Growing Health Conscious Consumers Has Expected To Propel Organs-On-Chip Market

Organs-on-chips Market Size, Share, Trends, Growth, Analysis, Research

Global Organ-On-Chip Market: Key Highlights

  • According to the new market research report Organ-On-Chip Market by Organ Type (Liver, Heart, Lungs, Others), by Application (Toxicology Research, Drug Discovery, Others), by End-User (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, Cosmetics Industry, Others), by Region (North America, Asia Pacific, Europe, Middle East & Africa, South America) – Global Forecast (2020 to 2027)”, the global Organ-On-Chip market is estimated to reach USD 47.4 Billion by 2027 at a CAGR of around 34.6% during the review period.  
  • Demand for vast medication coupled with the vast application of organ-on-chip beyond the pharmaceutical industry is one of the major factors for boosting the growth of the market
  • The inclination of key players to launch new products has intended to expand their product portfolio will further increase the market growth 
  • Initiatives by pharmaceutical companies to invest and investigate drug repurposing utilizing organs-on-chips models has increased the product market growth
  • Issues related to the incorporation of organs-on-chips technologies into existing workflows, and complexity of organs-on-chips models are factors which may hinder the growth of the market

Organ-On-Chip Market

Global Organ-On-Chip Market: Key Market Dynamics

  • Increasing requirement of alternative for animal testing has expected to drive the organ-on-chip as it is being used for testing while developing new drugs and alternatives
  • Increasing health risks coupled with finding alternatives for existing medicines has expected to drive the market growth
  • The complexity associated while developing and operating organ-on-chip system may hinder the growth of product market

Global Organ-On-Chip Market: Regional Overview

  • North America:

North America is expected to dominate the organ-on-chip market during the forecasted period. This growth can be attributed to some of the factors such as the availability of a wide range of services offered by major players, and an increase in toxicological testing of chemicals on the different types of organ cells. Additionally, huge investment is being made by private and public institutions for their research. For instance, in February 2018, two pharmaceutical companies Roche and Takeda have partnered for investing Emulate’s organ chip for their research and development labs. 

  • Europe:

Europe is expected to have substantial growth in the organ-on-chip market. This growth can be attributed to the presence of pharmaceutical and biotechnology firms and research facilities. Moreover, the initiatives are taken by the government to ensure better health for its people. For instance, in November 2018, The new European Organ-on-chip Society (EUROoCS) was launched at the third International Organ-on-chip Symposium, in the Netherlands. This will encourage the development and coordination of Organ-on-chip research in Europe.

Global Organ-On-Chip Market: Key Players Overview

  • Emulate, Inc.:

Emulate, Inc. offers advance product innovation, design, and safety across a range of applications including drug development, agriculture, cosmetics, food, and chemical-based consumer products. the company engaged continuously expanding their organ-chips and disease models through collaborations with industry partners and internal R&D programs. In May 2018, Emulate, Inc has collaborated with pharma giant AstraZeneca’s Innovative Medicines and Early Development (IMED) Biotech Unit to embed its Organs-on-chips technology within the laboratories.

  • InSphero:

InSphero was incorporated in 2009 and has set the global gold standard for advanced, yet easy-to-use 3D tissue-based assay solutions for predictive compound classification. The company offers products for the pharmaceutical, biotech, cosmetic, and chemical sectors. In October 2018, InSphero AG has completed a collaborative project with the FHNW University in Switzerland to develop a 3D organ-on-a-chip assay for predicting metabolic stability of low clearance compounds in pharmaceutical drug development.

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Rep Id : HC 005

Published : 2020-01-13