One of the biggest factors propelling the demand for organ-on-chip is the increasing number of investments being made in research by the governments of several countries all around the world. For instance, the National Center for Advancing Translational Sciences (NCATS) gave a research grant worth $2 million to Emulate Inc. in July 2017, in order to allow the company to leverage its human Brain-Chip system and create a fully automated research platform for conducting experiments on the International Space Station.
Driven by the above-mentioned factors, the global organ-on-chip market is predicted to advance at a 40.1% CAGR during 2018–2025 (forecast period). The valuation of the market is expected to rise from $11.0 million in 2017 to $163.1 million by 2025. Organs-on-chips are essentially tiny models of body parts, which can simulate the functioning of the real thing. These products are used in various applications, such as physiological model development, toxicology research, and drug discovery. Amongst these, the drug discovery applications are expected to record the fastest growth in the usage of organ-on-chip products during the forecast period.
The major trends currently being witnessed in the organ-on-chip market are the rising number of product launches and increasing collaborations amongst the leading organ-on-chip using laboratories and organizations across the world. For instance, in October 2017, InSphero AG started a collaboration with Charles River Laboratories International, Inc. (Charles River). With this collaboration, Charles River intends to award InSphero AG the license its collection of patient-derived xenograft (PDX) tumors. In addition to this, Charles River also plans to leverage the proprietary 3D cell culture technology of InSphero Ag in order to extend its pre-clinical services.
Geographically, the Asia-Pacific region is predicted to observe huge growth of organ-on-chip products during the forecast period. This is primarily ascribed to the rising healthcare expenditure, soaring government initiatives and investments for healthcare research and development (R&D) activities, and the surging adoption of advanced healthcare and research technologies in the region. For instance, several government organizations in China such as the Chinese Academy of Sciences are increasingly adopting organ-on-chip products for biological analysis in various applications.
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This Study Covers
• Historical and the present size of the organ-on-chip market
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential