Organ-On-Chip Market Size, Share, Growth, Trends, and Global Industry Outlook 2026
The global organ-on-chip market was estimated to be US$ 9.40 Mn in 2018 and is forecasted to grow at a stable CAGR around 16.6 % during the forecast period 2019 to 2026.
(EMAILWIRE.COM, October 16, 2019 ) Government funds and research grants, high focus on improved drug screening and growing applications of organ-on chip, and growing demand for kidney and lung organ on chip devices are some of the fundamental factors that are driving the organ-on-chip market growth across the globe.
Lung-on-chip occupied a share of approximately 15% of the total OOC market in 2017. It is the first developed prototype of organ model by Harvard University’s Wyss Institute. The lung-on-chip model basically mimics lung epithelium. It is one of the most commercially used organ model in the US.
North America is anticipated to witness the highest growth rate over the forecast period. The North America organ-on-chip market was estimated to be USD 3.93 Mn in 2018 and is estimated to grow at a CAGR of 18.5% over the forecast period. This can be attributed to the surge in adoption of organ-on-chips over 2D and 3D cell cultures, rising demand for OOCs in drug screening and the presence of key players.
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The presence of government support funds and research grants is one of the factors positively helping the global market growth and also expected to boost the demand for OOCs in coming years. For instance, in 2017, NCATS and its NIH collaborators funded an estimated $15 million in fiscal year 2017 to fund 13 awards for the ‘Tissue Chips for Disease Modeling and Efficacy Testing initiative’. High focus on improved drug screening and growing applications of organ-on-chip is anticipated to spur the industry growth during the forecast period. Real-time imaging, in-vitro analysis of biochemical, and genetic & metabolic activities of living cells in functional tissues are some of the applications of organ-on-chip devices in the industry. Moreover, growing demand for kidney and lung organ on chip devices will further positively impact the growth of global organ-on-chip market.
Recellularized solid organs can perform organ-specific functions for short span of time, which indicates the potential for clinical use of engineered solid organs in the future.
North America to Grow at Highest Rate in Organ-On-Chip Market
Geographically, the global organ-on-chip market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is forecasted to witness high growth and grow at highest CAGR during the forecast period owing to the surge in adoption of organ-on-chips over 2D and 3D cell cultures. Furthermore, rise in demand for OOCs in drug screening, especially in the U.S., and increase in number of key players of OOCs in North America are expected to fuel the growth of the market in the coming years. Europe is also expected to show substantial growth over the forecast period due to the presence of relatively high research funding and the presence of multiple key players. CN Bio, TissUse and Mimetas are few of the major players in the OOC market which are headquartered in Europe. In April 2018, EU has initiated the project ORCHID (Organ-on-Chip in Development), to accelerate the societal and economic impact of organ-on-chip technology through a coordinated action. The project is funded by Horizon2020 FET-Open programme. Thus, the high research funding is anticipated to fuel the market growth.
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Market Players
The organ-on-chip market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are CN Innovations Holdings Limited, Emulate, Inc., Axosim Technologies llc, CN Bio Innovations, Kirkstall Limited, Insphero AG, Mimetas B.V., Nortis Inc., TissUse GmbH, Organovo Holdings, Inc., Hesperos Inc. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the organ-on-chip market globally. For instance in June 2019, Hesperos, Inc., a Florida biotech firm has collaborated with Roche and the University of Central Florida (UCF), to innovative multi-organ in vitro (out of body) model systems which is able to realistically replicate in vivo (in body) responses to anticancer therapies for both the parent drugs and their metabolites to determine therapeutic index for both single drugs and drug-drug combinations.
Buy this premium research report@ https://www.datamintelligence.com/enquiry/organ-on-chip-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Lung-on-chip occupied a share of approximately 15% of the total OOC market in 2017. It is the first developed prototype of organ model by Harvard University’s Wyss Institute. The lung-on-chip model basically mimics lung epithelium. It is one of the most commercially used organ model in the US.
North America is anticipated to witness the highest growth rate over the forecast period. The North America organ-on-chip market was estimated to be USD 3.93 Mn in 2018 and is estimated to grow at a CAGR of 18.5% over the forecast period. This can be attributed to the surge in adoption of organ-on-chips over 2D and 3D cell cultures, rising demand for OOCs in drug screening and the presence of key players.
Browse full report@ https://www.datamintelligence.com/research-report/organ-on-chip-market
The presence of government support funds and research grants is one of the factors positively helping the global market growth and also expected to boost the demand for OOCs in coming years. For instance, in 2017, NCATS and its NIH collaborators funded an estimated $15 million in fiscal year 2017 to fund 13 awards for the ‘Tissue Chips for Disease Modeling and Efficacy Testing initiative’. High focus on improved drug screening and growing applications of organ-on-chip is anticipated to spur the industry growth during the forecast period. Real-time imaging, in-vitro analysis of biochemical, and genetic & metabolic activities of living cells in functional tissues are some of the applications of organ-on-chip devices in the industry. Moreover, growing demand for kidney and lung organ on chip devices will further positively impact the growth of global organ-on-chip market.
Recellularized solid organs can perform organ-specific functions for short span of time, which indicates the potential for clinical use of engineered solid organs in the future.
North America to Grow at Highest Rate in Organ-On-Chip Market
Geographically, the global organ-on-chip market has been divided into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. North America is forecasted to witness high growth and grow at highest CAGR during the forecast period owing to the surge in adoption of organ-on-chips over 2D and 3D cell cultures. Furthermore, rise in demand for OOCs in drug screening, especially in the U.S., and increase in number of key players of OOCs in North America are expected to fuel the growth of the market in the coming years. Europe is also expected to show substantial growth over the forecast period due to the presence of relatively high research funding and the presence of multiple key players. CN Bio, TissUse and Mimetas are few of the major players in the OOC market which are headquartered in Europe. In April 2018, EU has initiated the project ORCHID (Organ-on-Chip in Development), to accelerate the societal and economic impact of organ-on-chip technology through a coordinated action. The project is funded by Horizon2020 FET-Open programme. Thus, the high research funding is anticipated to fuel the market growth.
Free Download Sample Report Pages for Better Understanding@ https://www.datamintelligence.com/download-sample/organ-on-chip-market
Market Players
The organ-on-chip market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are CN Innovations Holdings Limited, Emulate, Inc., Axosim Technologies llc, CN Bio Innovations, Kirkstall Limited, Insphero AG, Mimetas B.V., Nortis Inc., TissUse GmbH, Organovo Holdings, Inc., Hesperos Inc. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations which are contributing to the growth of the organ-on-chip market globally. For instance in June 2019, Hesperos, Inc., a Florida biotech firm has collaborated with Roche and the University of Central Florida (UCF), to innovative multi-organ in vitro (out of body) model systems which is able to realistically replicate in vivo (in body) responses to anticancer therapies for both the parent drugs and their metabolites to determine therapeutic index for both single drugs and drug-drug combinations.
Buy this premium research report@ https://www.datamintelligence.com/enquiry/organ-on-chip-market
About Us
DataM Intelligence was incorporated in the early weeks of 2017 as a Market Research and Consulting firm with just two people on board. Within a span of less than a year we have secured more than 100 unique customers from established organizations all over the world.
For more information:
Sai Kiran
Sales Manager at Data M Intelligence
Email: info@datamintelligence.com
Tel: +1 877 441 4866
Website: www.datamintelligence.com
Contact Information:
DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
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DataM Intelligence
Sai Kiran
Tel: +1 877 441 4866
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results