The growth of this market is mainly driven by the growing focus on developing alternatives for animal testing models, significant increase in research funding and venture capital investments for the development of organs-on-chips, technological advancements and products launches, growing number of partnerships and collaborations between pharmaceutical companies and organs-on-chips manufacturers, and growing need for early detection of drug toxicity to minimize financial losses due to late stage drug failure.
The Organs-on-chips Market is expected to
reach USD 45.6 million by 2022 from USD 9.6 million in 2017, at a CAGR of
36.6%.
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Based on type, the organs-on-chips market
is segmented into liver, lung, heart, kidney, and other organs-on-chips. In
2017, the accessories segment is expected to account for the largest share of
the organs-on-chips market. The large share of this segment can be attributed
to the simplicity of this model and the ability of on-chip hepatic tissues to
maintain metabolic activity and phenotype similar to the in vivo environment.
Based on application, the organs-on-chips
market is segmented into physiological model development, drug discovery, and
toxicology research. The drug discovery segment is expected to register the
highest CAGR during the forecast period. The increasing focus on drug discovery,
rising need for more predictive in vitro tools for drug development among
pharmaceutical companies, and growing preference for alternatives to
conventional cell culture and animal models are some of the factors that are
driving the growth of the drug discovery segment.
In 2017, North America is expected to
dominate the market followed by Europe. The large share of this geographical
segment is attributed to factors such as availability of new and advanced
organs-on-chips in the market, and favorable government initiatives in terms of
funding and programs for basic drug development and research, and the presence
of key pharmaceutical companies. These are regions where the majority of drug
development activity is concentrated.
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The organs-on-chips market is emerging and
high growth potential market with the presence of several small players and
startups firms. Some of the players in the organs-on-chips market include
Emulate (US), CN Bio (UK), TissUse (Germany), Mimetas (Netherlands), InSphero
(Switzerland), Ascendance Bio (US), Kirkstall (UK), HUREL (HUREL) (US), SynVivo
(US), AxoSim (US), and Nortis (US).
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