Global Organ-On-Chip (OOC) Global Markets, Analysis, Forecasts, Opportunities Report 2021-2030 - Substantial Funding Of Public And Private Sources For OOC Start-Ups And Research Groups
Dublin, Nov. 15, 2021 (GLOBE NEWSWIRE) -- The "Organ-On-Chip (OOC) Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global OOC market reached a value of nearly $50.8 million in 2020, having increased at a compound annual growth rate (CAGR) of 59.5% since 2015.
The market is expected to grow from $50.8 million in 2020 to $177.8 million in 2025 at a rate of 28.5%. The market is then expected to grow at a CAGR of 14.6% from 2025 and reach $350.8 million in 2030.
Growth in the historic period resulted from increased demand for personalized medicine, the growing need to minimize financial losses due to late-stage drug failure, and substantial funding of public and private sources for OOC start-ups and research groups. Factors that negatively affected growth in the historic period were the high costs associated with OOCs, the limitations of polydimethylsiloxane (PDMS), the most commonly used substrate material for the fabrication of OOCs and lack of skilled resources for the development of the OOC technology.
Going forward, the adoption of OOC technology by major pharmaceutical companies such as Roche and AstraZeneca among many others, increasing drug repurposing approaches in the OOC industry, and rising healthcare expenditure will drive growth in the forecast period.
Factors that could hinder the growth of the OOC market in the future include compatibility problems that may occur due to the lack of standardization, OOCs are not high throughput to conduct multiple assays, cell survivability issues, the COVID-19 pandemic, and resistance in the adoption and regulation of new medical options can negatively impact the market growth.
The OOC market is segmented by organ type into multi-organs-on-chip, lung-on-chip, heart-on-chip, liver-on-chip, intestine-on-chip, kidney-on-chip, skin-on-chip, blood-brain-barrier-on-chip, and other organ models. The other organ model segment was the largest segment of the OOC market segment by organ, accounting for 14.6% of the total in 2020. Going forward, the heart-on-chip segment is expected to be the fastest-growing segment at a CAGR of 32.6% during 2020-2025.
The OOC market is also segmented by application into toxicology research, drug discovery, molecular biology, disease modelling, food safety, and other applications. The toxicology research segment was the largest segment of the OOC market by application, accounting for 30.4% of the total in 2020. Going forward, the drug discovery segment is expected to be the fastest-growing segment at a CAGR of 30.2% during 2020-2025.
The OOC market is also segmented by end-users into biopharmaceutical companies, academics, food & beverages and other commercial industries. The biopharmaceutical companies' segment was the largest segment of the OOC market by end-users, accounting for 54.4% of the total in 2020. Going forward, the biopharmaceutical companies is expected to be the fastest-growing segment at a CAGR of 29.5% during 2020-2025.
The OOC market is also segmented by product & services into device and testing services. The testing segment was the largest segment of the OOC market by product & services, accounting for 57.6% of the total in 2020. Going forward, the device segment is expected to be the fastest-growing segment at a CAGR of 30.7% during 2020-2025.
The OOC market is also segmented by type of material into polymer, PDMS, glass, and silicon. The polymer segment was the largest segment of OOC market by type, accounting for 57.1% of the total in 2020. Going forward, the silicon segment is expected to be the fastest growing segment at a CAGR of 89.9% during 2020-2025.
North America was the largest market for OOC, accounting for 55.7% of the global market in 2020. It was followed by Europe, Asia and then rest of the world. Going forward, Asia and Rest of the world will be the fastest growing regions in the OOC market, where growth will be at CAGRs of 34.1% and 33.0% respectively during 2020-2025. These will be followed by Europe and North America where the markets are expected to grow at CAGRs of 28.5% and 26.9% respectively.
The global OOC market is relatively concentrated with small number of players. The market is attractive to new market entrants who are able to see a clear route into the market which is not dominated by controlling companies; this is especially true of this market which is run by university off-spins and smaller research labs.
The top ten competitors in the market made up to 82.83% of the total market in 2020. Major players in the market include Emulate Inc., AxoSim Inc., Mimetas BV, TissUse GmbH, Nortis Inc., and Kirkstall.
To take advantage of the opportunities, the report recommends that OOC companies consider developing human-on-chip models that will reduce the need of animal testing, focus on R&D to develop disease models for liver, lungs, hearts, and other organs, focus on pricing based on economies, use Direct-To-Consumer (DTC) advertising, and collaborate with pharmaceutical companies.
Organ-On-Chip (OOC) Market Trends And Strategies
Big data For Organs-On-Chips
Developments In The Testing Of Human Organs-On-Chips
Organ-On-Chip Technology In Space
Automated Monitoring Of Organs-On-Chips
Artificial Intelligence Integrated With Organs-On-Chip
3D Printing Of Organs-On Chips
Investment In Integration Of Individual Organs-On-Chips Into Humans-On-Chips
Integration Of Various Technology On The Same Chip
Strong Focus On Development Of Custom Organs-On-Chips
Manufacturers Work On Disease Models To Expedite Drug Testing
Rise In The Collaborations Between Organs-On-Chips Manufacturers And Pharmaceutical Companies
Increase In Funding To Develop The Organ-On-Chip Platform
Increase In Collaborations And Strategic Partnerships
Market Drivers
Increasing Demand For Personalized Medicine
Improved Monitoring
Growing Need To Minimize Financial Losses Due To Late Stage Drug Failure
Substantial Funding Of Public And Private Sources For OOC Start-Ups And Research Groups
Increasing Drug Repurposing Approaches
Adoption Of OOC Technology By Major Pharmaceutical Companies
Early Detection Of Drug Toxicity And Recovery
Rising Healthcare Expenditure
Market Restraints
High-Costs Associated With OOCs
COVID-19 Pandemic
Compatibility Problems May Occur Due To The Lack Of Standardization
Limitations Of Polydimethylsiloxane (PDMS), The Most Commonly Used Substrate Material For The Fabrication Of OOCs
Resistance In The Adoption And Regulation Of New Medical Options
Need For Skilled Resources For The Development Of OOC Technology
OOCs Are Not High Throughput To Conduct Multiple Assays
Cell Survivability Issues Can Negatively Impact The Market Growth
Complication Or Increased Difficulty In Accessing Certain Organs
Companies Mentioned
Emulate Inc.
Mimetas BV
AxoSim Inc.
Nortis Inc.
TissUse GmbH
For more information about this report visit https://www.researchandmarkets.com/r/ng1ah6
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900