The increasing need for animal alternatives in medical research and growing government funds and grants for studies are the prime factors strengthening the organ-on-chip market, globally. In 2017, the market generated a revenue of $11.0 million, and it is predicted to witness a 40.1% CAGR during the forecast period (2018–2025). Organ-on-chip is a 3D microfluidic cell culture chip, developed to simulate the mechanical and natural physiological forces that cells are subject to inside the human body. These chips are integrated with living human cells as well as tiny fluidic channels to propagate air and blood flow.
Based on type, the organ-on-chip market is broadly classified into liver, heart, lung, kidney, and intestine-on-chip. Among these, in 2017, the liver-on-chip classification dominated the market in terms of revenue, and it is expected to exhibit the fastest growth with more than 45.0% CAGR during the 2018–2025 period. The surging incidents of chronic liver disease and rising research and development activities for therapeutic interventions are the major factors responsible for the growth of this classification.
The increasing collaboration among the key players and rising number of product launches are helping in the development of the organ-on-chip market. For instance, in October 2017, Charles River Laboratories International Inc. (Charles River) permitted InSphero AG to license its patient-derived xenograft (PDX) tumors. Furthermore, the company was to use the proprietary 3D cell culture technology of InSphero to further complement and expand its pre-clinical services, utilizing the in-vitro 3D InSight Tumor Microtissues obtained from its current PDX tumors.
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Thus, the growing need for alternative models for medical research studies is expected to boost the organ-on-chip market progress during the forecast period. Further, the increasing government funding is helping the market players conduct more research activities. Government agencies such as the National Institutes of Health offers grants to facilitate the research programs. For instance, in July 2017, Emulate Inc. declared it had been granted an undisclosed amount to utilize its human Brain-Chip system to create a fully automated research platform for carrying out experiments on the International Space Station.
Hence, the rising demand for alternative models for medical research and growing government support are accelerating the market growth.
Based on type, the organ-on-chip market is broadly classified into liver, heart, lung, kidney, and intestine-on-chip. Among these, in 2017, the liver-on-chip classification dominated the market in terms of revenue, and it is expected to exhibit the fastest growth with more than 45.0% CAGR during the 2018–2025 period. The surging incidents of chronic liver disease and rising research and development activities for therapeutic interventions are the major factors responsible for the growth of this classification.
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Pre-Purchase Inquiry at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=organ-on-chip-market
Thus, the growing need for alternative models for medical research studies is expected to boost the organ-on-chip market progress during the forecast period. Further, the increasing government funding is helping the market players conduct more research activities. Government agencies such as the National Institutes of Health offers grants to facilitate the research programs. For instance, in July 2017, Emulate Inc. declared it had been granted an undisclosed amount to utilize its human Brain-Chip system to create a fully automated research platform for carrying out experiments on the International Space Station.
Hence, the rising demand for alternative models for medical research and growing government support are accelerating the market growth.
