Organ-on-a-chip Market Growth is driven by Rise in its Applications in the Healthcare Industry
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
Market Overview
Organ-on-a-chip market to capture a phenomenal growth rate of 53% between 2020 and 2027, reveals Market Research Future (MRFR).
Primary Boosters and Main Barriers
With escalating demand for advanced organ-on-chip devices by the healthcare sector, it is presumed that the market size will continue to expand rapidly in the coming years. Organ-on-chip devices are used primarily in in-vitro assessment of biochemicals, real-time imaging, and metabolic and genetic activities of the living cells present in a functional tissue. The steadily expanding application scope of OOCs is expected to boost the market demand in the years to come.
Drug screening is an effective and cost-effective technique that is deployed for rapidly assessing samples. Researchers and scientists make use of organ-on-chip culture devices to evaluate the effects of different drugs within the body. In addition, drug toxicity or effectiveness of the drug in different organs is assessed using this method, and the rising number of these processes is expected to favor the global market. It is believed that lower number of donors for lungs to be transplanted is one of the leading causes for patient deaths. This has resulted in a significant need to design functional, laboratory-engineered organs, which ultimately bolsters the market growth.
The biopharmaceutical sector and the research community have become extremely proactive since the COVID-19 outbreak. Following the pandemic, organ-on-chip has turned into one of the most versatile technologies used for developing drugs and vaccines. Simply put, the novel coronavirus has emerged as a lucrative opportunity for the organ-on-a-chip market and will ensure consistent growth throughout the evaluation period.
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Market Segmentation
The organ-on-a-chip industry has been studied with respect to organ type, application, and end-user.
The various organ types considered in the report include heart-on-chip, lung-on-chip, intestine-on-chip, liver-on-chip, skin-on-chip, kidney-on-chip, human-on-chip, blood-brain barrier-on-chip, and others.
Top applications of OOCs are toxicology research, drug discovery, and more. Drug discovery is projected to be the top segment and would therefore, capture the highest portion of the global market. OOCs are extensively deployed by pharmaceutical firms for drug discovery as well as clinical trials for diverse chronic therapeutic areas. The second position has been taken by the toxicology research segment, thanks to the surge in R&D activities, government efforts along with funding given to the research institutes, and the universities focused on using OOCs during toxicology research as well as drug testing.
Major industry end-users are research organizations, pharmaceutical companies, and more. The pharmaceutical company is touted to be the biggest segment in the market due to the soaring number of pharmaceutical companies making use of OOCs for drug toxicity, efficacy testing, and R&D. The research organization segment procures the second lead in the market, given the surging number of major research organizations, non-profit research centers, and universities focused on suing OOCs in advanced drug toxicology testing.
Regional Insight
The five top geographies considered in the market report include Europe, Latin America, APAC/Asia Pacific along with the Middle East & Africa/MEA, and North America.
America as emerged as the market leader, largely due to the wide availability of extensive lines of services provided by the renowned players and the surge in chemicals’ toxicological testing on a variety of organ cells. Massive spending by private as well as public institutes on exhaustive research activities also add to the market worth in the region. A large number of research institutions in the region are proactively carrying out research activities and studies to accelerate technologies for organ-on-chip, which could mean further market elevation in the future.
Europe is placed second in the global industry, and it is also presumed that the region will continue to thrive at a healthy rate between 2020 and 2027. Establishment of numerous reputed OOC developers across Germany, the UK, Italy, Spain, and France, along with government efforts as well as funding for research activities benefit the European market. The rise in collaborations between companies and institutes and universities for the development of better quality OOCs, coupled with the presence of a well-established healthcare infrastructure will also foster the market size in the following years.
Asia Pacific is touted to capture the fastest growth rate in the years ahead as the region has a favorable regulatory framework that has fostered the approval rate of OOCs in Australia, South Korea, China, and Japan. Also, the high burden of various chronic diseases, extensive use of OOC devices by the healthcare industry and the soaring demand in drug screening will add to the market value in the years to come. Apart from this, the rising OOC demand for kidney and lung -based organ culture, and the incredible increase in the number of research activities pertaining to OOC devices could leave a positive impact on the regional market as well.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/organ-on-chip-market-8498
Top Market Firms
Organovo Holdings Inc. (US), Emulate, Inc. (US), TissUse GmbH (Germany), HemoShear Therapeutics, LLC (US), Nortis, Inc. (US), CN Bio Innovations Limited (UK), TARA Biosystems, Inc. (US), Axosim (US), MIMETAS BV (Netherlands), Hµrel Corporation, BioIVT (US), InSphero (Switzerland), are the important industry contenders with expertise in organ-on-a-chip.
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