Medical science has witnessed maximum number of advancements over last couple of decades. Thanks to these advancements, the healthcare industry at present is worth trillions. In an attempt to bring latest drugs into the market, the pharmaceutical companies are pumping in lots of money and are still unable to get expected results. This is exactly where organ-on-chip devices arrive in the picture. These latest devices are capable of mimicking human body processes like breathing, detecting infections and peristalsis. While the existing static cell, planar and animal testing have failed to produce accurate results in terms of predicting efficacy and safety of new drugs, the organ-on-chip devices are proving to be a boon for medical research companies.
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The recent COVID-19 pandemic dented the growth of the global organ-on-chip market. As it paralyzed the global economy, most of the industries including this one took a hit. Shutdown of computer chip manufacturing companies due to unavailability of labour and no logistics immensely impacted this market in a negative way. While the diagnosis of a disease is easy and standard treatment procedures can be followed, but medical conditions can vary person to person. And this is exactly why the demand for personalized medicine is going upwards. Personalized medicine focuses on accurate or more apt cause of the ailment and can help in rapid recovery of the patient. It may also take care of any side effects that are derived from common medications. Meanwhile the use of organ-on-chip devices is a costly affair. These minute devices cost on the higher side and cannot be afforded by everyone, this may dent the growth of the organ-on-chip market. Similarly personalized treatment is also expensive and hence proves to be a restraining factor at the same time. Irrespective of couple of hurdles, the organ-on-chip market is forecasted to grow rampantly over the period of next few years. The extensive research activities, especially post COVID will drive the growth of this market.
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Key Takeaways – Global Organ-on-Chip Market:
- On the basis of offering, the services segment is forecasted to grow at the fastest rate courtesy of recurring nature of revenue it generates for the organ-on-chip market.
- The most used or preferred type of organ-on-chip device happens to be double channel design. This design is being extensively used to study organs like blood-brain barrier, intestine and lungs. As these devices are helpful in evaluating safety and efficacy of drugs prior to clinical trials, these are rapidly being used by biopharmaceutical companies. This segment is forecasted to witness growth at the fastest rate over the years.
- The region of Asia Pacific is forecasted to witness growth at the fastest rate for the global organ-on-chip market. Countries like China, India, Japan and South Korea are considered as the hub of medical research companies. Similarly, presence of major computer chip manufacturers also drives the growth of this market.
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Some of the major players operating in the global organ-on-chip market are listed below:
- AxoSim Inc.
- BiomimX S.r.l
- CN Bio Innovations
- Emulate Inc.
- InSphero AG
- Mimetas BV
- Nortis Inc.
- Tara Biosystems
- TissUse GmbH
- Other Market Participants
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Global Organ-on-Chip Market
By Organ Type
- Toxicology Research
- Molecular Biology
- Disease Modelling
- Food Safety and Quality Testing
- Biopharmaceutical Companies
- Academics and Research Institutes
- Food & Beverages
By Type of Material
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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Our 420+ Pages Report titled, “Global Organ-on-Chip Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2015 - 2030”, will include extensive information on the following pointers:
- Global market size and forecast values (2015 – 2030), in terms of revenue (US$ Million) by segments/sub-segments
- Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
- Years Considered (2015 – 2030)
- Historic Years: 2015 - 2020
- Base Year: 2021
- Forecast Years: 2022 – 2030
- Market determinants and Influencing Factors
- Market Dynamics (Drivers, Restraints, Opportunities, and Trends)
- Analysis on Impact of Covid-19: Global Organ-on-Chip Market
- Macro-Economic and Micro-Economic Indicators
- Porter’s Five Forces Analysis
- Competitive Benchmarking: Global Presence and Growth Strategies
- Mergers and Acquisitions
- Product Launches
- Investments Trends
- R&D Initiatives
- Market Share Analysis, 2021
- Detailed profiles of major market participants operating in the market, encompassing information pertaining to company details, company overview, product offerings, key developments, financial analysis, SWOT analysis, and business strategies
- Region-specific reports including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America are also available in our repository.
- The reports can be provided in different languages including French, Korean, Japanese, Arabic, Spanish, German, Russian, Chinese, and other languages.
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