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(Health-NewsWire.Net, February 23, 2021 ) Major Growth Boosting Factors:
Factors such as the growing focus on developing alternatives for animal testing models, a significant increase in research funding and venture capital investments for the development of human organoids, growing initiatives to increase awareness about organoids, increasing research activities on organoids, increasing prevalence of non-alcoholic fatty liver disease, and growing need for the early detection of drug toxicity to minimize financial losses due to late-stage drug failure are driving the growth of the human organoids market.
Global Key Players:
BioIVT (US), Thermo Fisher Scientific (US), ZenBio (US), Corning (US), Organovo (US), Cyprio (France), Biopredic International (France), CELLINK (Sweden), Emulate (US), Hµrel Corporation (US), InSphero (Switzerland), Kerafast (US), Kirkstall (UK), and MIMETAS (Netherlands) are some of the major players in the human organoids market among others. The analysis of market developments between 2017 and 2020 revealed that several growth strategies such as research collaborations were adopted by market players to strengthen their product portfolios and maintain a competitive position in the human orgnaoids market.
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BioIVT was founded in 1981 and is headquartered in New York, US. The company is a leading global provider of biological specimens, including human tissues, cell products, blood, and other biofluids. The company provides a wide range of services, ranging from target and biomarker validation, phenotypic assays to characterize novel therapeutics, and clinical assay development to in vitro hepatic modeling solutions. It is a supplier of ADME-Tox model systems, including hepatocytes and subcellular fractions, to better understand the pharmacokinetics and drug metabolism of newly discovered compounds and the effects on disease processes.
Some of the major end users of the company’s products are research organizations, pharmaceutical and biotechnological companies, medical device companies, and academic research institutes. BioIVT offers its products and services across North America, the Asia Pacific, Europe, and the Middle East & Africa. The company has two distributors in the Asia Pacific region, namely, Veritas Corporation (Japan) and Research Institute for Liver Diseases (Shanghai) Co., Ltd. (China).
Thermo Fisher Scientific is engaged in the development, manufacturing, and marketing of analytical instruments, reagents and consumables, equipment, and software products. The company operates its businesses through four segments, namely, Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Services. The human liver model business comes under the Life Sciences Solutions segment. The company pursues both organic and inorganic growth strategies.
The company has a strong geographic presence in more than 50 countries across North America, Asia Pacific, Europe, and Latin America. Its major subsidiaries are Thermo Scientific Microbiology Sdn. Bhd (Malaysia), Thermo Scientific Microbiology Pte Ltd. (Singapore), Laboratory Management Systems, Inc. (US), Thermo Dutch Holdings Limited Partnership (UK), Thermo EGS Gauging LLC (US), Fisher Clinical Services Limited Liability Company (Russia), Fisher Clinical Services Japan K.K., and Thermo Fisher Scientific C.V. (Netherlands).
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