According to a market report, published by Sheer Analytics and Insights, the total global organ-on-chip market was valued at $69.2 Million in 2021 and it is expected to reach $1600 Million at a CAGR of 31.9% between 2022 and 2032. The organ-on-chip market is made up of companies (organizations, sole proprietors, and partnerships) that sell the organs-on-chips they produce for research in personalized medicine, toxicity testing, and drug development. Organs-on-chips (OOCs) are miniature plastic gadgets with biocompatible microfluidic chambers that house numerous living human cells in a 3D culture to mimic various physiological functions of body organs. A promising substitute for animal models is organs-on-chips that replicate the physiology of human organs at the cellular level. Utilizing pertinent innovative techniques from the fields of cell biology, micro-fabrication, microfluidics, material science, and nanotechnology, an OOC can be designed and developed. The precise chip design varies depending on the manufacturing process and the organ it mimics, but the fundamental structure typically doesn't change. The demand for lung-based organ culture and kidney applications, as well as an increase in the demand for drug screening, is what is driving the global market for organs on chips. These are fueling market expansion.
The tremendous expansion of the worldwide organ-on-chip market is primarily attributable to the rising need for alternatives to animal testing for drugs because they provide a possibly more moral approach to simulating disease. Additionally, it provides a deeper understanding of the toxicity and effectiveness of drugs. Additionally, organ-on-chip technology can lower the price of medicine development, which promotes its adoption. Additionally, a lot of governmental and non-governmental groups are stepping up to offer their solutions to assist society in recovering from the pandemic. For instance, the World Health Organization (WHO) announced in March 2020 that Emulate, a biotechnology company with headquarters in the United States, will provide lung-on-chip technology in clinical studies of hydroxychloroquine. The aforementioned factors indicate that the pandemic may result in significant market investment opportunities in the upcoming years. These primary factors are estimated to accelerate market growth during the forecast period.
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In the process of developing new drugs, OOCs are thought to be more relevant and accurate than cell cultures or animal models. These chips are expensive, though, and revamping processes for mass production is expensive as well. As a costly redesigning process could be a hardship for the relatively small enterprises engaged, high production costs are limiting the OOC market's expansion. The primary reasons generating growth prospects for market participants are the demand for customized medicine and the extensive uses of the organ-on-chip outside of the pharmaceutical sector. However, during the projection period, the market growth can be hampered by organ-on-chip models' complexity.
On 27th April, 2022, Organ-on-a-chip plug-and-play devices can be patient-specific. Engineered tissues are now an essential part of disease modeling and drug safety and efficacy testing in humans. How to replicate systemic diseases and body processes using many synthetic tissues that can communicate physiologically, as they do in the body, has proven to be a big difficulty for researchers.
On 19th July, 2022, to satisfy the growing demand for organ-on-chip research services, CN Bio launches a new lab. In response to a growing demand for services as the technology gains popularity inside drug discovery and development programs, the Cambridge-based company's laboratory space has doubled.
According to the study, key players dominating the global organ on chip market are AxoSim Inc (U.S), BICO Group (U.S), CN Bio Innovations (U.K), Elvesys (France), Hurel (U.S), Hesperos Inc (U.S), Emulate (U.S), Kirkstall (U.K), Mimetas (Netherlands), Nortis Inc (U.S), Organovo (U.S), TissUse GmbH (Germany), Tara Biosystems (U.S), among others.
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The Global Organ on Chip Market – by Product Type:
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