Significant increase in research funding and venture capital investments for the development of Organs-on-Chips, as well as a growing focus on developing alternatives for animal testing models, will foster Organs-On-Chips Market growth.
JERSEY CITY, N.J., July 5, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Organs-On-Chips Market" By End-User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes), By Application (Physiological Model Development, Drug Discovery, and Toxicology Research), By Offering (Products and Services), By Type (Liver, Heart, Lung, Kidney), and By Geography. According to Verified Market Research, the Organs-On-Chips Market size was valued at USD 21.36 Million in 2020 and is projected to reach USD 300.89 Million by 2028, growing at a CAGR of 36.90% from 2021 to 2028.
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Browse in-depth TOC on "Organs-On-Chips Market"
202 - Pages
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Global Organs-On-Chips Market Overview
The surge in applications of OOC devices in the healthcare sector, increase in demand for organ-on-chip in drug screening, rise in demand for OOCs for lung- & kidney-based organ culture, high cost of OOC devices, nascent stage of R&D about OOCs, and increase in research activities on OOC devices are the significant factors that impact the global organ-on-chip market growth. These factors are expected to either propel or hinder the organ-on-chip market.
The surge in demand for organ-on-chip devices in the healthcare industry is expected to boost the growth of the global market. Organ-on-chip devices are appropriate in real-time imaging, an in-vitro examination of biochemical, and genetic & metabolic actions of existing cells in a functional tissue, which significantly drives their adoption. Drug screening is a cost-effective method used for rapidly reviewing samples. Scientists and researchers apply organ-on-chip culture devices to observe the consequences of drugs in the body. Furthermore, drug toxicity or drug effectiveness in various organs of the body is checked using this technique, wich boosts the market growth.
- On July 2020, InSphero AG and ETH Bio Engineering Laboratory announced the license agreement for InSphero's Akura Flow organ-on-a-chip platform.
- On October 2020, BioVox raised awareness through an initiative to promote the organ-on-chip technology for improvisation in vitro research models and for reducing animal testing.
The major players in the market are CN Bio Tissues, Mimetas Insphero, Ascendance Bio, Kirkstall , Hurel , Synvivo , Axosim and Nortis.
Verified Market Research has segmented the Global Organs-On-Chips Market On the basis of End-User, Application, Offering, Type, and Geography.
- Organs-On-Chips Market, By End User
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Cosmetics Industry
- Organs-On-Chips Market, By Application
- Physiological Model Development
- Drug Discovery
- Toxicology Research
- Organs-On-Chips Market, By Offerings
- Organs-On-Chips Market, By Type
- Organs-On-Chips Market, by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- Latin America
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