It is also referred to as 3D cell culture technology which leads to organ formation useful to replace, repair or regenerate any diseased tissue or organs and holds a promising future in cancer and biomedical research.
Drivers and restraints of Global Organoid Technology Market
The global organoid technology market growth is driven by significant growth in the healthcare industry across the globe.
Furthermore, the increasing investment in the pharmaceutical industry for the development of new and innovative products is also attributing to the increasing global organoid technology market size.
However, rising availability for substitutes for organoid technology due to technological advancements may hamper the growth of the market.
Moreover, the high cost of drug testing procedures and lack of skilled professionals may also act as a restraining factor in the market.