Report : Asia Pacific Human Liver Models Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Liver Organoids, Liver-on-a-chip, 2D Models, 3D Bioprinting, and Others), Application (Drug Discovery, Educational, and Others), and End User (Pharmaceutical and Biotechnology Companies, Research Institutes, and Others)
Pharmaceutical and Biotechnology Companies Segment to Dominate APAC Human Liver Models Market During 2021–2028
According to a new market research study on “APAC Human Liver Models Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Application, and End User,” is expected to reach US$ 76,341.40 thousand by 2028 from US$ 33,191.56 thousand in 2021. The market is estimated to grow at a CAGR of 12.6% from 2021 to 2028. The report provides trends prevailing in the APAC human liver models market along with the drivers and restraints pertaining to the market growth. Increasing focus on drug discovery activities and technology advancements in organ printing are the major factor driving the growth of the APAC human liver models market. However, high costs of liver models hinders the growth of APAC human liver models market.
The APAC biopharmaceutical industry has been disturbed for a few months in 2020 during the outbreak of COVID-19. The COVID-19 pandemic interrupted clinical trials due to restrictions imposed to control the spread of infection. However, with the rising demand for products to treat the COVID-19 infection, the biopharmaceutical and pharmaceutical companies in India and China continued to focus on research activities. For instance, in February 2020, Vir Biotechnology (US) partnered with WuXi Biologics (China) to develop human monoclonal antibodies to treat COVID-19 infections. This partnership involves clinical development, manufacturing, and commercialization, and WuXi Biologics will be responsible for process and formulation development and early production for clinical development. Moreover, companies in the region have put core activities on hold to focus on the COVID-19 vaccine development. For instance, in March 2020, biotech CRO Novotech (Australia) partnered with Komipharm International (South Korea) for clinical trials of Panaphix as a potential treatment for COVID-19. The recent restrictions imposed by many countries in response to the COVID-19 outbreak have impacted ongoing clinical research.
The APAC human liver models market has been segmented based on type, application, end user, and country. Based on type, the market is segmented into liver organoids, liver-on-a-chip, 2D models, 3D bioprinting, and others. The liver organoids segment dominated the market in 2020 and liver-on-a-chip segment is expected to be fastest growing during forecast period. Based on application, the market is segmented based on drug discovery, educational, and others. The drug discovery segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on end user, the market is segmented into pharmaceutical and biotechnology companies, research institutes, and others. The pharmaceutical and biotechnology companies segment dominated the market in 2020 and same segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into China, India, Japan, South Korea, Australia, and rest of APAC.
BioIVT; CELLINK; CYFUSE BIOMEDICAL K.K.; Emulate, Inc.; InSphero; Kerafast; MIMETAS BV; and THERMO FISHER SCIENTIFIC INC. are among the leading companies in the APAC human liver models market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, CELLINK has initiated the process of changing name to BICO. The new name reflects the Group's strategic bio convergence agenda and emphasizes that the company now comprises a Group consisting of several subsidiaries divided into three business areas.
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