Organ on Chip Market 2021 Industry Analysis, Key Drivers, Business Strategy, Opportunities and Forecast to 2028

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Shibuya Data Count

Jan 05, 2022, 01:49 EST

Shibuya-ku, Tokyo, Japan, Japan, Jan 05, 2022, 01:49 /Comserve / -- According to Research Dive analysis, the global organ on chip market is estimated to generate a revenue of $6,97,654.30 thousand by 2028 increasing from $54,640.00 thousand in 2020, at a healthy CAGR of 37.60%.

According to Research Dive analysis, the global organ on chip market is estimated to generate a revenue of $6,97,654.30 thousand by 2028 increasing from $54,640.00 thousand in 2020, at a healthy CAGR of 37.60%.

Impact Analysis of COVID-19 on the Global Organ on Chip Market:

The global organ on chip market experienced a high growth rate during the COVID-19 pandemic. Due to strict lockdown rules by government bodies of countries across the globe, people were totally dependent upon the researchers for developing drugs and vaccines for treatment of corona virus. Moreover, there were many researches ongoing for using organ on chip technology to fight against COVID-19 pandemic. For instance, on May 3, 2021, Wyss Institute announced that they are working on organ on chip technology for monitoring the effect of amodiaquine (antimalarial drug) in SARS-CoV-2, the virus that causes COVID-19. Therefore demand for organ on chip has increased during the pandemic.

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Organ on Chip Market Analysis:

The global organ on chip market experienced an appreciable growth due to the penetration of human organs-on-chips (OOCs); they are compressed version of kidneys, heart, lungs, intestine, liver, and other organs that is implant in a chip. This technology helps in monitoring the effects of any drugs in less time without animal testing. Such type of factors may lead to a surge in the demand for organ on chip and market growth during the analysis frame.

The cost of organ on chips and their redesigning steps for mass production are high. Therefore, this will be one of the restricting factors which may create a negative impact on the market during the forecast period.

The organ on chip industry is growing rapidly owing to increasing advancement in medical science fields and in healthcare industry. Moreover, OOC companies are working on organ on chips technology that will offer real time drug monitoring. Thus, key players operating in organ on chip market are opting for various product innovations to provide best organ on chip systems to hold a leading position in the market. For example CN Bio, a privately held biotechnology company offers different types of organ on chip systems according to use. This type of technological advancements may increase the growth of the sector during the forecast period.

Based on type, the global market for organ on chip platform is divided into liver-on-a-chip, kidney-on-a-chip, lung-on-a-chip, heart-on-a-chip and others. The heart-on-a-chip type sub-segment is predicted to have a dominating market share in the global market and it is anticipated to generate a revenue of $1,63,501.80 thousand by 2028.

Based on application type, the market is classified into drug development, disease modelling, molecular biology and OOC and R & D. The drug development sub-segment is predicted to show the dominant market and it garnered $37.10% thousand in 2028 and is projected to grow exponentially.

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Based on geographical scope, the market was investigated across North America, Europe, Asia-Pacific, and LAMEA. The Europe organ on chip market is anticipated to rise at a growth rate of 38.70% by 2027 from the revenue generated in 2020.

The companies involved in the global market are Emulate, Inc., Tara Biosystems, Inc., Nortis, CN Bio, MIMETAS, TissUse GmbH, Hesperos, Inc., Kirkstall, AxoSim Technologies LLC and Insphero AG.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Lauren Brown

Shibuya Data Count
Tel: + 81 50 50509159

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