Increasing renal disease is driving the growth in Global Organ-on-chip Market in the forecast period, 2022-2026.
Organ-on-chip is a technologically advanced medical device that in layman’s term beneficial for the treatment of the failing or ruptured organs of the human body. This is a microfluidic cell culture device that is developed to contain continuously perfused chambers inhabited by living cells arranged to simulate tissue- and organ-level physiology. Microchip manufacturing methods are used to develop these chips. A narrow channel is developed such that blood and air flow in organs like lung, liver, heart, kidney, gut, etc. can be maintained. The organ-on-chip devices produce multiple level of cells that perform the functionalities of the tissues or organ physiology. Applications of these devices involve diseases modelling, patient stratification, and phenotypic screening.
Moreover, rising demand for the drug toxicity in the human cells after consumption is driving the growth of the global organ-on-chip market. Government funding, private investments are further substantiating the growth of the global organ-on-chip market in the future five years.
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The global organ-on-chip market is segmented by type, offering, material type, application, end user, competitional landscape, and regional distribution. Based on offering, the market is further segmented into products and services. Services are anticipated to hold the larger revenue shares of the market and dominate the market segment in the upcoming five years in the account to surging demand for the efficient and effective treatment methods. Rapidly increasing cases of cardiovascular diseases, neurological diseases, renal failure, etc. are also substantiating the growth of the global organ-on-chip market in the future five years. Moreover, technological advancement in the medical devices is further substantiating the growth of the products sub-segment in the future five years. The sub-segment is expected to register significant growth in the next five years.
Based on type, the market is further bifurcated into liver, heart, lung, kidney, and others. Heart sub-segment is anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the account of increasing instances of cardiovascular diseases and surging demand from the patients opting for the advanced medical facilities. Rapidly increasing necessities in the research and development areas also aided the potential growth of the global organ-on-chip market in the future five years. Lung sub-segment is anticipated to register the fastest growing CAGR in the future five years on the account of surging demand for the same to overcome the damages caused due to SARS-CoV2 virus. The recent pandemic situation, experienced widespread COVID-19 virus that claimed many lives while affecting population’ cardiovascular system.
Market giants like Emulate, Inc., AxoSim Inc., Kirkstall Ltd., TissUse GmbH, Nortis Inc., Mimetas BV, Hurel Corporation, Ascendance Biotechnology, Inc., InSphero AG, CN Bio Innovations, Organovo Holdings, Inc., TARA Biosystems, Inc., BiomimX SRL, SynVivo, Inc., Hesperos, Inc., among others are holding major shares of the global organ-on-chip market. Market players are actively involved in the research and technological development in the product developments. The advanced technology has made it possible for the industry to provide excellent services through organ-on-chip. Further advancement would aid the market value and brand establishment in the future five years. New market players may focus on the research and development to provide options that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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“North America is anticipated to emerge as the most promising region for the future market growth. The market growth is relied on the backbone of the advancing healthcare facility. Moreover, technological advancement and consistent research for the development of the microchips is further aiding the future growth of the market. New market players entering the market must focus on the development of the organ-on-chip devices that are more advanced and feasible to implant. Collaborations with the existent players and industry experts would aid their brand establishment,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Organ-on-Chip Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2016-2026 Segmented By Type (Liver, Heart, Lung, Kidney, Others), By Offering (Products v/s Services), By Material Type (Polymer, PDMS, Glass, Silicon, Others), By Application (Physiological Model Development, Drug Discovery, Toxicological Research, Molecular Biology, Others), By End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Cosmetic Industry, Others), By Region”, has evaluated the future growth potential of global organ-on-chip and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global organ-on-chip market.
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