According to the latest report by IMARC Group, “Global Organ-on-chip Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global organ-on-chip market reached a value of US$ 34.52 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 201.13 Million by 2027, exhibiting a CAGR of 31.70% during 2022-2027.
Organ-on-chip (OOC) is a physiological organ biomimetic system made on a microfluid cell culture device utilized in effective drug discovery of precision medicine and a fast-track prospect of tissue engineering. It assists in creating a narrow channel for the blood and airflow in organs such as the gut, liver, lungs, and heart. It also permits the formation of a specific human model with functional responses at the organ or tissue level to avoid the usage of animal models. Additionally, it provides several advantages such as relevant mechanical cues, an organ level tissue-tissue interface, efficient fluid flow, and separate access to parenchymal and vascular compartments.
Organ-on-chip Market Trends and Drivers:
The surging demand for OOC in drug screening to diminish employee healthcare costs, enhance employee morale, productivity and performance, diminish employee healthcare costs and reduce downtime, accidents, turnover, absenteeism and theft is one of the primary factors driving the market. Along with this, the increasing need for lung and kidney-based organ culture devices is influencing the market growth.
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Additionally, the rising availability of laboratory engineered functional organs and the growing demand for a substitute for animal testing through research activities on organ-on-chip devices for new drug development are catalyzing the product demand.
Moreover, the accelerating adoption of organ-on-chips technology due to advancements in cell biology and micro fluids and increasing the usage of organ-on-chips in the healthcare industry for real-time imaging, in vitro analysis of biochemical, and genetic and metabolic activities of living cells in a functional tissue is supporting the market growth. Furthermore, the leading market players are extensively investing in research and development (R&D) activities to develop new solutions and treat pulmonary diseases, thus creating a positive market outlook.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Organ-on-chip Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Allevi Inc., Altis Biosystems, AxoSim, BiomimX S.r.l., Elveflow, Emulate Inc., InSphero, MIMETAS, Nortis Inc., TARA Biosystems Inc. and TissUse GmbH.
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The report has segmented the market on the basis of region, offering, type, application and end use.
Breakup by Offering:
• Products
• Services
Breakup by Type:
• Liver
• Heart
• Lung
• Kidney
• Others
Breakup by Application:
• Physiological Model Development
• Drug Discovery
• Toxicology Research
Breakup by End Use:
• Pharmaceutical and Biotechnology Companies
• Academic and Research Institutes
• Cosmetics Industry
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
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Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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