Organ On Chip Market Report
Organ on Chip Market by Type (Liver-on-a-chip, Kidney-on-a-chip, Lung-on-a-chip, Heart-on-a-chip, and others), Application (Drug Development, Disease Modelling, Molecular Biology, OOC, and R & D), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028
Global Organ on Chip Market Analysis
The global organ on chip market is predicted to garner $6, 97,654.30 thousand in the 2021–2028 timeframe, growing from $54,640.00 thousand in 2020 at a healthy CAGR of 37.60%.
Strategic alliances among market players, along with growing demand for drug screening, are expected to accelerate the growth of the organ on chip market.
However, higher cost associated for development of the systems are some growth-restricting factors for the global organ on chip market.
According to the regional analysis, the Asia-pacific organ on chip market is anticipated to grow during the review period due to rising focus on research in the region on organ on chip technology.
Organ on Chip Overview
Organ on chip is a type of micro-scale system that is used in drug modelling and drug testing. Also, the system is used to control the behavior and movements of cells and materials by using membranes, chambers, channels etc.
Impact Analysis of COVID-19 on the Global Organ on Chip Market
The novel coronavirus pandemic’s devastating effect on several industries highlighted the importance of technology in the health sector. Therefore, organ on chip market is estimated to experience a high growth rate during the COVID-19 pandemic. The organ on chip technology is one of the most promising technologies when it comes to development of drugs and vaccines that are under clinical trials. Therefore, the importance of organ on chip technology has skyrocketed, thus driving the growth of the market.
In addition to this, many government and non-government organizations are coming forward to help societies to recover from the pandemic with their strategies. For instance, on March 2020, WHO (World Health Organization), announced that Emulate, a U.S. based biotechnology company, will provide lung-on-chip technology in clinical trials of hydroxychloroquine. The above stated elements show that the pandemic may generate huge investment opportunities in the market in the coming years.
Increasing Demand for Animal Testing Alternatives for Drug Testing to Surge the Market Growth
The global organ on chip industry is witnessing massive growth mainly due to increasing demand for animal testing alternatives for drug testing because it offers potentially more ethical way of disease modelling. Also, it offers higher level of insights in terms of drug toxicity and efficacy. Moreover, organ on chip technology can reduce the cost of drug development, thus driving the adoption of organ on chip technology.
The emergence of organ on chip technology is already leading market players to innovate strategies to attract customers. For example, Emulate Inc., a U.S. based privately held company, in June 2019 and INTENZE Products, Inc., a U.S. based Tattoo ink company, are in collaboration, and the main aim of the company is to monitor the risk of ink tattoo with the help of organ on chip technology. Such collaborations and strategies from market leaders are also predicted to drive the growth of the market.
To know more about global organ on chip market drivers, get in touch with our analysts here.
Architectural Complexity in the Development of Chips to Restrain the Market Growth
Technical complexities in development of organ on chip and their cost may create a negative impact on the growth of the market during the forecast period.
Growing Trends of Organ on Chip in Drug Screening to Create Massive Investment Opportunities
The global organ on chip market is growing at a very fast pace due to increasing trends of organ on chip for drug screening owing to its application in quick sample reviewing. Moreover, organ on chip technology is used in in-vitro analysis of biochemical and other types of metabolic & genetic activities of body cells in tissues. Furthermore, the companies involved in the global organ on chip market are following effective steps and strategies for launching of innovative products to grow in the market. For instance, in May 2018, AstraZeneca began its work with Emulate for developing organs on chips in their labs. Also, the main aim of the technology is to gain new ways to study the disease mechanisms. Such types of advancements in the market may lead to lucrative market opportunities in the market in the upcoming years.
To know more about global organ on chip market opportunities, get in touch with our analysts here.
