Organ On Chip Market Size to Grow USD 621.2 Million by 2029 with a CAGR of 31.2% | Valuates Reports
BANGALORE, India, May 10, 2023 /PRNewswire/ -- The Global Organ On Chip Market is Segmented by Type (Liver-on-a-chip, Kidney-on-a-chip, Lung-on-a-chip, Heart-on-a-chip, Intestine-on-a-chip, Brain-on-a-chip, Vessel-on-a-chip), by Application (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Cosmetics Industry): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is published in Valuates Reports under the Pharmaceuticals & Biotech Category.
The global Organ On Chip market revenue was USD 88 Million in 2022 and is forecast to a readjusted size of USD 621.2 Million by 2029 with a CAGR of 31.2% during the review period (2023-2029).
The development of substitutes for animal testing models, the significant increase in research funding and venture capital investments for the development of organs-on-chips, technological advancements and the introduction of new products, and the rising number of partnerships and collaborations between pharmaceutical companies and organs-on-chips manufacturers are the main factors driving the growth of Organ On Chip market.
TRENDS INFLUENCING THE GROWTH OF THE ORGAN ON CHIP MARKET:
Globalization has increased worries about the spread of illnesses and highlighted the necessity for rapid and effective drug screening procedures. A high failure rate in clinical trials has rendered outdated methods to medication effectiveness and toxicity. Organ-on-a-chip has become a vital replacement for antiquated methods since it accurately simulates key organ properties and predicts medication pharmacokinetics in a more morally and effective way. This factor is expected to drive the growth of the Organ on the chip market.
Because the liver has high levels of drug-metabolizing enzymes that process the majority of drugs, the liver is susceptible to damage brought on by drugs. However, because the drug-metabolizing activities of hepatocytes cultured under standard static 2D cell culture conditions are lower than those of the human liver, it is challenging to assess these injuries in vitro. Contrarily, liver-on-a-chips are useful for preserving the hepatocytes' capacity to metabolize drugs. Additionally, liver-on-a-chips with biosensors that can measure cytokine and oxygen concentrations for real-time evaluation have been developed because the exposure time before the onset of injury varies with the drug. This advantage offered by liver-on-a-chip is in turn expected to drive the market growth.
The fundamental benefit of these chips is that they can be produced at extremely little cost, allowing researchers to assess the effectiveness of various medication concentrations. This will enable the scientific study to go much more quickly with organs-on-chip technology. The initial set of testing may be carried out repeatedly without running the danger of running into financial issues throughout the development of a new medicine. Additionally, there wouldn't be any ethical problems associated with animal testing, which is currently a growing source of concern for society. Organs on chips would put a stop to the practice of raising test animals for medical research, which is a topic of increasing discussion. This factor is expected to drive the growth of the Organ on the chip market.
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ORGAN ON CHIP MARKET SHARE ANALYSIS:
Emulate, TissUse, Mimetas, CN Bio Innovations, Valo Health, and other leading companies are involved in the global organ-on-chip market. A share of around 58% is held by the top 5 manufacturers worldwide.
The largest market is North America, with a share of around 42%, followed by Europe and Asia-Pacific, each of which has a share of over 50%.
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Key Companies:
- Emulate
- TissUse
- Hesperos
- CN Bio Innovations
- Tara Biosystems
- Draper Laboratory
- Mimetas
- Nortis
- Micronit Microtechnologies B.V.
- Kirkstall
- Cherry Biotech SAS
- Else Kooi Laboratory
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