Organoids and Spheroids Market: Current Analysis and Forecast (2021-2027)
Emphasis on Type (Organoids, Spheroids); Application (Developmental Biology, Regenerative Medicine, Personalized Medicine, Drug Toxicity, Efficacy Testing); End-User (Biotechnology & Pharmaceutical Industries, Hospitals & Diagnostic Centers, Academic & Research Institutes); Region and Country
Organoids and Spheroids Market was valued at ~US$ 500 million in 2020 and is expected to grow at a CAGR of ~23% over the forecast period (2021-2027). Increase in incidence and prevalence of chronic and infectious diseases, adoption of organoids as therapeutics tools, application of organoids in drug discovery & personalized medicine, and use of organoids in research & development is anticipated to propel the global organoids market. The globe market is driven by the application of organoids as an important tool for cell biology, gene therapy, regenerative medicine, cancer research, and disease modelling. Technological advancements are expected to propel the global organoids market during the forecast period.
For instance, In 2019, Hubrecht Organoid Technology has entered a strategic partnership with JSR Corporation to provide preclinical oncology drug development using organoid technology and to expand its European presence by opening a new organoid-focused operational site in Netherlands.
The growing prevalence of chronic disorders in recent times has increased the demand for effective drugs. The organoids and spheroids model are increasingly becoming popular as they provide a better perspective for human developmental biology research. The organoids model reveals the effects of covid-19 on several intestinal cells. Thus, these models are playing a significant role in the vaccine development process. The rise in demand for diagnostics and therapeutics solutions for these chronic diseases is fueling market growth. The organoids and spheroids are the three-dimensional structures that replicate the condition of different tissues present in the human body. The organoids model works as an in-vitro model for the study of biological development. The growing prevalence of chronic disorders in recent times has increased the demand for effective drugs. The organoids and spheroids model is increasingly becoming popular as they provide a better perspective for human developmental biology research. The organoids model reveals the effects of covid-19 on several intestinal cells. Thus, these models are playing a significant role in the vaccine development process. The rise in demand for diagnostics and therapeutics solutions for these chronic diseases is fueling market growth.
In 2020, researchers developed mini lungs using 3D cultured models to study the mechanism of the entry of SARS-CoV-2 and its spread in tissues. Organoids have also been employed to study the defense mechanism of tissue against SARS-CoV-2.
In 2019, ATCC has launched next-generation 2D and 3D patient-derived in-vitro cancer models, including organoids by collaborating with Human Cancer Models Initiative (HCMI).
Value chain analysis of Organoids and Spheroids
3D BioMatrix, Hubrecht Organoid Technology (HUB), Kuraray, Prellis Biologics, Merck KGaA, 3D Biotek, STEMCELL Technologies Inc., Cellesce Ltd., Corning Incorporated, AMS Biotechnology Limited, Greiner Bio-One, InSphero/Perkin Elmer, Lonza, and Thermo Fisher Scientific, Inc. are some of the leading players in the global organoids and spheroids market.
Insights Presented in the Report
“Amongst Type, Spheroid’s segment holds the major share.”
Based on the type, the global organoids and spheroids market is categorized into organoids and spheroids. In 2020, the spheroids market segment accounted for the largest revenue share. The high demand for such cell culture and its varied applicability in drug discovery, cancer biology, and in-vitro toxicology studies were its key segment drivers. Spheroids have a similar development pattern as that of cancer cells and could be re-cultured to produce similar cell copies, counted, morphologically measured through instruments.
“Amongst Application, Development Biology segment dominated the market during the forecast period.”
Based on application, the development biology market segment held a major revenue share in the global organoids and spheroids market, in 2020. This high revenue share is due to the rising use of such culture systems in human developmental biology. Organoids are derived from the induced pluripotent stem cells (iPSCs), and embryonic stem cells, which are beneficial in the study of embryonic development, homeostasis, and pedigree analysis. These models are already being in use for studying the development processes of the brain, stomach, and pancreas through induction of bone morphogenetic protein, fibroblast growth factors, and WNT signalling pathways.
“Amongst End User, Hospital’s segment dominated the market during the forecast period.”
Based on the End User, Pharmaceutical and Biotechnological Industries segment held the largest share in 2019. This is owing to the factors such as rise in the potential clinical applications of organoids and spheroids, high utilization rate of organoids and spheroids in pre-clinical drug discovery by the key players, accelerated uptake of organoid and spheroid culture in the pharmaceutical research bodies, increase in the collaborations among the major players and rise in the pharmaceutical start-ups.
“North America represents one of the largest markets of Organoids and Spheroids market.”
The Organoids and Spheroids market, the market is analysed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for disposable medical device sensor and generated revenue of USD XX million in 2020 owing to the presence of well-established players in the region, emerging investment in healthcare R&D by players etc., However, the Asia Pacific region would grow at the highest CAGR during the forecast period.
Reasons to buy this report:
- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
- The report presents a quick review of overall industry performance at one glance
- The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
Customization Options:
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Table of Contents
Analyzing the historical market, estimation of the current market, and forecasting the future market of the Global Liquid Biopsy Market were the three major steps undertaken to create and analyze the adoption of Liquid Biopsy for the different surgeries across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the Liquid Biopsy sector. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Liquid Biopsy through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Liquid Biopsy market, we conducted a detailed secondary analysis to gather historical market insights and share for different technologies & Equipment types for major regions. Major segments included in the report are cancer type, circulating biomarkers, products, End User and regions. Further country-level analyses were conducted to evaluate the overall adoption of Liquid Biopsy in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of Liquid Biopsy. Further, we conducted factor analysis using dependent and independent variables such as the surging demand for Liquid Biopsy. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, merger and acquisition, business expansion, and product launches in the Liquid Biopsy industry across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Liquid Biopsy market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top/down/bottom-up approach was applied to arrive at the market forecast about 2027 for different segments and subsegments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the adoption rate of Liquid Biopsy across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Liquid Biopsy market in terms of services offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Liquid Biopsy market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and product type of the Liquid Biopsy market.
Main Objective of the Liquid Biopsy Market Study
The current & future market trends of Liquid Biopsy were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends were determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Liquid Biopsy in terms of value (US$). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of application, product type and end-user sector.
- Define and analysis of the regulatory framework for the Liquid Biopsy industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the Liquid Biopsy market for the major region.
- Major regions studied in the report include North America (the U.S and Canada), Europe (Germany, France, U.K Spain, and Italy), Asia-Pacific (China, Japan, Australia, and India), Rest of the World
- Company profiles of the Liquid Biopsy market and the growth strategies adopted by the market players to sustain in the fast-growing market.
- Deep dive regional level analysis of the industry
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