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DUBAI, U.A.E, May 17, 2021 /PRNewswire/ The global organoid market is forecast to grow at a rapid pace for the forecast period starting from 2020 to 2030. Increasing private funding for research and development of therapeutic and diagnostic models is also one of the key factors driving market growth. Organoids are finding use in pathogenesis and regenerative medicines. With rising prevalence of cancer and liver diseases coupled with commercialization of organoid models, promising growth is on the cards for the market, finds ESOMAR-certified consulting firm Future Market Insights in this study.
According to International Federation of Pharmaceutical Manufacturers and Associations, preclinical testing requires nearly 22% of total expenditure allotted for drug discovery. Extensive research and clinical trials towards development of humanized therapeutics paved way for exponential growth of organoid market.
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