Portland, OR, Aug. 24, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global organoids and spheroids market generated $516.6 million in 2021, and is estimated to reach $1.2 billion by 2031, witnessing a CAGR of 8.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $516.6 Million |
| Market Size in 2031 | $1.2 Billion |
| CAGR | 8.5% |
| No. of Pages in Report | 315 |
| Segments covered | Type, Method, End-User, and Region |
| Drivers | Increase in the prevalence of cancer |
| Rise in investments toward R&D activities | |
| Shift in preference toward organoid 3D cell cultures for cancer research | |
| Surge in adoption of organoid technology for use in applications, such as genetic mutation, gene assessment, and tumor modeling | |
| Opportunities | Technological advancements in 3D spheroids technologies in developing countries such as China, Japan, and India |
| Restraints | High cost of implementation |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a moderate impact on the pharmaceutical and biotechnological companies in the organoids and spheroids market.
- The companies in the industry suffered losses, owing to the imposition of lockdown by governments, which in turn, resulted in the slowdown of the manufacturing of organoid 3D cell culture and its use among researchers.
- However, this negative impact is being compensated by rapid development in stem cell therapy research and increased R&D for developing regenerative medicines for the treatment of COVID-19 patients.
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The report offers a detailed segmentation of the global organoids and spheroids market based on type method, end user, and region. The report provides analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on type, the organoids segment held the largest share in 2021, contributing to nearly three-fifths of the global organoids and spheroids market, and is likely to maintain its leadership status during the forecast period. Moreover, the same segment is expected to manifest the highest CAGR of 9.0% from 2022 to 2031. The report also offers an analysis of spheroids.
Based on method, the extracellular matrix scaffold method segment held the largest share of nearly one-third of the global organoids and spheroids market in 2021, and is expected to rule the roost throughout the forecast period. Moreover, the same segment is estimated to witness the highest CAGR of 9.2% during the forecast period. The research also includes an analysis of segments such as spinning bioreactor method, hanging drop method, low adherent culture plate method, magnetic leviation method, and others.
Based on end user, the biotechnology and pharmaceutical industry segment was the largest market in 2021, contributing to nearly three-fifths of the global organoids and spheroids market and would maintain its leadership status through the forecast period. The same segment is also expected to manifest the fastest CAGR of 9.0% during the forecast period. The research also analyzes the segments such as academic and research institutes, and hospitals and diagnostic centers.
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Based on region, North America accounted for the highest share in 2021, accounting for around two-fifths of the global organoids and spheroids market and is likely to lead the trail during the forecast period. However, the market across Asia-Pacific is projected to portray the fastest CAGR of 9.5% during the forecast period. The research also analyzes regions such as Europe and LAMEA.
Leading players of the global organoids and spheroids market analyzed in the research include AMS Biotechnology Limited, ATCC, 3D Biotek LLC, 3Dnamics Inc., Cellesce Ltd., Corning Inc, DefiniGEN Ltd, Greiner AG, Hubrecht Organoid Technology, InSphero AG, Lonza, Merck KGaA, PeproTech Inc., Perkin Elmer Inc., Prellis Biologics, STEMCELL Technologies Inc. and Thermofisher Scientific Inc.
The report analyzes these key players of the global organoids and spheroids market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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