic illnesses like kidney disease, colon cancer, and lung cancer. The introduction of new products like TheWell Bioscience's VitroGel Organoid Recovery Solution exemplifies the ongoing efforts to enhance research efficiency in the domain.
*Market Segmentation Insights*
The market analysis identifies spheroids as the leading segment in revenue generation for 2023, with applications encompassing drug discovery, toxicology, and cancer research. Meanwhile, the organoids segment is forecasted to grow at the fastest CAGR due to its increasing role in in-vitro model systems for drug discovery. Pioneering products such as AIM Biotech Pte. Ltd.'s organiX System, which allows for immunologically competent and vascularized organoids, are set to contribute to the market's growth.
*Application Areas Driving Innovation*
In applications, developmental biology commands the market revenue, attributed to critical research advancements and the formation of strategic partnerships. An example includes InSphero AG's distribution agreement facilitating the deployment of its patented technology in the US market. Similarly, regenerative medicine continues to soar with high CAGR projections, influenced by novel research in stem cell-derived organoids and tissue regeneration.
*End-users Propel Market Expansion*
Biotechnology and pharmaceutical companies top the end-user segment, incorporating organoids and spheroids for critical pre-clinical drug development processes to tackle chronic diseases. For instance, AMSBIO's launch of Matrimix introduces a well-defined platform for consistent extracellular matrix cultures. Academic and research institutes are also forecasted to grow significantly, driven by high adoption in developmental biology research and disease modeling.
*Geographical Market Dynamics*
North America is projected to dominate the regional market share, with the presence of major industry players and consistent technological advancements. Introduction of products such as MIMETAS’s ASC-derived tubular organoids showcases the region's leadership in organoid-based research. Asia Pacific is expected to witness the fastest growth, underpinned by increasing stem cell research developments and strategic industry partnerships, such as Sydney-based Inventia Life Science's expansion into the Indian market with Biotron Healthcare PVT Ltd.
*Conclusion*
The global organoids and spheroids market holds promising potential, with advancements and applications spanning across varied biotechnological fields. The expected growth reinforces the crucial role of three-dimensional cultured cell structures in shaping the future of personalized medicine, drug development, and disease research.
*Key Attributes*
*Report Attribute* *Details*
No. of Pages 200
Forecast Period 2023 - 2034
Estimated Market Value (USD) in 2023 $0.78 Billion
Forecasted Market Value (USD) by 2034 $7.7 Billion
Compound Annual Growth Rate 23.1%
Regions Covered Global
*Companies Featured*
· Prellis Biologics
· 3D Biomatrix
· Hubrecht Organoid Technology (HUB)
· Lonza
· AMS Biotechnology (Europe) Limited
· Corning Incorporated
· STEMCELL Technologies Inc.
· InSphero
· Thermo Fisher Scientific Inc.
· 3D Biotek LLC
· Merck KGaA
· Cellesce Ltd.
· Greiner Bio-One
For more information about this report visit https://www.researchandmarkets.com/r/lqwclj
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*Attachment*
· Global Organoids And Spheroids Market
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