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Global Organ On Chip Market to Grow Immensely in the Forecast Period due to Its Demand in the Healthcare Sector for Drug Testing Purposes - Exclusive Report [180 pages] by Research Dive

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News provided by

Research Dive

14 Jul, 2021, 11:30 GMT

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The global organ on chip market is predicted to witness significant growth in the forecast period. The North America region is predicted to dominate the market. Various key players are working on initiatives to help the market grow further.

NEW YORK, July 14, 2021 /PRNewswire/ -- The latest report published by Research Dive states that the Global Organ On Chip Market is expected to witness a rise in revenue from $54,640.00 million in 2020 to over $6,97,654.30 million by 2028 at a steady CAGR of 37.60% from 2021-2028.

Request to Download Sample Report of Organ on Chip Market

Organ on Chip Market: Regional Analysis

The North American Region experienced a surge in the growth due to the increase in revenue from $26,937.50 million in 2020 to over $3,35,571.70 million by 2028. The region is known for the large number of manufactures who hold expertise in the production of organ on chips. These specialists have also been initiating further innovations within the region which is further predicted to contribute to the growth of the market.

Key Market Segments

  • By type, the heart-on-a-chin type sub-segment is expected to dominate the market with a significant revenue of $1,63,501,80 million by 2028. In the current times due to the bad lifestyle choices, people have been diagnosed with heart conditions. This increase in patients with cardiovascular diseases has been the primary reason for an increase in the heart on chips segment.
  • By application, the disease modelling sub-segment is set to gain the highest market share with a revenue collection of $1,36,766.40 million by 2028. People who have been detected with central nervous system illnesses along with issues related to protein-induces lung inflammation require the use of disease modelling. The multiple uses of the segment are expected to boost its growth while also adding to the growth of the market.

Get 10% OFF on Customization of Organ on Chip Market Report.

Market Dynamics

As per the report, the disease modelling sub-segment is expected to witness a rise in revenue from $9,960.20 million in 2020 to over $1,36,766.40 million by 2028. This form of technology is primarily implemented on people diagnosed with central nervous system illnesses, protein-induces lung inflammation, and other such diseases. These factors are predicted to help the market grow.

The healthcare sector has been experiencing substantial use of the organ on chip technology for various purposes. It is also a more ethical form of drug testing compared to the animal testing method. The technique is also used to examine the levels of toxicity in drugs while also ensuring they're approved on the bases of safe usage. These factors have led to the growth of the market.

But on the contrary the process of production is complicated and also lies on the more exorbitant side. These are the primary factors that are restraining the growth of the global organ on chip market.

To add further, this technological medium is used not on by the healthcare sector but within the food sector as well. It is utilized to ensure the safety levels of their products. These factors along with further advancement on the product front and multiple initiatives by key players have ensured opportunities of growth for the market.

Top 10 Key Players of Organ on Chip Market and Their New Developments, and Strategies

The report also provides a detailed list of some of the prominent pioneers of the market. Some of them are-

  1. Emulate, Inc
  2. Nortis
  3. MIMETAS
  4. Hesperos, Inc
  5. AxoSim Technologies
  6. Tara Biosystems, Inc
  7. CN Bio
  8. TissUse GmbH
  9. Kirkstall
  10. Insphero AG.

For instance, in January 2021, Emulate Inc, an expert in the commercialization of organ-on-chips launched a highly advanced organ on chip known as the Emulate Brain-Chip. This variant is known for being a cumulative of the neurovascular unit which also includes the blood-brain barrier. It has the ability to build more model cell-cell interactions which can help in cases of central nervous system disorders.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments. - Inquire and Get Quick Access to Top Companies Development Strategies Summary Report [80 pages]

COVID-19 and its Impact on the Global Organ On Chip Market

The pandemic played a major part in facilitating improvements and advancements within the healthcare sector. This also included developments in the global organ chip market which resulted in its growth over the period of the pandemic. Though the world went into a lockdown, it was necessary to propel it back to normalcy by producing drugs and vaccines faster. The on chip technology tests the vaccines for their levels of toxicity. The pandemic provided assisted in further helping the market grow due to its increased demand in the healthcare sector.

Get Access to comprehensive analysis of the Impact of COVID-19 on Organ on Chip Market

More about Organ on Chip:

Prominent Use of the Technology for Drug Testing and Quick Sample Review is Predicted to Assist in the Growth of the Global Organ On Chip Market

Organ on a Chip Technology to be Milestone in Novel Drug Discovery

Trending Reports in Diagnostics and Biotech:

  1. Drug Screening Laboratory Services Market is predicted to garner $10,944.1 million in the 2021-2028 timeframe, growing from $4,584.9 million in 2020 at a healthy CAGR of 12.8%. – Request for Sample Report
  2. Global Radiation Oncology Market is expected to reach $10,679.7 million by 2027, at a CAGR of 7.4%, increasing from $6,820.6 million in 2019. The global market size is dominated by North America region and it accounted for $2,981.3 million in 2019. Asia-Pacific market is anticipated to generate a revenue of $2,485.2 million by 2027. – Request for Sample Report
  3. The Activated Partial Thromboplastin Time Test Market forecast will be $601.2 million by 2026, at a 6.8% CAGR, and has been increasing from $353.0 million in 2018, according to study conducted by Research Dive. European market was valued for $ million in 2018 and is predicted to grow by $184.6 million by 2026. Asia-Pacific market was $81.2 million in 2018 and is predicted to grow by generating a revenue of $143.1 million by 2026. – Request for Sample Report
  4. North American DNA Sequencing Market accounted for $3256 million in 2018 and is expected to reach $9,154 million by 2025, registering a CAGR of 15.9% from 2019 to 2025. – Request for Sample Report

About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
Toll Free: 1-888-961-4454
E-mail: support@researchdive.com
Website: https://www.researchdive.com
Blog:  https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521

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