Dublin, June 18, 2021 (GLOBE NEWSWIRE) -- The "Organ-on-Chip Market 2020-2026" report has been added to ResearchAndMarkets.com's offering.
The global market for organ-on-chip is projected to have a CAGR of around 34.1% during the forecast period.
Organs-on-chips (OoCs), also known as microphysiological systems (MPS) or 'tissue chips' has the potential to be informative at multiple stages of the drug discovery and development process.
These innovative devices could provide insights into normal human organ function and disease pathophysiology, as well as more accurately predict the safety and efficacy of investigational drugs in humans.
The major driver for the market includes the development of human tissue chips for improvement in drug discovery and improvement in the prediction of organ toxicity liabilities. Apart from this, the product launches and advancement in technology, and initiatives to promote awareness among populations are the other factors that are driving the growth of the market.
For instance, in October 2020, BioVox started an awareness program for Dutch startup Bi/ond to raise awareness by promoting organ-on-chip initiatives. Through this awareness initiative, BioVocx aims to promote the adoption of Organ-on-Chip technology to improve in vitro research models and reduce animal testing.
However, the high cost of organ-on-chip models and technical difficulties linked with organ-on-chip technology acts as a barrier to the growth of the market. Whereas the demand for personalized cancer treatment and growing research and funding for organ-on-chip models will create an ample opportunity for the market during the forecast period.
COVID-19 Impact on Organ-on-Chip market: The organ-on-chip market is positively affected by the outbreak of the COVID-19 pandemic since December 2019.
The key industry application of organ-on-chip includes drug discovery, toxicology research, and others that rely on the region such as North America and Asia-Pacific. The outbreak of COVID-19 in the major economies of these regions such as the US and China, Japan has positively impacted the market growth.
To curb the spreading of COVID-19 among the world's population the scientists and researchers have been using organ-on-chips for drug discovery for the vaccination and to understand immune responses against SARS-CoV-2. In Oct 2020, The Food and Drug Administration had used organ-on-chip models to test mechanisms for preventing COVID-19 infections, and other processes.
The FDA used Emulate Inc's organ-on-chip models for this process under a cooperative research agreement. During the COVID-19 pandemic, the use of lung-on-chips was increased for the research and developments of drugs to recover the lung infection caused by the virus. These factors affected the growth of the market positively.
North America projected to Dominates the Organ-on-chip Market.
Geographically, North America is projected to dominate the organ-on-chip market and is estimated to maintain its dominance with a significant CAGR during the forecast period.
The factors propelling the growth of the organ-on-chip market in the region include rising investment by public and private sectors, increasing toxicological testing of chemicals on the different types of organ cells, and technological advancement and their rapid adoption. Besides, the presence of pharmaceutical companies and key market players, availability of advanced organ-on-chip models, government support in form of funding, and awareness initiatives to promote organ-on-chip adoption also fueling the market growth.
Market Players Outlook
The key players in the organ-on-chip market contributing significantly by providing different types of products and increasing their geographical presence across the globe.
The key players of the market are MIMETAS B.V., BiomimX SRL, InSphero AG, Emulate, Inc., Hurel Corp., CN Bio Innovations, Ascendance Biotechnology, Inc., Nortis Inc., TissUse GmbH, Organovo Holdings, Inc, TARA Biosystems, Inc., among others.
Key Topics Covered:
1. Report Summary
1.1. Research Methods and Tools
1.2. Market Breakdown
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
3. Competitive Landscape
3.1. Key Company Analysis
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid on key players
4. Market Determinants
5. Market Segmentation
5.1. Global Organ-On-Chip Market, By Organ Type
5.1.4. Others (liver-on-chip, gut-on-chip)
5.2. Global Organ-On-Chip Market, By Application
5.2.1. Drug Discovery
5.2.2. Toxicology Research
5.2.3. Others (Cosmetic Industry)
5.3. Global Organ-On-Chip Market, By End-User
5.3.1. Pharmaceutical and Biotechnology Industry
5.3.2. Academic and Research Institutes
6. Regional Analysis
7. Company Profiles
7.1. 4D cell
7.2. AxoSim, Inc.
7.3. BiomimX SRL
7.4. CN Bio Innovations, Ltd.
7.5. Cherry Biotech
7.6. Elvesys SAS
7.7. Emulate, Inc.
7.8. F. Hoffmann-La Roche Ltd
7.9. Hesperos, Inc.
7.10. Hrel Corp.
7.11. InSphero AG
7.12. Kirkstall, Ltd.
7.13. Micronit Microfluidics B.V.
7.14. MIMETAS B.V.
7.15. Nortis Inc.
7.16. Organovo Holdings, Inc.
7.17. SynVivo, Inc.
7.18. TARA Biosystems, Inc.
7.19. TissUse GmbH
7.20. uFluidix Inc.
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