Organ-on-chip Market to Grow with an Impressive CAGR During the Forecast Period
Increasing renal
disease is driving the growth in Global Organ-on-chip Market in the forecast
period, 2022-2026.
According to TechSci Research report, “Organ-on-Chip
Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026
Segmented By Type (Liver, Heart, Lung, Kidney, Others), By Offering (Products
v/s Services), By Material Type (Polymer, PDMS, Glass, Silicon, Others), By
Application (Physiological Model Development, Drug Discovery, Toxicological
Research, Molecular Biology, Others), By End User (Pharmaceutical &
Biotechnology Companies, Academic & Research Institutes, Cosmetic Industry,
Others), By Region”, the global organ-on-chip market would potentially
project an impressive growth in the forecast period, 2022-2026, with an
impressive CAGR on the account of rapidly evolving healthcare industry in major
economies as well as developing nations. Recent pandemic caused a high alert
for the healthcare industry to expand, research and evolve and thus the major
driving factor for the global organ-on-chip market in the upcoming five years.
Organ-on-chip is a technologically advanced medical device that in layman’s
term beneficial for the treatment of the failing or ruptured organs of the
human body. This is a microfluidic
cell culture device that is developed to contain continuously perfused chambers
inhabited by living cells arranged to simulate tissue- and organ-level
physiology. Microchip manufacturing methods are used to develop these chips. A
narrow channel is developed such that blood and air flow in organs like lung,
liver, heart, kidney, gut, etc. can be maintained. The organ-on-chip devices
produce multiple level of cells that perform the functionalities of the tissues
or organ physiology. Applications of these devices involve diseases modelling,
patient stratification, and phenotypic screening.
Moreover, rising demand for the drug toxicity in
the human cells after consumption is driving the growth of the global
organ-on-chip market. Government funding, private investments are further
substantiating the growth of the global organ-on-chip market in the future five
years.
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The global organ-on-chip market is segmented by
type, offering, material type, application, end user, competitional landscape,
and regional distribution. Based on offering, the market is further segmented
into products and services. Services are anticipated to hold the larger revenue
shares of the market and dominate the market segment in the upcoming five years
in the account to surging demand for the efficient and effective treatment
methods. Rapidly increasing cases of cardiovascular diseases, neurological
diseases, renal failure, etc. are also substantiating the growth of the global
organ-on-chip market in the future five years. Moreover, technological
advancement in the medical devices is further substantiating the growth of the
products sub-segment in the future five years. The sub-segment is expected to
register significant growth in the next five years.
Based on type, the market is further bifurcated
into liver, heart, lung, kidney, and others. Heart sub-segment is anticipated
to hold the largest revenue shares of the market and dominate the market
segment in the upcoming five years on the account of increasing instances of
cardiovascular diseases and surging demand from the patients opting for the
advanced medical facilities. Rapidly increasing necessities in the research and
development areas also aided the potential growth of the global organ-on-chip
market in the future five years. Lung sub-segment is anticipated to register
the fastest growing CAGR in the future five years on the account of surging
demand for the same to overcome the damages caused due to SARS-CoV2 virus. The
recent pandemic situation, experienced widespread COVID-19 virus that claimed
many lives while affecting population’ cardiovascular system.
Market giants like Emulate, Inc., AxoSim Inc.,
Kirkstall Ltd., TissUse GmbH, Nortis Inc., Mimetas BV, Hurel Corporation,
Ascendance Biotechnology, Inc., InSphero AG, CN Bio Innovations, Organovo
Holdings, Inc., TARA Biosystems, Inc., BiomimX SRL, SynVivo, Inc., Hesperos,
Inc., among others are holding major shares of the global organ-on-chip market.
Market players are actively involved in the research and technological
development in the product developments. The advanced technology has made it
possible for the industry to provide excellent services through organ-on-chip.
Further advancement would aid the market value and brand establishment in the
future five years. New market players may focus on the research and development
to provide options that satisfies the consumer demand as well as benefits the
market players in building their brand value. Other competitive strategies
include mergers & acquisitions and new product developments.
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“North America is
anticipated to emerge as the most promising region for the future market
growth. The market growth is relied on the backbone of the advancing healthcare
facility. Moreover, technological advancement and consistent research for the
development of the microchips is further aiding the future growth of the
market. New market players entering the market must focus on the development of
the organ-on-chip devices that are more advanced and feasible to implant.
Collaborations with the existent players and industry experts would aid their
brand establishment,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based Global management consulting firm.
“Organ-on-Chip Market -
Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented
By Type (Liver, Heart, Lung, Kidney, Others), By Offering (Products v/s
Services), By Material Type (Polymer, PDMS, Glass, Silicon, Others), By
Application (Physiological Model Development, Drug Discovery, Toxicological
Research, Molecular Biology, Others), By End User (Pharmaceutical &
Biotechnology Companies, Academic & Research Institutes, Cosmetic Industry,
Others), By Region”,
has evaluated the future growth potential of global organ-on-chip and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in global organ-on-chip market.
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