Organ on Chip Market
Source: Research Dive Analysis
The heart-on-a-chip type sub-segment is predicted to have a dominating market share in the global market. The sub-segment is expected to register a revenue of $1,63,501.80 thousand during the forecast period. According to WHO, heart problems are the leading cause of death worldwide. Also, adoption of modern lifestyle increases the risk of cardiovascular diseases (CVD); therefore heart-on-chips have gained much popularity in the recent years. These factors and R&D may bolster the growth of segment during the forecast period.
The kidney-on-a-chip type is anticipated to have the fastest market growth and it is predicted that the market shall generate a revenue of $1,36,090.70 thousand by 2028, growing from $9,909.20 thousand in 2020. The growth of the kidney-on-a-chip segment for the global organ on chip market is mainly attributed to increasing number of patients with kidney damage. Moreover, researchers are utilizing kidney on chip technology to monitor the progress of any drug associated with human kidney. Such key factors may have significant impact on market growth during the projected period.
Organ on Chip Market
Source: Research Dive Analysis
The disease modelling sub-segment of the global organ on chip market is projected to have the fastest growth and it is also projected to surpass $1,36,766.40 thousand by 2028, with an increase from $9,960.20 thousand in 2020. This growth in the market can be attributed to its application in the platforms such as protein-induced lung inflammation, type 2 diabetes, central nervous system disease, and pulmonary edema. All such elements may increase the demand for organ on chip technology for disease modelling and further surge the market growth.
The drug development sub-segment is anticipated to have a dominating market share in the global market and register a revenue of $3,34,887.00 thousand during the analysis timeframe. Drug development is a time-consuming process and it takes years to develop a drug; in such cases, organ on chip might save years for enter into clinical trials. All such elements may create huge opportunities for the sub-segment throughout the forecast period.
Organ on Chip Market
Source: Research Dive Analysis
The Market for Organ on Chip in North America to be the Most Dominant
The organ on chip market in North America accounted $26,937.50 thousand in 2020 and is projected to register a revenue of $3,35,571.70 thousand by 2028. The extensive growth of the North America organ on chip market is mainly driven by innovative technological innovations and rising healthcare applications in this region with existence of top leading researchers and scientists augmenting the industry growth in the region. Moreover, the strong presence of leading organ on chip providers and manufacturers is fueling the market growth across the globe. These factors will ultimately drive the demand in the organ on chip market across the region.
The Market for Organ on Chip in Europe to be the Fastest Growing
The share of Asia-Pacific organ on chip market is anticipated to grow at a CAGR of 38.70% by registering a revenue of $1,63,251.10 thousand by 2028. The growth shall be a result of increasing disposable income of the population along with supportive government funding in research institute for regenerative medicines will drive market in the region. Also, innovation in products, joint ventures, and private-public strategic alliances will spur the organ on chip market size in the foreseeable future. For instance, in May 2019, CN BIO, announced that they are in collaboration with AXT Pty. Ltd., and the main aim of this collaboration is to offer CN Bio’s innovative bioengineering products such as organ on chip products in the Asia-pacific region such as South Pacific, Australia, and New Zealand. All such factors will eventually foster the Asia-Pacific organ on chip market in the upcoming years.
Competitive Scenario in the Global Organ on Chip Market
Product launches and mergers & acquisitions are common strategies followed by major market players.
Source: Research Dive Analysis
Some of the leading organ on chip market players are Emulate, Inc., Tara Biosystems, Inc., Nortis, CN Bio, MIMETAS, TissUse GmbH, Hesperos, Inc., Kirkstall, AxoSim Technologies LLC and Insphero AG.
Porter’s Five Forces Analysis for the Global Organ on Chip Market:
- Bargaining Power of Suppliers: The service suppliers of organ on chip market are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
Thus, the bargaining power of suppliers is low.
- Bargaining Power of Buyers: Buyers demand for innovative and cost-effective organ on chip that can provide best services to the customers. Thus, many suppliers are offering best yet cost effective organ on chips. This gives the buyers the option to freely choose organ on chip that best fits their preference.
Thus, the bargaining power of the buyers is high.
- Threat of New Entrants: Companies entering in the organ on chip market are adopting various innovations.
