BANGALORE, India, Jan. 11, 2021
BANGALORE, India, Jan. 11, 2021 /PRNewswire/ -- The Organ On Chip Market is Segmented by Type (Liver-on-a-chip, Kidney-on-a-chip, Lung-on-a-chip, Heart-on-a-chip, Intestine-on-a-chip, Brain-on-a-chip), by Application (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Cosmetics Industry), by Regions & Key players Regional Growth: Global Opportunity Analysis and Industry Forecast, 2021–2026. This report is published on Valuates Reports in the Biotechnology Category.
The global Organ-on-a-Chip Market size is projected to reach USD 303.6 Million by 2026, from USD 41 Million in 2020, at a CAGR of 39.9% during 2021-2026.
Major factors driving the growth of organ on chip market size are, Surge in the application of growing emphasis on developing alternatives for animal testing models, a substantial increase in research funding for organ-on-chip growth, increasing number of partnerships and collaborations between pharmaceutical companies and organ-on-chip manufacturers, and a growing need for early drug detection.
The report provides an in-depth market analysis of organs on chip market size and outlines current trends, key driving factors, and potential areas for product investments.sa
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TRENDS INFLUENCING THE GROWTH OF ORGAN ON CHIP MARKET SIZE
The advantages of organ on chip over cell culture, animal models, and human clinical trials have attracted the interest of the medical and pharmaceutical communities for the development of targeted therapies. Organ on chip is now being explored worldwide as methods for developing disease models and accurately predicting medication efficacy and toxicity. This feature is expected to drive the growth of organs on the chip market size.
The increasing instances of Cardiovascular diseases (CVD) are expected to drive the growth of organ-on-a-chip market size. Organ-on-a-chip technologies have been designed to mimic the dynamic conditions of the cardiovascular system, especially the heart and the general vasculature. These systems pay special attention to the mimicking of structural organization, shear stress, transmural strain, mechanical stretching, and electrical stimulation. Heart-and vasculature-on-a-chip platforms have been successfully generated in the past to research a variety of physiological phenomena, model diseases, and test the effects of drugs.
Furthermore, the substantial increase in demand for early detection of drug toxicity is expected to fuel the organ-on-chip market size. The Organ-on-a-Chip market has attracted a range of players from various horizons and is constantly expanding due to rapid technological developments and the clear multidisciplinary attractiveness of the field.
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ORGAN ON CHIP MARKET SHARE ANALYSIS
North America is expected to hold the largest organ-on-chip market share during the forecast period. This dominance of North America is attributed to factors such as the availability of new and advanced organs-on-chips models in the market, favorable government initiatives in terms of funding and programs for basic drug development and research, and the presence of key pharmaceutical companies.
Asia-Pacific is expected to witness the highest growth rate during the forecast period due to lucrative opportunities offered by countries such as China, India, and Japan. Furthermore, the increase in disposable income of the population is expected to increase the adoption of Organ-on-a-Chip technology in the region. The government funding for regenerative medicines in research institutions, along with a rising number of cell-based clinical trials and investment in R&D activities, are expected to increase the growth of the Organ-on-a-Chip market size in the Asia-Pacific region.
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Middle East & Africa
ORGAN ON CHIP MARKET SEGMENTS
Major producers in the industry include Emulate, TissUes and Hesperos, which accounted for 12.71%, 10.05% and 8.11% of revenue, respectively.
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