DUBLIN, March 15, 2024 /PRNewswire/ — The “Global Organ-On-Chip Market by Organ Type (Liver, Kidney, Intestine, Lung, Heart), Products (Instruments, Consumable, Software), Services (Standard, Custom), Model Type, Application (Toxicology, Drug Discovery, Stem Cell), Purpose – Forecast to 2029” report has been added to ResearchAndMarkets.com’s offering.
The organ-on-chip market is expected to reach USD 631,073 thousand by 2029 from USD 123,285 thousand in 2024, at a CAGR of 38.6%
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the organ-on-chip market and its segments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, trends, opportunities, and challenges.
The key factors driving the growth of the organ-on-chip market include growing awareness towards the development of alternative methods for animal model-based drug testing and increasing funding from government and private institutions for innovating in the organ-on-chip market. Developments in the field of bio fabrication and microfluidics also contribute to the growth of this market.
North America: accounted for the largest share of the organ-on-chip market
North America accounted for the largest share of the organ-on-chip market. The large share of the North America region can be attributed to increased government and private institution funding and increasing initiatives to grow awareness and promote adoption of this technology as a substitute to animal testing.
Besides, the North America region has a well-established healthcare infrastructure which further supports the growth of this market. Also, presence of several market players in the region is another key factor supporting market growth. Some examples of these players include Emulate, Inc. (US), Obatala Sciences (US), SynVivo, Inc. (US), Nortis, Inc. (US) Axosim (US), among others.
Europe: The second-largest region in the organ-on-chip market
The Europe organ-on-chip market is the second largest market for organ-on-chip. This is attributed to one of the major factors including the growing initiatives for advancements of organ-on-chip technologies, increasing use of advanced technologies such as artificial intelligence for drug development and testing. Collaboration and support offered by the government bodies and private institutions also aid in the growth of this market.
By model type, organ-based model segment accounted for the largest share of the organ-on-chip market
Based on model type, the organ-on-chip market is categorized into organ-based model and disease-based models. In 2023, organ-based model accounted for the largest share of the market owing to factors such as greater accuracy offered by organ-based organ-on-chip models along with the growing ethical concerns regarding the use of animals for drug testing among other factors.
By organ type, the liver-on-chip segment accounted for the largest share in the organ-on-chip market
Based on organ type, the organ-on-chip market is segmented into liver, kidney, lung, heart, intestine and other organs. In 2023, the liver-on-chip segment accounted for a largest share of the organ-on-chip market. Growth in this market segment can be attributed to the significance of liver in drug metabolism and focus of pharmaceutical and biotechnology companies on developing new drugs which are tested for human hepatocytic toxicity on liver-on-chip models.
Premium Insights
- Rising Adoption of Organs-On-Chips by Pharmaceutical & Biotechnology Companies to Drive Market
- Organ-based Models to Dominate North American Organs-On-Chips Market in 2023
- Toxicology Research to Dominate Market by 2029
- Pharmaceutical & Biopharmaceutical Companies Accounted for Largest Market Share in 2023
- Germany to Register Highest Growth Rate in Organs-On-Chips Market from 2024 to 2029
Case Study Analysis
- Queen Mary University London (Qmul) Collaborated with Emulate to Establish Queen Mary+Emulate Organs-On-Chips Centre
Market Dynamics
Drivers
- Increasing Demand for Animal-Free Testing
- Ethical Concerns Regarding Use of Animal Models in Drug Development
- Growing Drug Discovery & Development Initiatives
- Development of Personalized Medicines
- Advancements in Microfluidics and Bioengineering
- Increased Government and Private Funding
- Greater Adoption of Ooc Technology by Pharma & Biotech Companies
Restraints
- Limitation of Use Restricted to Preclinical Trials
- Limited Scalability and Throughput
Opportunities
- Development of Human-On-A-Chip Models
- Increasing Applications in Diverse Industries
- Developing Hybrid Business Model Providing Both Products and Services
Challenges
- Lack of Standardization
- Mimicking Complex Tissues and Organs
Company Profiles
- Emulate, Inc. (US)
- MIMETAS B.V. (Netherlands)
- TissUse GmBH (Germany)
- Insphero (Switzerland)
- CN Bio Innovations Ltd (UK)
- Dynamic42 GmBH (Germany)
- React4Life (Italy)
- Biomimx S.R.L (Italy)
- Netri (France)
- SynVivo, Inc. (US)
- Nortis, Inc. (US)
- Axosim (US)
- Obatala Sciences (US)
- AlveoliX AG (Switzerland)
- Beonchip (Spain)
- Initio Cell (Netherlands)
- Netri SAS (France)
- Hesperos, Inc. (US)
- Lena Biosciences (US)
- RevivoCell (UK)
- Altis Biosystems (US)
- Bi/ond (Netherlands)
- Cherry Biotech (France)
- Fluigent (France)
- Elvesys (France)
For more information about this report visit https://www.researchandmarkets.com/r/ucsdwl
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