+60% CAGR Growth to be Achieved By Organs-on-chips in International Market By 2023
New Research: Organs-on-chips Market by Type (Heart-on-chip, Human-on-chip, Intestine-on-chip, Kidney-on-chip, Liver-on-chip, and Lung-on-chip), Offering (Product, Service), Application (Toxicity testing, Physiological model), End User (Academic, Research Institute, Pharma companies) – Global Forecast to 2023
Houston, United States – April 13, 2018 /MarketersMedia/ —
An organ-on-a-chip (OOC) is a microfluidic cell culture device, which is developed using microchip manufacturing methods that contain continuously perfused chambers inhabited by living cells arranged to simulate tissue- and organ-level physiology. This chip develops a narrow channel for the blood and air flow in organs such as lung, gut, liver, heart, and others. Such devices produce multiple levels of tissue and organ functionalities, which are not feasible using conventional 2D and 3D culture systems. Organ-on-chip offers a wide range of applications such as diseases modelling, patient stratification, and phenotypic screening.
Global Organs-on-chips Market Estimated to Grow at a CAGR of +60% during the forecast period
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The growth of this market is mainly driven by the growing focus on developing alternatives for animal testing models, significant increase in research funding and venture capital investments for the development of organs-on-chips, technological advancements and new products launches, growing number of partnerships and collaborations between pharmaceutical companies and organs-on-chips manufacturers, and growing need for early detection of drug toxicity to minimize financial losses due to late stage drug failure.
Top Companies Profiled in this Report includes, CN Bio (UK), Emulate (US), TissUse (Germany), Mimetas (Netherlands), InSphero (Switzerland), Ascendance Bio (US), Kirkstall (UK), HUREL (HUREL) (US), SynVivo (US), AxoSim (US), Nortis (US)
Organs-on-chips market research is an intelligence report with meticulous efforts undertaken to study the right and valuable information. The data which has been looked upon is done considering both, the existing top players and the upcoming competitors. Business strategies of the key players and the new entering market industries are studied in detail. Well explained SWOT analysis, revenue share and contact information are shared in this report analysis.
Organ-on-a-chip is expected to cater to wide range of applications ranging from disease modelling to patient stratification and phenotypic screening. Most of the demand is expected to be generated from lung-based organ culture, followed by kidney application. The technology offers better clinical examinations compared to petri dishes and animal testing – helping scientists and companies to better understand the functioning of internal organs such as the brain and lungs.
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Various factors are responsible behind the market’s growth trail, which are studied at length in the report. In addition, the report lists down the restraints that are posing threat to the global Organs-on-chips market. It also gauges the bargaining power of suppliers and buyers, threat to the new entrants and product substitute, and the degree of competition prevailing in the market. The influence of the latest government guidelines is also analyzed in detail in the report. It studies the market’s trajectory between forecast periods.
Organs-on-chips market is segmented on the basis of various parameters. The factors which are impacting the market’s growth are studied in detail. The report also presents a overall weaknesses which companies operating in the market must avoid in order to enjoy sustainable growth through the course of the forecast period. Besides this, profiles of some of the leading players operating and encouraging in the growth of the global market are included in the study. Additionally, using SWOT analysis, markets weaknesses and strengths are analyzed. It also helps the report provide insights into the opportunities and threats that these companies may face during the forecast period.
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