The report titled “Organ on a Chip Market: Global Demand Analysis & Opportunity Outlook 2024”delivers detailed overview of the global organ on a chip market in terms of market segmentation by organ and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global organ on a chip market is segmented into organ such as heart-on-chip, human-on-chip, intestine-on-chip, kidney-on-chip, liver-on-chip and lung-on-chip.
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Among these segments, lung-on-chip segment captured the largest market in overall organ on a chip market in 2016 and it is expected to continue its dominance during the forecast period. Likely, increasing incidences of lung failure across the globe is envisioned to propel the growth of lung-on-chip segment. Moreover, increasing government initiatives and funding is also positively impacting the growth of organ on a chip market.
Global organ on a chip market size is expected to register a notable CAGR over the forecast period. Moreover, the global organ on a chip market is anticipated to reach at noteworthy revenue by 2024. The market is expected to expand on the back of increasing rate of organ transplant coupled with advancement in transplant technology.
In terms of regional platform, North America region captured the largest market of organ on a chip in terms of revenue owing to increasing utilization of organ on a chip in organ transplantation coupled with rising number of organ transplantation. Furthermore, U.S. is the prominent market in the region. Apart from this, Asia-Pacific region is the most lucrative market due to emerging economies such as India and China. In addition to this, increasing adoption of technologically advanced medical devices is expected to positively drive the growth of the market in the Asia Pacific region.
Rapid Development in Healthcare Infrastructure
Rapid development of healthcare industry in many nations across the globe is anticipated to positively impact the growth of the organ on a chip market. In addition to this, increasing spending on the development of healthcare infrastructure is envisioned to bolster the growth of organ on a chip market. For e.g. U.S. spends 16% of its GDP on healthcare. Similarly, substantial funding for the development of organ on chip is expected to fuel the growth of the organ on a chip market.
Favorable Government Initiatives
Government of various nations are emphasizing on adoption of better healthcare technologies. For instance, government of India has targeted development of 50 new technologies in 2016. Apart from this, technological advancement in organ transplant and favorable government initiatives such as research funding coupled with increasing research activities are anticipated to supplement the growth of organ on a chip market.
Although, high cost associated with organ on a chip is expected to limit the growth of organ on a chip market. Moreover, lack of awareness in developing and undeveloped nations is hindering the growth of organ on a chip market.
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This report also provides the existing competitive scenario of some of the key players of the global organ on a chip market which includes company profiling of Emulate, Inc., AxoSim Techologies LLC, CN Bio Innovations Ltd., HµREL Corporation, Hepregen Corporation, InSphero AG, MIMETAS B.V, Nortis Inc., TARA Biosystems, Inc. and TissUse GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global organ on a chip market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Organ-on-a-chip Market Research Report: By Organ Type (Lung-on-Chip, Heart-on-Chip, Liver-on-Chip, Intestine-on-Chip, Kidney-on-Chip, Human-on-Chip), By Application (Drug Discovery, Toxicology Research, Others) and By End-User (Pharmaceutical Companies, Research Organizations, Others) – Forecast to 2027Overview:The global organ-on-a-chip market is expecting a strong CAGR for the coming years during the forecast period covering 2019 to 2025.
A surge in the creation of better human disease models can also boost the prospect of this market.
The fetched data from these segments are expected to help the assessment of various strategic moves of this market.
By organ type, the global market can be segmented on the basis of lung-on-chip, heart-on-chip, intestine-on-chip, liver-on-chip, kidney-on-chip, human-on-chip, skin-on-chip, and blood-brain barrier-on-chip.
Other segments are also in line to impact the global healthcare sector.
North America is known for its superior infrastructure and benefits related to funding, owing to which the market may record easy growth in the coming years.
Market HighlightsAccording to MRFR analysis, Organ-On-a-Chip Market is expected to register a CAGR of 53% during the forecast period of 2019 to 2025 and was valued at USD 51.3 Million in 2018.Organs-on-chips (OOCs) are small plastic devices with biocompatible microfluidic chambers, which contain multiple live human cells in a 3D culture that simulate crucial physiological functions of body organs.
These cells are placed in an environment that artificially replicates aspects of the human body, such as morphology, movement, flow, electrical stimuli, and liquid gradients.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/8498The global organ-on-a-chip market is growing owing to various reasons, such as an increase in the number of collaborative sales agreements between pharmaceutical companies and university spin-offs and the availability of advanced models of OOCs in the market.
The Western European market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.
The organ-on-a-chip market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific.Asia-Pacific is the fastest-growing region in the market.
This is mainly due to the increased application of OOCs for drug screening for the treatment of various chronic diseases and a supportive regulatory framework in Asia-Pacific.
Such favorable factors are expected to boost market growth during the forecast period.The organ-on-a-chip market in the Middle East & Africa has been divided into the Middle East and Africa.SegmentationThe global organ-on-a-chip market has been segmented based on organ type, application, and end-user.The global organ-on-a-chip market has been segregated, based on organ type, into lung-on-chip, heart-on-chip, liver-on-chip, intestine-on-chip, kidney-on-chip, skin-on-chip, blood-brain barrier-on-chip, human-on-chip, and others.The market based on application has been branched into drug discovery, toxicology research, and others.
