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HEALTHCARE & PHARMACEUTICAL

Human Organoids Market Segmentation by Product (Pancreas, Kidney, Lungs, Heart, Liver Models, and Others); and by End-User (Biotech & Pharma Industry, Academic & Research Institutes, Hospitals & Diagnostic Centres, and Others) – Global Demand Analysis and Opportunity Outlook 2030

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Extensive insights into the Growth of Human Organoids Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

  • April 2021: Thermo Fisher Scientific declared to acquire PPD, Inc. for USD 47.50 per share. This acquisition establishes Thermo Fisher as a global leader in the clinical research service industry.
  • March 2021: CELLINK announced its acquisition of MatTek Corporation to expand its portfolio to advance in-vitro technology.

Global Human Organoids Market Highlights 2022-2030

The global human organoids market is estimated to grow with a high CAGR during the forecast period, i.e., 2022-2030. The rising incidence of infectious diseases, the growing need for organ transplants, along with the growing investment in the advancement of medical technologies, are expected to fuel the progress of the market. According to the U.S. Department Health Resources & Services Administration (HRSA) over 39,000 transplants were performed in 2020 in the US, while 17 people die each day waiting for an organ transplant. The development of efficient tools and mechanisms for early diagnosis & treatment of infectious diseases can facilitate more effective and rapid responses to medical conditions. Human organoids allow to create cellular models of clinical problems, such as, infectious & genetic diseases, tumour modeling & bio-banking, gene function, and cell development, to further study them in the laboratory and develop accurate treatment methods. This is anticipated to be the major growth driver for the market. The growth of the market can also be attributed to the extensive medical research associated with drug discovery in western countries and the rising demand for advanced drugs. Human organoids may also be deployed for customization of therapy or personalized medicine, which is also expected to contribute to the growth of the market.

Global-Human-Organoids-Market-Overview

The market is segmented on the basis of product into pancreas, kidney, lungs, heart, liver models, and others, out of which, the kidney organoid segment is anticipated to grab the largest share by the end of 2021 on account of the increasing number of kidney transplants performed globally as compared to other procedures. As per the statistics by the National Kidney Foundation, there were 121,678 people waiting for lifesaving organ transplants in the U.S. in 2020. Out of these, 100,791 individuals were waiting for kidney transplants. Moreover, there has been a significant growth in kidney-related diseases, which is also projected to contribute to the growth of the segment during the forecast period.

On the basis of end-user, the biotech & pharma industry segment in the global human organoids market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the increasing focus of biotech & pharma industry on research and development related to new drug discovery for the treatment of various rare diseases, combined with technological developments in the field of 3D bio printing.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure-per-Capita

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Human Organoids Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the improvement in healthcare infrastructure and the rise in number of transplantation procedures in the region. The development in the public healthcare system backed by economic development in the region are estimated to boost the growth of the regional market.

Furthermore, in 2030, the market in North America region is evaluated to occupy the largest share in terms of revenue, owing to the high technological advancement in the field of transplantation, accompanied by the presence of well-established distribution channels for the supply of human organoid products in the region. Along with this, North America also leads in terms of government healthcare expenditure, which is also expected to contribute to the market growth in the region. According to the World Health Organization (WHO), as of 2018, 16.416 % of the GDP was spent on the healthcare sector in North America.

Global-Human-Organoids-Market-Share

The global human organoids market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global human organoids market includes the following segments:

By Product

  • Pancreas
  • Kidney
  • Lungs
  • Heart
  • Liver Models
  • Others

By End-User

  • Biotech & Pharma Industry
  • Academic & Research Institutes
  • Hospitals & Diagnostic Centers
  • Others

Growth Drivers

  • Rising Incidence of Infectious Diseases Necessitating the Need for Organ Transplants
  • Growing Investment in the Advancement of Technologies

Challenges

  • Lack of Skilled Professionals to Conduct Diagnostic Tests
  • Insufficient Funding for Research & Development

Key Players Dominating the Market

  • BioIVT LLC
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Thermo Fisher Scientific Inc.
  • Corning Incorporated
  • Emulate Bio
  • Organovo Holdings Inc.
  • Zen-Bio Inc
  • Hurel Corporation
  • Cellink AB
  • Biopredic International

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