As per the recently published report by MarketsandMarkets™, The report "Organ-On-Chip Market by Organ Type (Liver, Kidney, Intestine, Lung, Heart), Products (Instruments, Consumable, Software), Services (Standard, Custom), Model Type, Application (Toxicology, Drug Discovery, Stem Cell), Purpose - Global Forecast to 2029", is expected reach USD 631,073 thousand by 2029 from USD 123,285 thousand in 2024, at a CAGR of 38.6% during the forecast period.
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PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=144117291
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- 396 Market Data Tables
- 38 Figures
- 353 Pages and in-depth TOC on " Organ-On-Chip
Market - Global Forecast to 2029”
Some of the prominent key players are:
- MIMETAS B.V. (Netherlands),
- TissUse GmBH (Germany),
- Netri (France),
- Emulate, Inc. (US),
- CN Bio Innovations Ltd (UK),
- Insphero AG (Switzerland),
- SynVivo, Inc. (US), and many more......
Mergers & acquisitions, investments & expansions, partnerships & collaborations, and new product developments are some of the major strategies adopted by these key players to enhance their positions in the Organ-On-Chip Market.
Market Segmentation: -
- Among the model type subsegments, the
market is segmented organ-based model and disease-based models. In 2023,
the disease-based model segment accounted for the highest growth rate in
the organ-on-chip market by model type. The high growth of this segment
can be attributed to the growing adoption of disease based models for
progressing studies associated with several conditions along with an
application of these models in personalized medicine development.
- Among the organ type subsegment, the
organ-on-chip market is segmented into liver, kidney, lung, heart,
intestine and other organs. In 2023, liver-on-chip segment accounted for
the fastest-growing market of the organ type segment of organ-on-chip
market. The high growth of this market segment can be attributed to the
growing focus on animal-free drug discovery and development methods and
increasing preclinical research to evaluate drug hepatotoxicity
- The European market is the second-largest
organ-on-chip market globally, mainly due to factors such as advancements
in biofabrication technology and use of artificial intelligence in drug
discovery and testing. The increased collaboration and partnership between
private companies and government institutes along with increased awareness
of the organ-on-chip technology are other important factors responsible
for the size of the market.
Recent Developments of Organ-on-Chip Industry:
- In September 2023, CN Bio Innovations Ltd
(UK) and LifeNet Health LifeSciences (US) partnered to provide validated
human cells for CN Bio's Organ-on-a-Chip systems.
- In June 2023 TissUse GmbH (Germany) and
PMI (US) entered a collaborative agreement to leverage PMI's InHALES
technology along with TissUse's Multi-Organ-Chip (MOC) platform.
Growth in the organ-on-chip market can mainly be attributed
to the increasing government initiatives to reduce drug testing on animal
models. Additionally, factors such as advancements in biofabrication
technologies and greater acceptance of organ-on-chip technology by pharma and
biotechnology companies also contributes to the growth of this market. However,
technical complexities of the organ-on-chip models along with low throughput of
current organ-on-chip technology pose challenge for the market growth to a
certain extent.
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