Thus, the threat of the new entrants is moderate.
- Threat of Substitutes: There are different types of organ on chip available for different diseases.
Thus, the threat of substitutes is low.
- Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Emulate, Inc. and CN Bio. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
Therefore, competitive rivalry in the market is high.
Historical Market Estimations
Base Year for Market Estimation
Forecast Timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Type
Segmentation by Application
Segmentation by End-user
Key Companies Profiled
Q1. What is the size of the global organ on chip market?
A. The size of the global organ on chip market was over $54,640.00 thousand in 2020 and is projected to reach $6,97,654.30 thousand by 2028.
Q2. Which are the major companies in the organ on chip market?
A. Emulate, Inc., and Tara Biosystems, Inc., and CN BIO are some of the key players in the global patient centric healthcare app market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What will be the growth rate of the Europe organ on chip market?
A. Europe organ on chip market is anticipated to grow at 38.70% CAGR during the forecast period.
Q5. What are the strategies opted by the leading players in this market?
A. Technological development and strategic partnerships are the key strategies opted by the operating companies in this market.
Q6. Which companies are investing more on R&D practices?
A. Emulate, Inc., and Tara Biosystems, Inc.,. are investing more on R&D activities for developing new products and technologies.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.By type trends
2.3.By application trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.2.by application type
3.9.Market value chain analysis
3.9.1.Stress point analysis
3.9.2.Raw material analysis
22.214.171.124.Raw material suppliers
4.Organ on Chip Market, by Type
4.1.1.Market size and forecast, by region, 2019-2027
4.1.2.Comparative market share analysis, 2019 & 2027
4.2.1.Market size and forecast, by region, 2019-2027
4.2.2.Comparative market share analysis, 2019 & 2027
4.3.1.Market size and forecast, by region, 2019-2027
4.3.2.Comparative market share analysis, 2019 & 2027
4.4.1.Market size and forecast, by region, 2019-2027
4.4.2.Comparative market share analysis, 2019 & 2027
4.5.1.Market size and forecast, by region, 2019-2027
4.5.2.Comparative market share analysis, 2019 & 2027
5.Organ on Chip Market, by application
5.1.1.Market size and forecast, by region, 2019-2027
5.1.2.Comparative market share analysis, 2019 & 2027
5.2.1.Market size and forecast, by region, 2019-2027
5.2.2.Comparative market share analysis, 2019 & 2027
5.3. Molecular Biology
5.3.1.Market size and forecast, by region, 2019-2027
5.3.2.Comparative market share analysis, 2019 & 2027
5.4.OOC and R & D
5.4.1.Market size and forecast, by region, 2019-2027
5.4.2.Comparative market share analysis, 2019 & 2027
6.Organ on Chip Market, by Region
6.1.1.Market size and forecast, by type, 2019-2027
6.1.2.Market size and forecast, by Application , 2019-2027
6.1.3.Market size and forecast, by country, 2019-2027
6.1.4.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
6.2.1.Market size and forecast, by Type, 2019-2027
6.2.2.Market size and forecast, by Application , 2019-2027
6.2.3.Market size and forecast, by country, 2019-2027
6.2.4.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
6.2.10.Rest of Europe
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
6.3.1.Market size and forecast, by Type, 2019-2027
6.3.2.Market size and forecast, by Application , 2019-2027
6.3.3.Market size and forecast, by country, 2019-2027
6.3.4.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
6.3.8.Rest of Asia Pacific
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
6.4.1.Market size and forecast, by Type, 2019-2027
6.4.2.Market size and forecast, by Application , 2019-2027
6.4.3.Market size and forecast, by country, 2019-2027
6.4.4.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
126.96.36.199.Market size and forecast, by Type, 2019-2027
188.8.131.52.Market size and forecast, by Application , 2019-2027
184.108.40.206.Comparative market share analysis, 2019 & 2027
220.127.116.11.Market size and forecast, by Type, 2019-2027
18.104.22.168.Market size and forecast, by Application , 2019-2027
22.214.171.124.Comparative market share analysis, 2019 & 2027
7.1.4.Recent strategic moves & developments
7.2.Tara Biosystems, Inc.,
7.2.4.Recent strategic moves & developments
7.3.4.Recent strategic moves & developments
7.4.4.Recent strategic moves & developments
7.5.4.Recent strategic moves & developments
7.6.4.Recent strategic moves & developments
7.7.4.Recent strategic moves & developments
7.8.4.Recent strategic moves & developments
7.9.AxoSim Technologies LLC
7.9.4.Recent strategic moves & developments
7.10.4.Recent strategic moves & developments
Organ on chip is a type of technology that is utilized as a micro scale. It’s majorly used in the process of testing of drugs and in modelling the drugs as well. The organ on chip is also used to alter the behaviour of cells and uses chambers and channels to initiate this.
