The first 'K-Organoid Consortium', a specialized industry-academic-research council for organoids, has been launched in Korea.
The Korea Bio Pharmaceutical Academy held the launch ceremony of the K-Organoid Consortium at the Westin Chosun Hotel in Sogong-dong, Seoul, on the morning of the 13th. Park Jeong-tae, the full-time vice president of the Korea Bio Pharmaceutical Academy, was appointed as the first chairman, and Kim Dong-jung, the vice president of Samsung Biologics, was appointed as the first vice chairman.
Organoid is a newly coined term made by adding the suffix 'oid', meaning similar to an organ. It refers to stem cells that grow into all cells of the human body, cultured into three-dimensional structures similar to organs, and is called a mini-organ. It is gaining attention as a technology that better reflects actual organs than cells cultured in a flat manner, replacing animal experiments.
The K-Organoid Consortium is a collaborative framework for organoids in Korea. It discusses research and development, standardization of advanced technologies, and securing reliability for the development of the organoid industry. The Ministry of Food and Drug Safety decided to provide scientific advice to the consortium. Oh Yu-kyung, the commissioner of the Ministry, noted at the launch ceremony that "we will provide unwavering support for organoid technology."
Commissioner Oh said, "Organoids are a three-dimensional cell model that can mimic the similar structure and function of human organs, and it is an innovative technology that can replace or complement existing animal tests in various fields, including drug development and disease research." She added, "I expect that the research and development of organoid technology in Korea will play a pivotal role in promoting industrialization."
The industry's announcement of the launch of the organoid consortium and the government's commitment to actively support it stems from its recognition as a technology that can significantly reduce the time and expense of drug development. According to the Bio Pharmaceutical Academy, the clinical trial success rate for new drugs that have undergone animal testing is only 5% to 15%, and it takes an average of 30 billion dollars (approximately 4.15 trillion won) and 15 years to develop one new drug. The academy stated that organoids can reflect 85% of the human body, shortening the drug development period by 50% and reducing costs by 70%.
The global market is also rapidly growing. According to market analysis firm Research and Markets, the organoid market is expected to grow at an average annual rate of over 22%, from 15.6 billion dollars (approximately 21.49 trillion won) last year to 42.2 billion dollars (approximately 58.13 trillion won) by 2029.
In particular, the growth rate of organoids in the Asia-Pacific region is estimated to be the highest in the world at 23% to 29%. The size of the domestic market is estimated to be around 250 billion won, with an expected average annual growth rate exceeding 26% from this year until 2030.
In Korea, in May, the organoid specialized company Organoid Science and ROKIT Healthcare were listed on the KOSDAQ stock market. Samsung Biologics entered this market in June by initiating Samsung organoid services, becoming the first large corporation to do so.