The global organs-on-chips market size is expected to reach USD 294.75 million by 2028 at a CAGR of 36.5% according to the latest report by Reports and Data. The market revenue growth is driven by various factors including increasing requirement for alternatives for animal testing and rising need for early detection of drug toxicity.
An organ-on-a-chip is a microfluidic cell culture device containing continuously perfused chambers. This chip develops a thin and narrow channel, passaging the blood and airflow in several organs, such as heart, lung, liver, and gut. Moreover, these devices are able to produce multiple levels of tissue and organ functionalities, which are not feasible using conventional 3D and 2D culture systems. Therefore, organs-on-chips offer a broad array of applications including patient stratification, disease modeling, and phenotypic screening, which in turn are promoting the revenue growth of the market.
Various advantages of organs-on-chips over cell culture, animal models, and human clinical trials have captured the attention of pharmaceutical and medical communities concentrating on developing various targeted therapies. It is being explored globally as the most effective tool for developing different disease models along with accurately predicting drug efficacies as well as toxicities. Additionally, rising adoption from numerous companies and universities that have been seeking advanced models for drug development is augmenting demand for organs-on-chips devices, thus, accelerating the revenue growth of the market.
Furthermore, increasing demand for personalized medication and the huge applications of organs-on-chips other than pharmaceutical industry are crucial factors creatinggrowth opportunities for market players. However, rising complexity of organ-on-chip models is predicted to hinder the market revenue growth to a certain extent.
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The report provides a panoramic view of the market and insights that will help formulate better business decisions. In addition to that, the study helps well-established companies and players gain a deeper understanding of the market and make informed decisions. The report also discusses in detail about the key factors influencing the market growth.
Key companies operating in the market include:
Emulate (U.S.), Mimetas (Netherlands), InSphero (Switzerland), CN Bio (UK), AxoSim (U.S.), Ascendance Bio (U.S.), TissUse (Germany), HUREL (HUREL) (U.S.), Kirkstall (UK), SynVivo (U.S.), and Nortis (U.S.).
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Organs-on-Chips market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Organs-on-Chips industry, the market is segmented into:
Type Outlook (Revenue, USD Million, 2018 – 2028)
Offering Outlook (Revenue, USD Million, 2018 – 2028)
Application Outlook (Revenue, USD Million, 2018 – 2028)
End User Outlook (Revenue, USD Million, 2018 – 2028)
The regional analysis covers:
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