Organ-on-Chip Market to Reach $1.6 Bn, Globally, by 2030 at 31.1% CAGR: Allied Market Research

Increase in applications of organ-on-chip in the healthcare sector, rise in demand for drug screening, and surge in demand for lung-based organ culture & kidney applications drive the growth of the global organ-on-chip market.

PORTLAND, Ore., April 20, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Organ-on-Chip Market by Type (Heart on chip, Human on chip, Intestine on chip, Kidney on chip, Liver on chip, Lung on chip): Global Opportunity Analysis and Industry Forecast, 2020-2030." According to the report, the global organ-on-chip industry was estimated at $103.44 million in 2020, and is anticipated to hit $1.6 billion by 2030, registering a CAGR of 31.1% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Increase in applications of organ-on-chip in the healthcare sector, rise in demand for drug screening, and surge in demand for lung-based organ culture & kidney applications drive the growth of the global organ-on-chip market. On the other hand, high development & manufacturing cost and the technology being in the nascent stage restrain the growth to some extent. However, high market potential in the developing emerging economies for R&D, rise in various strategies among governments & key players, and development of pipeline products are anticipated to create lucrative opportunities in the industry.

Covid-19 scenario-

• Organ-on-Chip emerged as a favorable technology for the development of vaccines & drugs, which were under clinical trials. This, in turn, impacted the global organ-on-chip market positively.
• This trend is most likely to persist till the pandemic is completely over.

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The lung on chip segment to maintain the dominant share-

Based on product, the lung on chip segment held more than one-fifth of the global organ-on-chip market revenue in 2020, and is expected to lead the trail by 2030. Lower lung transplantations have led to development of laboratory engineered chips to mimic their functions. This factor propels the segment growth. The heart on chip segment, on the other hand, would manifest the fastest CAGR of 32.8% from 2021 to 2030, due to surge in cardiac issues among people across the globe.

North America garnered the major share in 2020-

Based on region North America held the major share in 2020, generating more than two-fifths of the global organ-on-chip market. This is owing to rapid adoption of advanced technologies and presence of key players across North America. The Asia-Pacific region, simultaneously, would grow at the fastest CAGR of 33.1% by 2030, due to rise in R&D activities for the development of organ-on-chip models.

Key players in the industry-

• BICO Group AB(Visikol)
• CN Bio Innovations Limited
• Elveflow
• Emulate, Inc.
• AxoSim Technologies LLC
• Nortis Inc.
• Tara Biosystems
• Organovo Holdings, Inc.
• Insphero AG
• Mimetas B.V.

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