The organs on chip market are projected to grow at a CAGR of 33.98% during the forecast period of 2018 to 2024. An organ-on-a-chip (OOC) is a functional microchip housing living cells that have a possibility of simulating the activities, mechanics and physiological response of entire organs and organ systems, a type of artificial organ. Each organ-on-chip is about the size of a coin and contains microfluidic channels which are lined by living human cells and interfaced with a human artificial vasculature. The organs-on-chip market has been on a steady growth pace because of the rising need for effective drug discovery and development, increasing demand for alternatives for animal models in research, increasing drug repurposing approaches and government regulations and grants for the research. The increasing research and funding for the development of organ on chip model, along with the demand for personalized medication and vast application of the chip such as disease modeling, patient stratification, and phenotypic screening has also led to the growth of the market.
However, the high cost of the chip and complexities in mimicking in the human organs pose a challenge towards the growth of the market to continue. Therefore, the key players and researchers are doing agreements and joint ventures and increasing the fund for doing research and developing innovative and new products.
The “Organs on Chip Market – Forecasts from 2019 to 2024” is an exhaustive study of this niche technology market which aims to present the key market trends through various chapters focusing on different aspects of the market. The study provides a detailed market overview through the market dynamics sections which detail key market, drivers, restraints, and opportunities in the current market. The report analyzes key opportunity regional markets, and the current technology penetration through lifecycle analysis. The report also analyzes the market through comprehensive market segmentation by type, application, offering, end-user, and geography.
The organs on chip market have been segmented based on type, application, offering, end-user, and geography. Based on type the market has been segmented into Liver, Kidney, Lung, Heart, and others. By application, the market has been classified into Drug Discovery, Toxicity Testing, and Physiological Model. By offering, the market has been classified as Product and Service. By end-user, the market is classified as Academic, Research Institute, and Pharmaceutical Companies.
Regional analysis has been provided with detailed analysis and forecast for the period 2018 to 2024. The global market has been broken down into North America, South America, Europe, Middle East and Africa, and the Asia Pacific regions. The report also analyzes 12 countries across these regions with thorough analysis and forecast along with prevailing market trends and opportunities which each of these countries present for the manufacturers.
Major players in the organ on chip market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last year. The company profiles section details the business overview, financial performance for the past three years, key products and services being offered along with the recent developments of these important players in the organs on chip market.