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The Global Organs-on-chips Market is estimated to be USD 23.86 Mn in 2020 and is expected to reach USD 98.9 Mn by 2025, growing at a CAGR of 32.9%.
Market Dynamics
The growth of this market is mainly driven by the growing focus on developing alternatives for animal testing models, significant increase in research funding and venture capital investments for the development of organs-on-chips, technological advancements and new products launches, growing number of partnerships and collaborations between pharmaceutical companies and organs-on-chips manufacturers, and growing need for early detection of drug toxicity to minimize financial losses due to late stage drug failure.
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The global human organoids market size is projected to reach USD 1,901 million by 2025 from USD 850 million in 2020, at a CAGR of 17.5%.
Factors such as the technological advancements in the market are propelling the growth of the human organoids market. Additionally, rising cases of transplants, investments from both private and public sectors are having affect in the growth of human organoids market. However, unfavorable reimbursement scenarios in some countries is hampering the growth of this market.
The recent COVID-19 global pandemic has also impacted the human organoids market. Demand from the main end-users has declined as key regions and countries have imposed social distancing rules and lockdowns. This impact is expected to be short-term, and no adverse effects are to be foreseen after the market gradually reopens.
World Human Organoids Market Report 2020: COVID-19, Regulatory Scenario, Ecosystem Coverage, Technology Analysis, & Pricing Analysis
Dublin, Dec. 21, 2020 (GLOBE NEWSWIRE) The Human Organoids Market Report report has been added to
ResearchAndMarkets.com s offering.
The global human organoids market size is projected to reach USD 1,901 million by 2025 from USD 850 million in 2020, at a CAGR of 17.5%.
Factors such as the technological advancements in the market are propelling the growth of the human organoids market. Additionally, rising cases of transplants, investments from both private and public sectors are having affect in the growth of human organoids market. However, unfavorable reimbursement scenarios in some countries is hampering the growth of this market.