Market Trends of Organoids Industry
This section covers the major market trends shaping the Organoids Market according to our research experts:
Drug Discovery & Personalized Medicine Segment Expected to Contribute a Significant Proportion in the Market
Based on product type, the drug discovery & personalized medicine segment is anticipated to hold a significant market share during the study period. The increasing prevalence of chronic disease, along with rising initiatives by the major players to introduce blockbuster drugs in the market, is the primary reason attributed to the higher adoption of advanced technology, such as organoids, for drug discovery. For instance, in August 2022, Bayer AG introduced finerenone for the treatment of chronic kidney disease. Further, in a research study published by the National Center for Biotechnology Information (NCBI) in May 2022, it was reported that patient-derived pancreatic cancer organoids proved to be efficient in drug discovery for pancreatic cancer.
Along with that, the rising trend for personalized medicine is also fueling the adoption rate of organoids in the research industry. For instance, according to an estimation by Personalized Medicine Coalition, a total of 300 personalized medicine were there in the market in the United States till 2022. Also, according to another report by Personalized Medicine Coalition, it was reported that approximately 35% of the total drug approval by the Food and Drug Administration (FDA) is for personalized medicine in 2021. Additionally, according to a report by Alix Venture in 2021, owing to certain factors, including traceability and potential to capture patient and tumor type diversity, organoids are increasingly used to study personalized medicines, thus supporting the demand and adoption of organoids in the development of personalized medicine. Additionally, certain clinical benefits, including the potential for capturing patient and tumor type diversity and conservation of cellular composition, among others, are fostering the adoption rate of organoids in the research for personalized medicine. For instance, according to ClinicalTrial.gov, 31 clinical trials based on patient-derived organoids were reported till 31st December 2022.
Thus, owing to the above-mentioned factors, the drug discovery & personalized medicine segment is anticipated to capture a significant market share during the study period.
North America Contributed to the Largest Market Share During the Forecast Period
North America region is anticipated to hold a dominant position in the global organoids market during the study period. The large patient population suffering from chronic diseases, advanced healthcare facilities, the presence of key players in the region, and rising R&D expenditure by the Federal Government in the region are the driving factors for the growth of the market in this region. According to data from the Centers for Disease Control and Prevention (CDC), it was reported that a total of 20.1 million adults of age 20 years and older in the United States have Coronary Artery Disease in 2022. Also, according to American Liver Foundation, the estimated number of new cases of liver cancer was 42,230 in the United States in 2021. Furthermore, according to an estimation published by National Center for Biotechnology Information in May 2022, it was reported that there were around 233,900 new cancer cases reported in Canada in 2022. Moreover, several clinical trials have been reported for a number of chronic diseases involving organoids in this region. According to ClinicalTrial.gov, a study titled 'Patient-derived Organoid Model and Circulating Tumor Cells for Treatment Response of Lung Cancer' was started on August 2018 in Texas, United States and is anticipated to complete in December 2024. This study aims to establish a biobank of patient-derived organoids for the treatment of lung cancer and examine the ex-vivo responses of the potential organoids to a number of chemotherapeutic agents. These above-mentioned factors collectively foster the demand and adoption of organoids in healthcare research in North America.
Moreover, rising healthcare R&D funding in North America is bolstering the introduction of advanced technology in the research field. According to a research report by the U.S. Government Accountability Office (GAO) in December 2022, the federal government of the United States increased funding for research and development for the Department of Health and Human Services from USD 60.0 billion in 2020 to USD 68.8 billion in 2021. Thus, the upgradation of research methodologies in the medical field fosters new and advanced equipment, such as organoids, for precise research results and results in the market's growth.
Additionally, ongoing regulations and the modernization act by the government of the United States is limiting the use of animal testing in the clinical trials of drugs. This results in adopting an alternative way of testing drugs during clinical trials and other drug development procedures. Thus the adoption rate of organoids in the research procedure is increasing. For instance, the FDA Modernization Act of 2022 would eliminate the necessity of animal testing for the development of any human drugs.
Thus, due to the above-mentioned factors, the organoids market is expected to witness consistent growth in North America over the forecast period.
