Global Organ-on-Chip Market is expected to grow at a CAGR of 36.74% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Organ-on-Chip Market by Type (Liver, Heart, Lung, Kidney, Intestine, Others), Application, End-User, Regions, and Global Forecast 2018-2025.
As per the report, the global organ-on-chip market is expected to grow from USD 9.93 Million in 2017 to USD 121.37 Million by 2025, at a CAGR of 36.74% during the forecast period from 2018-2025. North America region emerged as the leader in the global organ-on-chip devices market with a 48.64% share of market revenue in 2017, followed by Europe.
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Major players in the global organ-on-chip market are Emulate Inc., CN Bio Innovations, TissUse, Mimetas BV, InSphero AG, Ascendance Biotechnology, Inc., Kirkstall, Hurel Corporation, SynVivo, AxoSim Technologies LLC, Nortis Inc, Organovo Holdings, Inc, Tara Biosystems, Elveflow, TissUse GmbH, Roche Holding AG, and among others. Organ-on-chip models have opened a newer door to the drug discovery and disease research. For instance NASA in 2018, announced its intentions to send organ-on-chips to the International Space Station. The purpose behind this activity is to test how human organ cells respond to stress, drugs and genetic changes and to better understand the role of microgravity on human health and disease.
Type segment is divided into liver, heart, kidney, lung, intestine and others. Growing prevalence of liver related diseases coupled with ability of on-chip hepatic tissues to maintain metabolic activity and phenotype similar to the actual liver were the factors that led liver segment to lead the global organ-on-chip market with a 38.41% share of revenue in 2017. Kidney segment is projected to attain the highest CAGR of 38.79% over the forecast period owing to increasing incidence of renal diseases and growth in the research grants for the nephrological research. Application segment is categorized into physiological model development, drug development and toxicological research. Growing emphasis on development of novel drugs with improved efficacy, rising preference for alternatives to conventional cell culture and animal testing models are anticipated to propel the drug discovery segment to grow at the highest CAGR of 39.17% over the forecast period. End user is segmented into pharmaceutical and biotechnology companies, academic and research institutes and others. Factors such growing emphasis on the research and development activities for finding the cures for the incurable diseases such as Cancer, Alzheimer’s, led pharmaceutical and biotechnology companies to emerge as the largest with a 42.39% share of revenue in 2017. Academic and research institutes segment is projected to grow at the highest CAGR of 38.26% over the forecast period
Factors such as growing application of organ-on-chip devices in the healthcare sector, rising number of collaborations between pharmaceutical firms and organ-on-chip manufactures are driving the global organ-on-chip market. Whereas high cost of organ-on-chip device as well as complexities associated with organ-on-chip models are expected to present the major roadblocks for the market growth.
About the report:
The global Organ-on-Chip market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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- CDN Newswire