Organ-On-Chip Market Size to Grow USD 81.2 Million by 2028 with a CAGR of 39.1% | Valuates Reports
BANGALORE, India, July 11, 2022 /PRNewswire/ -- The Global Organ On Chip (OOC) 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), by Application (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Cosmetics Industry): Opportunity Analysis and Industry Forecast, 2022–2028.
Due to the COVID-19 pandemic, the global Organ-on-a-Chip market size is estimated to be worth USD 80 Million in 2022 and is forecast to be a readjusted size of USD 581.2 Million by 2028 with a CAGR of 39.1% during the review period.
Major Factors Driving the Growth of Organ on Chip market:
The main drivers anticipated propelling the growth of the organ-on-chip market are an increase in the number of drug discoveries, research studies, and growing demand for Personalized Medicine. The drug development pipeline can naturally incorporate organ-on-a-chip technology, bridging the gap between animal studies and clinical trials involving human participants from early drug discovery to preclinical screening, testing, and translation of new medications.
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ORGAN ON CHIP MARKET TRENDS AND GROWTH
Due to the high expectations for accurately reproducing important elements of the human physiology environment and the possibility to replace animal models, organ-on-a-chip technology is growing in popularity in biological research. This factor is expected to drive the growth of the Organ on the Chip market. Organs-on-chip technology could speed up the time it takes for therapeutic compounds to enter clinical trials by reducing the reliance on animal testing, which is now the main method used to evaluate the kinetics, efficacy, and safety of medication candidates.
The need for organ-on-chip in the healthcare sector is expected to drive market growth. One use for organ-on-chip technology in the medical field is real-time imaging, in vitro biochemical analysis, and genetic and metabolic activities of living cells in a functional tissue. Growth in the organ-on-chip market is being fueled by improvements in cell biology, microfabrication, and microfluidics, which have increased the acceptance of organ-on-chips.
Organ-on-chip technology became well-known during the COVID-19 pandemic as a viable method for creating medications and vaccines that were being studied and tested for the infection. As a result, it had a very favorable effect during the pandemic.
Increasing Demand For Personalized Medicine is expected to fuel the growth of the organ-on-chips market. The demand for personalized medicine is rising globally, notably in the treatment of cancer, as a result of personalized medicine's significant influence on the healthcare sector. The microfluidic systems with integrated stem cells display behaviors that mimic individual organ-level physiology regulated and dynamic microenvironment circumstances.
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ORGAN ON CHIP MARKET SHARE
The lung-on-chip segment is expected to be the most lucrative. This is because fewer lung transplants have been performed, which has led to the creation of lab-engineered chips that imitate their functions and are used to test drugs for respiratory illnesses.
The organ on chip market is expected to grow significantly in the Asia-Pacific region as a result of increased R&D efforts, increased healthcare investment, and different business strategies used by leading players.
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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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