Organs On Chips Market

Market Synopsis:

Global Organs on Chips Market is valued at USD 28.1 Million in 2021 and is projected to attain a value of USD 125.7 Million by 2028 at a CAGR of 28.1% during the forecast period, 2022–2028. The growing focus on developing alternatives to animal testing models, a significant increase in research funding and venture capital investments for the development of Organs on Chips, technological advancements and new product launches, a growing number of partnerships and collaborations between pharmaceutical companies and organs-on-chips manufacturers, and a growing need for early detection of drug toxicity to minimize financial costs are all driving the growth of Organs on Chips Market.

In the face of the COVID-19 pandemic, the scientific community and the biopharmaceutical sector have mobilised at breakneck speed. As a result, Organs on Chips has been established as one of the most promising and go-to technologies in the creation of vaccines and medications for the treatment of infection that are currently undergoing clinical trials. The imitate lung-chip, for example, was utilised to provide preclinical insights into the efficacy of hydroxychloroquine for COVID-19 in March 2020 as part of the World Health Organization's (WHO) Research and Development Blueprint response to the COVID-19 outbreak.

Advancements in Technology

Factors driving the Organs on Chips Market include the demand for alternatives to animal testing, the need for early identification of drug toxicity, as well as new product releases and technological breakthroughs. For example, in December 2020, CN Bio and the University of Melbourne worked to enhance respiratory complications therapy using lung-on-a-chip technology in patients who had recovered from COVID-19. Furthermore, in October 2020, BioVox launched an initiative to promote Organs on Chips technology as a means of improving in vitro research models and eliminating animal testing.

The demand for customised medicine and the wide range of applications for Organs on Chips technology outside of the pharmaceutical industry are two important reasons driving market expansion. The intricacy of Organs on Chips models, on the other hand, may stifle market growth over the foreseeable period.

Market Segmentation:

Global Organs on Chips Market is segmented by Organ Type (Liver, Heart, Lung, and Other Organ Types). Based on Application (Drug Discovery, Toxicology Research, and Other Applications), End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Other End Users). Based on Region, the Market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Lung Application is Expected to Grow Fastest During the Forecast Period

On a microchip, lung-on-chip technology is a complicated three-dimensional replica of a living, breathing human lung. This technology, which is made up of human lung and blood vessel cells, can predict nanoparticle absorption and simulate the inflammatory response induced by microbial infections. The device can also be used to assess environmental contaminants, aerosolized treatments absorption, and the safety and efficacy of novel medications. It is anticipated that it will become a viable alternative to animal experimentation. Lung-on-chip also offers an unique in vitro approach to drug screening by imitating the intricate mechanical and biochemical behaviours of a human lung, thanks to the combination of micro manufacturing techniques and contemporary tissue engineering.

North America Is Expected To Dominate the Market During The Forecast Period

North America is predicted to account for the greatest share of the market in 2020 and to grow at the fastest CAGR, followed by Europe. The availability of new and advanced Organs on Chips models in the market, favourable government initiatives in terms of funding and programmes for basic drug development and research, and the presence of key pharmaceutical companies are all factors that contribute to this market's large share and rapid growth.

Key Players:

Some key players operating in the market are Mimetas (Netherlands), Emulate (US), InSphero (Switzerland), Ascendance Bio (US), CN Bio (UK), TissUse (Germany), Kirkstall (UK), HUREL (HUREL) (US), SynVivo (US), AxoSim (US), and Nortis (US).

Organs on Chips Market is segmented as follows:

Organs on Chips Market is tabulated as follows: