COVID Impact on Organ-on-a-chip Market: Investors See Fruitful Future Post Pandemic
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 2027
This study by Market Research Future brings an all-encompassing framework of the dynamics of the Global Organ-On-a-Chip Market (OOC) 2020. The study comprises a critical assessment of the market based on the latest and emerging avenues and strategic frameworks to enable investment for significant players to make effective decisions. On these parameters, the market will gain a valuation of USD 1,020 Million by 2025, while staggering at 53% CAGR during the assessment period 2019–2025.
Organ-On-a-Chip Market—Boomers & Decliners
The mounting health issues and the growing demand for lung and kidney based organ culture devices have a meaningful impact on the global organ-on-chip market for the forecast period. The rise in initiatives by well-known organizations for implementing the organ on chips technology is also suggested to boost the organ-on-chip market.
In the case of point, back in 2017, Netherlands Organization for scientific research (NWO) put up its plans for the Netherland organ on chip initiative that focused on advancements and growth. However, mimicking the exceedingly complex architecture of human organs came up to be one of the hurdles for the global organ on the chip market for the forecast period.
Simultaneously, more factors such as increasing application of organ-on-chip devices in the healthcare sector, organ-on-chip manufactures, and the rising number of collaborations between pharmaceutical firms drive the global organ-on-chip market. In the case of point, in 2018, CN Bio Innovations launched PhysioMimix, a printer-sized device that allowed scientists to conduct organ-on-chip studies in respective labs, testing new drugs and chemicals on living human organ models. Also, in 2018, NASA announced its intentions to send organ-on-chips to the International Space Station. The purpose behind this activity was to test how human organ cells respond to stress, drugs, and genetic changes and to understand better the role of microgravity on human health and disease.
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On the contrary, the elevated high costs of the organ-on-chip device and complexities associated with organ-on-chip models are likely to present the significant roadblocks for market growth.
Segment Review
The organ type segment includes Lung-on-Chip, Heart-on-Chip, Liver-on-Chip, Intestine-on-Chip, Kidney-on-Chip, Skin-on-Chip, Blood-Brain Barrier-on-Chip, and Human-on-Chip.
The application type segment includes drug discovery, toxicology research, and others.
The end-user type segment includes pharmaceutical companies, research organizations, and others.
Regional Framework
North America region emerged as an important market for the organ-on-chip devices with a 48.64% share of market revenue in 2017. Factors such as surged government support for the novel drug discovery research activities, the presence of excellent academic and research institutes, and a well-established pharmaceutical and biotechnology industry are likely to boost the North America region to develop at the highest CAGR of 39.37% over the forecast period. The prevalence of critical pharmaceutical and biotechnology firms and research facilities led the Europe region to grab a significant share of the global organ-on-chip market in the forecast period.
Asia-Pacific region is also anticipated to get positively affected by the spread of the COVID-19 owing to the effect of the pandemic in Japan, China, and India. China is the epic center of this lethal disease. China is the top country in terms of the chemical industry. Yet, the growing healthcare industry of the Asia Pacific region and the high median age in China is one of the most significant economies in the Asia Pacific region and are significant factors influencing the growth of the global organ-on-chip market for the forecast period.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/organ-on-chip-market-8498
Vendors Landscape
Owing to its noteworthy adoption in multiple applications, the organ-on-chip market is consisting of multiple leading vendors such as CN Bio Innovations Limited (UK), TissUse GmbH (Germany), MIMETAS BV (Netherlands), Hµrel Corporation, Nortis, Inc. (US), InSphero (Switzerland), TARA Biosystems, Inc. (US), Organovo Holdings Inc. (US), and HemoShear Therapeutics, LLC (US).
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