Chicago, March 12, 2024 (GLOBE NEWSWIRE) -- Organ-on-Chip market in terms of revenue was estimated to be worth $123,285 thousand in 2024 and is poised to reach $631,073 thousand by 2029, growing at a CAGR of 38.6% from 2024 to 2029 according to a latest report published by MarketsandMarkets™. Growth in the organ-on-chip market is mainly driven by factors such as the growing need for personalized medicines, increasing ethical concerns regarding the use of animals for drug testing and an increase in government and private funding. However, lack of standardization and complexity of organ-on-chip models slow market growth to a certain extent.
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Organ-on-Chip Market Scope:
| Report Coverage | Details |
| Market Revenue in 2024 | $123,285 thousand |
| Estimated Value by 2029 | $631,073 thousand |
| Growth Rate | Poised to grow at a CAGR of 38.6% |
| Market Size Available for | 2022–2029 |
| Forecast Period | 2024–2029 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Organ type, Model type, Product and Service, Application, Purpose, End-user |
| Geographies Covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | Development of multi-organ-on-chip systems |
| Key Market Driver | Increasing demand for animal free testing and growing government and private institution funding |
The Organ-on-chip market is categorized into seven major segmented based organ type, model type, product and service, application, purpose, end-user and region.
Based on model type, the organ-on-chip market is segmented into organ-based model and disease-based model. The organ-based model segment accounted for the largest share of the organ-on-chip market in 2023. Factors such as the growing research initiatives to understand organ physiology using organ-based organ-on-chip models also contribute to the large share of this market.
Based on organ type, the organ-on-chip market is segmented into liver, kidney, intestine, lung, heart, and other organs. The liver-on-chip segment is expected to account for largest share in the organ-on-chip market during the forecast period. This can be attributed to the increasing focus of end users on testing toxicity of drugs using animal free techniques. Additionally, increasing pre-clinical research to evaluate hepatotoxicity also supports the market growth.
Based on product and service, the organ-on-chip market is segmented into products (instruments, consumables & accessories, software) and services (standard and custom). The service (standard and custom) segment accounted for the largest share of the organ-on-chip market in 2023. The high technical complexity of using the organ-on-chip technology and the growing demand for customized organ-on-chip platforms for specific studies are the major factors driving the growth of this segment.
Based on the by application, the organ-on-chip market is segmented into physiological model development, toxicology research, drug discovery, tissue regeneration & regenerative medicine and stem cell research. The toxicology research segment accounted for the largest share of the organ-on-chip market in 2023. The large market size of this segment is attributed to the increasing government initiatives to reduce animal testing for drug toxicity screening and growing adoption of organ-on-chips by industries such as pharmaceutical and biotechnology, cosmetics industry, food, and chemicals industries for drug and compound toxicity testing.
Based on purpose, the organ-on-chip market is segmented into therapeutic and research purposes. The therapeutic purpose segment accounted for the largest share of the organ-on-chip market in 2023. This large share can be attributed to factors such as the increase in drug discovery and associated testing by pharmaceutical and biotechnology companies, and a growing use of organ-on-chip technology for development of precision medicine and targeted therapeutics.
Based on end user, the organ-on-chip market is segmented into pharmaceuticals and biotechnology companies, cosmetics industry, academics and research institutes, and other end users. The pharmaceuticals and biotechnology companies segment accounted for the largest share of the organ-on-chip market in 2023. This large share can be attributed to factors such the increasing collaboration between pharmaceutical companies and organ-on-chip manufacturing companies. High cost of drug discovery and development using animal models and high rate of failure of potential drug candidates in initial clinical research stage also supports the growth of this market.
Based on region, North America is projected to register the highest growth rate during the forecast period. In the region, the US is the largest market. The North America market is characterized by the growing advancements in organ-on-chip technology development, owing to government funding and initiatives towards promotion of this technology as an alternative to animal testing and presence of advanced infrastructure, awareness and technical know-how for adoption of organ-on-chip products among other factors.
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Organ-on-Chip market major players covered in the report, such as:
- Emulate, Inc. (US)
- MIMETAS B.V. (Netherlands)
- CN Bio Innovations Ltd (UK)
- TissUse GmBH (Germany)
- Netri (France)
- Insphero AG (Switzerland)
- SynVivo, Inc. (US)
- Nortis, Inc. (US)
- AxoSim, Inc. (US)
- Dynamic42 GmBH (Germany)
- React4Life (Italy)
- Obatala Sciences (US)
- AlveoliX AG (Switzerland)
- BeOnChip S.L. (Spain)
- Initio Cell (Netherlands)
- Netri SAS (France)
- Hesperos, Inc. (US)
- Lena Biosciences (US)
- RevivoCell (UK)
- Altis Biosystems (US)
- Bi/ond (Netherlands)
- Biomimx S.R.L (Italy)
- Cherry Biotech (France)
- Fluigent (France)
- Elvesys (France)
- and Among Others
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All the market segments have been divided for Organ-on-chip market in the report. This report categorizes the Organ-on-chip Market into the following segments:
Organ-on-chip Market, by Model Type
- Organ-based model
- Disease-based model
Organ-on-chip Market, by Organ type
- Liver
- Intestine
- Kidney
- Lung
- Heart
- Other organ
Organ-on-chip Market by Product and Service
- Products
- Instruments
- Consumables & Accessories
- Software
- Services
- Custom Services
- Standard Services
Organ-on-chip Market, by Application
- Toxicology research
- Drug discovery
- Physiological model development
- Stem cell research
- Tissue regeneration and regenerative medicines
Organ-on-chip Market, by Purpose
- Therapeutic purpose
- Research purpose
Organ-on-chip Market, by End User
- Pharmaceutical and biotechnology companies
- Cosmetics industry
- Academic and research institutes
- Other end user
Organ-on-chip Market, by region
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia Pacific (APAC)
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific (RoAPAC)
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
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Key Market Stakeholders:
- Pharmaceutical companies
- Biotechnology companies
- Research institutions & academic centers
- Regulatory agencies
- Private & government-funding organizations
Report Objectives:
- To define, describe, and forecast the global organ-on-chip market by model type, organ type, by product and service, by application, by purpose, by end-user and region
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and contributions to the overall organ-on-chip market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To provide detailed information regarding the major factors influencing the market growth, such as drivers, restraints, opportunities, and challenges
- To forecast the size of the market segments with respect to six main regions: North America, Europe, the Asia Pacific, Latin America, the Middle East, and Africa
- To strategically analyze the market structure and profile the key players of the global organ-on-chip market and comprehensively analyze their core competencies2
- To track and analyze competitive developments such as expansions, acquisitions, partnerships, collaborations, agreements, and product launches in the organ-on-chip market
Related Reports:
In Vitro Toxicology Testing Market
Humanized Mouse and Rat Model Market
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