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I AgreeAnalysis of Organs-on-Chips market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global organs-on-chips market stands at a valuation of US$ 79 million and is anticipated to balloon to a size of US$ 339.5 million by the end of 2027. This is because worldwide sales of organs-on-chips are projected to increase at an astronomical CAGR of 33.8% over the next five years.
Advancements in organ-on-chip technology are expected to be of prime importance in driving market development over the coming years. Demand for lungs-on-chips is anticipated to be higher than demand for heart-on-chips over the coming years.
Report Attributes |
Details |
---|---|
Organs-on-Chips Market Size (2022) |
US$ 79 Million |
Projected Year Value (2027F) |
US$ 339.5 Million |
Global Market Growth Rate (2022-2027) |
33.8% CAGR |
Key Companies Profiled |
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The healthcare industry has witnessed some major revolutionary changes over the past couple of decades and this has fostered the demand for some of the most outrageous innovations the world has ever witnessed. Organs-on-chips is a revolutionary innovation that emulates the natural physiology of cells of the human body.
Organs-on-chips are being crucially used in the drug development process as they enable researchers to study the exact impact of drugs on organs and get a detailed analysis at the cellular as well as the molecular level and this is expected to drive sales of organs-on-chips through 2027.
Rising concerns regarding testing of drugs on animals, growing demand for personalized medicine, increasing investments in healthcare research, and supportive government funding are other factors that are expected to positively impact the global organs-on-chips market potential across the forecast period.
Shortage of organ donors and lack of availability of functional lab-engineered organs are also expected to drive shipments of organs-on-chips over the next five years.
However, the high cost of deployment and development of organs-on-chips are anticipated to have a hindering effect on the global organs-on-chips market to some extent over the coming years.
The global organs-on-chips market is predicted to surge ahead at an exceptional CAGR of 33.8% from 2022 to 2027.
“Rising Drug Screening Activity Propels Organ-on-Chip Demand”
The prevalence of chronic diseases has increased notably over the past few years and this trend is expected to be rife over the coming years as well. The need for new drugs and growing focus on healthcare across the world has resulted in high drug screening activity. Organs-on-chips are being used in drug development and screening to reduce costs and decrease reliance on animal testing, which has its ethical challenges associated with it.
Hence, as demand for drug screening and drug development bolsters, it is anticipated to favour organs-on-chips market potential over the years to come.
“Increasing Healthcare Expenditure across Emerging Economies”
The focus on healthcare has bolstered over the past few years owing to the increasing prevalence of chronic diseases and frequent outbreaks of infectious ailments. This has led to a heightened focus on healthcare and also led to a high healthcare expenditure in various economies.
A notable increase in healthcare spending has been observed in nations such as India, China, Brazil, and Japan, which is mostly directed toward the research and development of novel and innovative healthcare solutions.
This increased spending on research and development is expected to positively impact the organs-on-chips market and promote the demand for organs-on-chips throughout the forecast period.
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“High Cost of Development & Deployment of Organs-on-Chips”
Organs-on-chips is a technology that is still in its nascent stages and has a backlog of research that still needs to be carried out for this healthcare trend to become mainstream. The development and deployment costs associated with organs-on-chips are very high and make it an extremely expensive solution that is inaccessible to most of the general population across the world.
This is expected to have a constraining effect on the overall organs-on-chips market potential over the years to come.
“Start-ups Can Focus on Developing Innovative Products to Stand Out in the Marketplace”
Organs-on-chips is a very new technology and still in its initial stages of development, and this makes it a highly opportunistic technology for new companies to focus on.
The market has a huge untapped potential that new entrants can unlock by expanding their research scope and coming up with innovative organ-on-a-chip models. Multi organs-on-chips are expected to gain significant popularity and demand over the coming years owing to rapid technological advancements and advances in the research sector.
Currently, aspiring market players are focusing on expanding their business scope by acquiring financing to bolster their research and develop innovative organ-on-chip devices.
“Demand for Organs-on-Chips to be High in North America”
The market for organs-on-chips in North America is projected to witness high demand owing to high healthcare research activity in this region and the prevalence of key pharmaceutical and biotechnology companies.
High investments in the R&D sector, a growing prevalence of chronic diseases, and a rising geriatric population are expected to bolster demand for human organs-on-chips in this region through 2027. Canada and the United States are expected to be the leading markets in this region over the next five years.
Organ-on-chip suppliers can focus on the Asia Pacific region owing to increasing investments in healthcare research and development along with supportive government initiatives to bolster healthcare infrastructure. Organ-on-a-chip devices are anticipated to gain popularity in economies such as India, China, and Japan owing to an increasing patient pool and rising investments in healthcare R&D.
“High Healthcare Expenditure & Rapid Adoption of Novel Technologies”
The U.S. organs-on-chips market is expected to be a highly lucrative market over the years to come and the growth can be ascribed to increasing geriatric population, high research activity in the healthcare industry, supportive government initiatives, presence of key pharmaceutical and biotechnology companies, and rising acceptance of organs-on-chips.
The country is home to some of the major biotechnology and pharmaceutical companies, and a high focus on R&D in these organizations is expected to favor the overall market potential through 2027.
“Lungs-on-Chips to Head Organ-on-Chip Sales”
The global organs-on-chips market, based on organ, is segmented into liver, heart, lungs, and other organs.
The lungs segment is anticipated to lead the overall organs-on-chips market revenue generation capacity owing to lower lung transplantations and increasing investments in the development of lungs-on-chips. The rising use of lab-engineered lungs in the drug screening process owing to the high prevalence of respiratory disorders is also expected to drive growth in this segment over the years to come.
Demand for heart-on-chip is also anticipated to exhibit a lucrative growth outlook owing to the increasing incidence of cardiovascular disorders across the world which is expected to rise as the senescent population increases through 2027.
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Organ-on-chip manufacturers are expected to advance their research scope by increasing investments in the R&D division and leveraging strategies such as collaborations, mergers, acquisitions, and partnerships as well.
This latest organs-on-chips market study by analysts at Fact.MR, a market research and competitive intelligence provider, has profiled key companies such as CN Bio Innovations, InSphero, BioIVT, Kirkstall, HemoShear Therapeutics LLC, Visikol, SynVivo, and AxoSimto, to highlight organ-on-a-chip applications and organ-on-a-chip challenges that prime organizations are focusing on.
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The global organs-on-chips market has reached a size of US$ 79 million.
The global market for organs-on-chips is projected to reach US$ 339.5 million by 2027.
From 2022 to 2027, sales of organs-on-chips are projected to increase at a phenomenal CAGR of 33.8%.
Demand for lungs-on-chips is anticipated to lead global market expansion.
Visikol, SynVivo, AxoSim, Nortis, Emulate Inc., Tara Biosystems Inc., MIMETAS, Organovo Holdings Inc., TissUse GmbH, and Hesperos Inc. are prominent manufacturers of organs-on-chips.
North America is anticipated to be the most lucrative organs-on-chips market through 2027.