Dublin, June 13, 2024 (GLOBE NEWSWIRE) -- The "Organ-on-Chip Market - A Global and Regional Analysis: Focus on Offering, Organ Type, Application, End User, and Country - Analysis and Forecast, 2024-2033" report has been added to ResearchAndMarkets.com's offering.
The global organ-on-chip market is projected to reach $3,596.3 million by 2033 from $109.9 million in 2023, growing at a CAGR of 42.09% during the forecast period 2024-2033
The base year considered for the calculation of the market size is 2023. A historical year analysis has been done for the period FY2021-FY2022. The market size has been estimated for FY2023 and projected for the period FY2024-FY2033. Revenues of the companies have been referenced from their annual reports for FY2020-FY2023.
The key factors driving the growth of the global organ-on-chip market include continuous technological advancements in the fields of drug discovery, toxicity testing, and microfluidics. The combination of tissue engineering, microfluidics, and cell biology has contributed to the development of a micro-engineered organ-on-chip (OOC) platform. Huge R&D investments and collaboration with government agencies and OOC players are further contributing to the market growth.
Rest-of- Asia-Pacific dominated the Asia-Pacific organ-on-chip market in 2023. This region includes fast-growing economies such as Indonesia and Thailand, where increased healthcare spending and governmental research support are beginning to foster market growth. Challenges across these markets include varying regulatory environments and sometimes limited local funding for high-tech research.
Impact Analysis:
Increasing Partnerships among Players: The organ-on-chip market has been witnessing a notable increase in partnerships among key players, driven by the need for advanced solutions in drug development and personalized medicine. Collaborative efforts have become more prevalent as companies aim to leverage each other's technological expertise and market presence. For instance, partnerships between pharmaceutical giants and biotech firms are facilitating the integration of innovative organ-on-chip technologies into mainstream drug testing processes. These alliances are not only enhancing research capabilities but also accelerating the commercialization of organ-on-chip platforms.
Increasing Investment and Funding for Organ-on-Chip Technologies: The organ-on-chip market has been experiencing a surge in investment and funding, reflecting growing confidence in the technology's potential to revolutionize drug development and personalized medicine. Venture capitalists, private equity firms, and large pharmaceutical companies are increasingly allocating substantial resources to support the development and commercialization of organ-on-chip platforms.
This influx of capital is enabling startups and established players alike to accelerate their research and development efforts, expand their technological capabilities, and bring innovative solutions to the market more rapidly.
Market Segmentation:
Application: Drug Discovery Segment to Continue Dominating the Organ-on-Chip Market -Organ-on-chip market has been led by drug discovery, which held a 65.20% share in 2023.
- Drug Discovery
- Toxicity Testing
- Other Applications
Offering: Product Segment to Continue Dominating the Organ-on-Chip Market - The organ-on-chip market has been led by product, which held a 53.94% share in 2023.
- Product
- Services
Organ Type: Liver-on-a-Chip Segment to Continue Dominating the Organ-on-Chip Market - Organ-on-chip market has been led by liver-on-a-chip, which held a 28.31% share in 2023.
- Liver-on-a-Chip
- Kidney-on-a-Chip
- Lung-on-a-Chip
- Heart-on-a-Chip
- Brain-on-a-Chip
- Other Organ-on-Chip
End User: Pharmaceutical and Biotechnology Companies Segment to Continue Dominating the Organ-on-Chip Market - Organ-on-chip market has been led by pharmaceutical and biotechnology companies, which held a 72.69% share in 2023.
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Cosmetic Industry
- Others
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 135 |
| Forecast Period | 2024 - 2033 |
| Estimated Market Value (USD) in 2024 | $152.4 Million |
| Forecasted Market Value (USD) by 2033 | $3596.3 Million |
| Compound Annual Growth Rate | 42.0% |
| Regions Covered | Global |
Market Dynamics Overview
Market Drivers
- Increasing Demand for Animal-Free Testing
- Increasing Focus on Organ-on-Chip Technology
- Rising Adoption of Organ-on-Chip (OOC) Technology among Pharmaceutical and Biotechnology Companies
- Ethical Considerations Surrounding the Utilization of Animal Models in Drug Development
Trends: Current and Future Impact Assessment
- Increasing Partnerships among Players
- Increasing Investment and Funding for Organ-on-Chip Technologies
Market Challenges
- Limitation of Use Restricted to Preclinical Trials
- Difficulty in Mimicking Complex Tissues and Organs
Market Opportunities
- Development of Multi-Organ-on-Chip Systems
- Organ-on-Chip Technologies to Hasten Transition to Personalized Medicine
Competitive Benchmarking & Company Profiles
- Emulate, Inc.
- Mimetas B.V.
- Kirkstall Ltd.
- Numa BioSciences
- AxoSim
- BICO Group AB
- CN Bio Innovations Ltd.
- SynVivo, Inc.
- BEOnchip
- The Charles Stark Draper Laboratory, Inc.
- TissUse GmbH
- InSphero
- Obatala Sciences
- Hesperos, Inc.
- Cherry Biotech
Regulatory Landscape
- Regulatory Framework in the U.S.
- Regulatory Framework in Europe
- Regulatory Framework in Japan
- Regulatory Framework in China
- Regulatory Framework in Other Countries
- Regulatory Framework in India
- Regulatory Framework in Latin America
- Regulatory Framework in the Middle East and Africa
R&D Review
- Patent Filing Trend (by Year, Country)
- Supply Chain Overview
Value Chain Analysis
- Market Map
Application
Global Organ-on-Chip Market (by Application)
- Drug Discovery
- Toxicity Testing
- Other Application
Global Organ-on-Chip Market (by End User)
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Cosmetic Industry
- Others
Products
Global Organ-on-Chip Market (by Offering)
- Product
- Services
Global Organ-on-Chip Market (by Organ Type)
- Liver-on-a-Chip
- Kidney-on-a-Chip
- Lung-on-a-Chip
- Brain-on-a-Chip
- Heart-on-a-Chip
- Other Organ-on-Chip
For more information about this report visit https://www.researchandmarkets.com/r/7cif0t
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