Covid-19 Impact on the Global Organ On Chip Market
With the COVID-19 virus impacting the world negatively, it also brought forth the significance of the medical sector. The organ on chip market in this duration witnessed a significant growth as this technology was used immensely as it provided the appropriate results with regard to drugs, vaccines and other medications. The clinical trials usually utilize the on chip technology to test for toxicity levels of the vaccine. This requirement increased instantly during the pandemic as there was an urgent requirement of vaccines in bulk amounts.
To add further, multiple government and non-government organizations worked on re-establishing some normalcy in the society. They have been constantly putting in efforts to ensure that the people are able to recover from the virus and its effects. These factors have been a reason for the growth of the global organ on chip market.
Key Developments in the Industry
Several industries are working on building up their presence in the market while also involving in research which is a part of the efforts. The innovative methodologies by organizations of creating better products are also used, keeping in mind satisfaction of customers or companies in terms of quality.
For instance in March 2020, MIMETAS, a pioneer in biotechnology known for the production of products related to drug development, declared the launch of a new variant in the Assay Ready Product Line. The product known as OrganiReady*Caco-2 has been developed after forming 38 intestinal tubules within it fitted against an extracellular matrix. This variant can be used for different purposes such as development and testing of drugs, toxicology studies and more. The readymade assay can also be used not just by the medical sector, but by the food and dairy sectors as well to ensure that their health claims are valid.
Forecast Analysis of the Global Organ On Chip Market
According to the latest report published by Research Dive, the global organ on chip market is predicted to witness a rise in revenue from $54,640.00 million in 2020 to a tremendous $6,97,654.30 million by 2028 at a steady CAGR of 37.60% from 2021-2028.
The organ on chip technology has become an essential within the healthcare industry as it is used extensively to ensure the safety levels and toxicity of drugs and vaccines. It is also a more ethical way of drug testing and has been experiencing a lot of advancements. Additionally, this method of drug testing ensures that the cost of development goes down which is an advantage for drug production companies. To add further, several companies have been working on developing the technology further by taking part in partnerships and alliances with other industry experts. These features are expected boost the growth rate of the market.
On the flipside, the production process of organ on chip technology is intricate and challenging. To add further the cost of production is also another factor that has been working as a hindrance for market growth.
But, in a lot of cases organ on chip is the kid of technology that has multiple used to its credit which is one of the primary reasons for its use by the medical department. The organ on chip works on processes such as quicker reviews of samples, in-vitro analysis of biochemical and more. The fact that it is used not only by the healthcare sector but within the food industry as well is one of the redeeming factors for the market. To add further, rapid advancements in the organ on chip market, new and revolutionary products, and initiatives by experts of the industry have further provided a pathway towards growth for the market.
Moreover many key players such as Emulate, Inc, Nortis, MIMETAS, Hesperos, Inc, AxoSim Technologies, Tara Biosystems, Inc, CN Bio, TissUse GmbH, Kirkstall, and Insphero AG have been working on implementing advanced techniques to work on new products, mergers, and other initiatives to help in the growth of the market.