The Organs on Chips Market is expected to reach USD 125.7 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 28.1% from 2022 to 2028. Factors such as increasing funding for venture capital & research activities in the development of organs-on-chips products, increasing technological advancement, increasing focus on the alternative development for animal testing models, new product launch, and rising need for early detection of drug toxicity to minimize financial losses are accelerated to witness the fastest growth of Organs on Chips Market in the coming years.
- The lung organ type segment is attributed to the significant growth of the market during the forecast period. This growth is mainly influenced because of the availability of three-dimensional models for living and the use of microchips to help in breathing.
- The drug discovery segment is expected to account for the highest share of the market during the forecast period, owing to the technological advancement for drug discovery and increasing research activities in drug detection technique.
- Asia Pacific is incorporated the fastest growth of the market in 2021. Factors such as, favorable government initiatives in terms of funding, presence of key pharmaceutical companies, and use of advanced organs-on-chips models in the market are the factors that propel the growth of the Organs on Chips Market in this region.
The major players involved in the development of Organs on Chips Market are - AxoSim Inc., BiomimX SRL, Elveflow, Emulate Inc., Hurel Corporation, InSphero AG, MIMETAS BV, Nortis Inc., Tara Biosystems Inc., and TissUse GmbH.
Increased availability of on-chip hepatic tissues to maintain metabolic activity and simplicity of this model are propelling the growth of the Organs on Chips Market. Organs on-chip is a microfluidic device linked with living human cells for disease modeling, personalized medicine, and drug development purpose. These benefits are responsible for the fastest growth of the market in the upcoming years. In addition, multiple players are majorly focusing on the development of an organ-on-a-chip platform technique. For instance, Javelin Biotech, a drug discovery, and development company, and Pfizer, an American multinational pharmaceutical and biotechnology corporation, provided a three-year development of a platform to evaluate absorption, distribution, metabolism, and excretion (ADME) properties of small molecules on an organ-on-a-chip platform.
The COVID-19 outbreak has affected various industries worldwide. Similarly, people with lung-related issues are majorly affected by this pandemic. For instance, World Health Organization provided the Global Tuberculosis Report 2020. According to this report, over 10.0 million new cases of TB disease are observed in 2019 and around 1.2 million deaths have been occurred due to TB, globally. With this regard, various research and development activities have been carried out for treating an infection or lung-related diseases. Recently, researchers in Wyss Institute, a cross-disciplinary research institute at Harvard University, announced the use of the human airway organ chips in the COVID-19 model and it can also be used to boost the immune response toward the same.
- September 2020: CN Bio and Imperial College London collaborated to harness CN Bio’s liver-on-chip technology to advance the understanding of the underlying mechanisms of alcoholic hepatitis and uncover novel targets for drug discovery and development.
- August 2020: InSphero AG and ETH Bio Engineering Laboratory announced the license agreement for InSphero’s Akura Flow organ-on-a-chip platform.