Global Organoid Technology Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Cerebral Organoid, Thyroid Organoid, Thymic Organoid, Testicular Organoid, Hepatic Organoid, Others), By Application (Cancer Research, Drug Testing, Others), By End User (Biotechnology And Pharmaceutical Companies, Academic And Research Institutions), And By Geography - Forecasts From 2022 To 2027

The global organoid technology market is estimated to grow at a CAGR of 27.12%. Organoid technology provides researchers with a first-of-its-kind platform for conducting laboratory studies on living diseased tissue, which is impossible to accomplish in patients. It can create human modeling systems in a petri dish, which can be used to develop and test medications before they go through costly clinical trials. Organoid technology stands out as having a major market, with a lot of scientific and business advancements in the fields of stem cells and tissue regeneration. For instance, in August 2021, Stemcell Technologies and Hubrecht Organoid Technology (HUB) announced a collaboration to use tissue-derived organoids, such as intestinal, lung, and liver organoids, in preclinical toxicology screening and non-cancer drug discovery services provided by Stemcell's Contract Assay Services department. These developments in the market will assist drug development specialists and companies in incorporating organoids into their preclinical testing procedures, allowing them to bring new treatments to market efficiently and cost-effectively.

During the forecast period, the market is predicted to rise due to increased spending on healthcare research, as well as other reasons such as the development of the biotech industry. Moreover, the ban on animal testing in various regions and the growing ethical concerns over animal source usage is further expected to contribute to market growth. However, the market's growth will be limited by high initial prices due to the lack of development of organoid technology and rigorous government controls on a wide range of applications in healthcare. Geographically, the Americas and Europe Middle East, and Africa will contribute significantly to the market due to increased government spending and the presence of key industry players.

Driver:

INCREASING INVESTMENTS IN HEALTHCARE R&D

The increased demand for organoids due to a rising focus on oncological research will also aid market expansion during the forecast period. For instance, in July 2021, Xilis received $70 million in funding to expand its organoid-generation platform for cancer treatment and medication research. Xilis' technique begins by making thousands of additional replicas of a patient's cancer cells to influence the treatment recommendations that will eventually eradicate those cells from the body. Xilis' MicroOrganoSphere technology, or MOS, is at the center of this technique, which utilizes a tissue sample from a cancer patient to produce miniature models of their tumors.

Key developments:

• In March 2021, Cultrex UltiMatrix Reduced Growth Factor Basement Membrane Extract (RGF BME), an extracellular matrix hydrogel that delivers considerable performance and consistency advantages for growing organoids and pluripotent stem cells, was released by Bio-Techne Corporation.
• In July 2021, Xilis received $70 million in funding to expand its organoid-generation platform for cancer treatment and medication research. Xilis' technique begins by making thousands of additional replicas of a patient's cancer cells to influence the treatment recommendations that will eventually eradicate those cells from the body. Xilis' MicroOrganoSphere technology, or MOS, is at the center of this technique, which utilizes a tissue sample from a cancer patient to produce miniature models of their tumors.
• In April 2022, the QPix 400 Series Microbial Colony Picker and the ClonePix 2 Mammalian Colony Picker were added to the Organoid Innovation Center by Molecular Devices, LLC. In addition to automated organoid rearing and screening, this upgrade expands the Center's state-of-the-art technologies and methods to encompass automated processes for synthetic biology, antibody identification, and cell line generation.

COVID-19 Impact on the Organoid Technology Market

The advent of COVID-19 is anticipated to have a marginal impact on the country’s organoid market growth, particularly during the year 2020, which may be attributed to the decline in research spending due to lockdowns and several government restrictions.

Global Organoid Technology Market Scope:

Market Segmentation:

• By Type
  • Cerebral Organoid
  • Thyroid Organoid
  • Thymic Organoid
  • Testicular Organoid
  • Hepatic Organoid
  • Others
• By Application
  • Cancer Research
  • Drug Testing
  • Others
• By End-User
  • Biotechnology And Pharmaceutical Companies
  • Academic And Research Institutions
• By Geography
  • North Americas
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe Middle East & Africa
    • Germnay
    • France
    • Uk
    • Spain
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • India
    • Indonesia
    • Others