DUBLIN–(BUSINESS WIRE)–The “South and Central America Analysis Organoids Market Forecast to 2027 – COVID-19 Impact and Regional Analysis By Type; Application; Source, and Country” report has been added to ResearchAndMarkets.com’s offering.
South and Central America Organoids Market is expected to US$ 98.85 million by 2027 from US$ 27.12 million in 2019 and the market is expected to grow at a CAGR of 20.3% from 2020 to 2027.
By application, however drug discovery and personalized medicine is expected to register CAGR of 21.8% in the market during the period 2020-2027. The development of new drugs is currently a long and costly process In large part due to the failure of promising drug candidates identified in initial in vitro screens to perform as intended in vivo.
New approaches to drug screening are being developed which focus on providing more biomimetic platforms. Pharmaceutical companies are looking for ways to save time and money in the drug discovery process. If there was a way to determine a therapys impact in the pre-clinical process, researchers would have a better understanding of where to focus their efforts. This is where organoids come in.
The growth of the South and Central America organoids market is mainly attributed to the increasing adoption of personalized drugs and drug discovery, growing focus on reducing animal use in research. However, issues related to the lack of skilled professionals are the major factor hindering the market growth.
STEMCELL Technologies, Inc, Thermo Fisher Scientific, Corning Incorporated (Life Sciences), Merck KGgA are among the leading companies operating in the South and Central America organoids market.
Key Market Dynamics
Key Market Drivers
- Increasing Adoption of Personalized Drugs and Drug Discovery
- Growing Focus on Reducing Animal Use In Research
Market Restraints
- Lack of Skilled Professionals
Market Opportunities
- Increasing Focus on COVID-19 Research and Drug Discovery
Future Trends
- Combining Organoid with Organ-On-A-Chip
The report segments South and Central America Organoids Market as follows:
By Type
- Stomach
- Intestine
- Liver
- Pancreas
- Lung
- Brain
- Kidney
- Others
By Application
- Developmental Biology
- Disease Pathology of Infectious Disease
- Regenerative Medicine
- Drug Toxicity and Efficacy Testing
- Drug Discovery and Personalized Medicine
- Others
By Source
- Pluripotent Stem Cells
- Organ-specific Adult Stem Cells
By Country
- Brazil
- Argentina
- Rest of South and Central America
For more information about this report visit https://www.researchandmarkets.com/r/8exdh7.
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