Syndicated report on Global Organ-on-Chip Market - size, share, and forecast (2022-2029) has been added to DataM Intelligence’s product offering.
2020-11-17
The global organ on chip market is valued at US$ 10.85 Mn in 2021 and is expected to grow at a CAGR of 31.2% over the forecast period to reach a US$ 31.85 Mn by 2029.
With the need for therapeutic treatment and diagnosis of chronic disease, the global Organ on Chip market has multiple advantages to edge on other treatment procedures
Additional factors backed-up for the growth for organ on chip market are governments funds and research grants, high focus on improved drug screening and growing applications of organ-on chip at developed nations such as North America, dominated by the U.S.
Drivers
Restraints
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By Model Type, Lung-on-chip segment accounted for the largest market share in 2019 of about 26.1% which is estimated to increase to 26.3% by 2029
The lung on chip is one of the most commercially used organ model in the US. It occupied a share of approximately 15% of the total OOC market in 2017. Lung-on-chip organ models are designed using the human lung and blood vessel cells. It acts as a multifunctional model that has the potential to emulate key structural, functional and mechanical properties of the human alveolar-capillary interface. Two of the key competitors offering lung on chip models include – Emulate and AlveoliX AG.
By End-User, pharmaceutical companies are dominating the organ-on-chip market globally with a value of about US$ 6.68 Mn in 2019 which is expected to grow at a CAGR of 17.9% during the forecast period (2021-2029).
The organ on chip market by research organizations is estimated to reach a market value of US$ 8.6 million by 2026 from an initial market value of US$ 2.7 million in 2018 with the market growing at a CAGR of 15.3% in the forecasted period.
The North America organ-on-chip market is valued at USD 3.93 Mn in 2018 and is estimated to grow at a CAGR of 18.5% over the forecast period to reach a USD 15.07 by 2029.
The growth of the North America organ on-chips market is driven by surge in adoption of organ-on-chips over 2D and 3D cell cultures. Furthermore, rise in demand for OOCs in drug screening, especially in the U.S., and increase in number of key players of OOCs in North America are expected to fuel the growth of the market in the coming years.
The U.S. holds 75.8% of market share in 2018, and is expected to increase by 81.2% by 2026, for global organ-on-chip market.
On April 11, 2017, FDA announced a multi-year research and development agreement with a company called Emulate Inc. to test the company’s “Organs-on-Chips” technology in laboratories at the agency’s Centre for Food Safety and Applied Nutrition.
The market players are adopting various key strategies such as collaborations, product launches, mergers & acquisitions, partnerships to expand their business contributing to the growth of the organ-on-chip market. For instance,
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Sales Manager at DataM Intelligence
Email: [email protected]
Tel: +1 877 441 4866
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