Organs-On-Chips Market: Current Analysis and Forecast (2021-2027)
$3999 – $7577
By Organ Type (Heart, Liver, Lung, Others); By Application (Drug Discovery, Toxicology Research, Physiological Model Development, Others); By End-User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Others); Regions and Country
Organs-On-Chips Market is anticipated to display a CAGR of around 32% over the forecast period (2021-2027). An organ-on-chip refers to a microfluidic cell culture device with continuously perfused chambers. This chip creates a narrow channel for blood and airflow in organs like the lung, heart, liver, intestine, and others. These devices generate multiple levels of tissue and organ functionality that are not possible with traditional 2D and 3D culture systems. It has numerous applications, including patient stratification, disease modelling, and phenotypic screening. Moreover, the rising need for alternatives to animal testing, increasing demand for early detection of drug toxicity, as well as new product launches and technological advancements are the crucial factors propelling the market growth. For instance, in December 2020, CN Bio and the University of Melbourne collaborated to develop therapies through the lung-on-a-chip technology for respiratory complications among patients who have recovered from COVID-19. Furthermore, the mounting demand for personalized medication and wide-range applications of organ-on-chip beyond the pharmaceutical industry are the crucial factors providing lucrative opportunities for market growth.
Insights Presented in the Report
“Amongst Organ Type, Lung Category held significant market share in 2020”
Based on the organ type, the market is categorized into Heart, Liver, Lung and Others. Among these segments, lung segment dominates the organs-on-chips market. The lung-on-chip technology is a three-dimensional, complex model of a living, breathing human lung on a microchip. This device, which is composed of human lung and blood vessel cells, can predict the absorption of airborne nanoparticles and mimic the inflammatory response elicited by microbial pathogens. The device can also be used to test the effects of environmental toxins, aerosolized therapeutic absorption, and the safety and efficacy of new drugs. It is expected to be used instead of animal testing. The development of new treatments for pulmonary diseases is currently of primary importance, as pulmonary diseases are among the world’s most dreadful conditions. According to World Health Organization, 10 million people fall ill with tuberculosis (TB) every year. Despite being a preventable and curable disease, 1.5 million people die from TB each year, making it the world’s top infectious killer.
“Amongst Application, Drug Discovery Category Dominated the Market”
Based on the application, the market is bifurcated into drug discovery, toxicology research, physiological model development, and others. Among these segments, drug discovery accounts for the largest market share. The cost-effectiveness, miniaturized scale, and precise control of an organ on a chip over the mechanical and chemical microenvironment are gaining traction among pharmaceutical and biotechnology companies in order to reduce drug failure rates. The use of organs-on-chip creates a microenvironment that imitates the pathophysiological conditions of the human body, resulting in significant financial savings by replacing the trial and error method with a more reliable and efficient process. Although the number of drugs approved by the FDA has augmented from an average of 23 per year between 2000 and 2010 to 38 per year between 2011 and 2018, the average revenue per drug has reduced significantly. The latter trend is projected to continue. The decreasing average peak sales and strong competition limit the opportunity to maximize returns from new launches. Hence, the need for organ-on-chip devices is increasing for assisting in drug discovery process.
“North America will Dominate the Market During the Forecast Period”
For a better understanding of the market adoption of Organs-On-Chips, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Indonesia, Bangladesh Rest of Asia-Pacific), and Rest of World. North America dominates the organ-on-chip market, owing to the rising availability of a several services offered by major players including customized designing of new chips with particular organ arrangements and surge in toxicological testing of chemicals on the different types of organ cells. Some of the major players operating in the market are MIMETAS BV, SynVivo Inc., Emulate Inc., InSphero AG, CN Bio, Nortis Inc., Organovo Holdings Inc., TissUse GmbH, AxoSim Inc., Kirkstall Ltd.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
- The study comprehensively covers the market across different segments
- Deep dive regional level analysis of the industry
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|1.4.||Currency used in Report|
|2.1.||Research Process of the Organs-on-Chips Market|
|2.2.||Research Methodology of the Organs-on-Chips Market|
|2.5.||Main Objective of the Organs-on-Chips Market Study|
|5||ORGANS-ON-CHIPS MARKET COVID-19 IMPACT|
|6||ORGANS-ON-CHIPS MARKET REVENUE (USD BN), 2019-2027F|
|8.3.||Physiological Model Development|
|9.1.||Pharmaceutical and Biotechnology Companies|
|9.2.||Academic and Research Institutes|
|10.1.3.||Rest of North America|
|10.2.5.||Rest of Europe|
|10.3.6.||Rest of Asia-Pacific|
|10.4.||Rest of World|
|12||ORGANS-ON-CHIPS MARKET OPPORTUNITIES|
|13||ORGANS-ON-CHIPS MARKET TRENDS|
|14||LEGAL & REGULATORY FRAMEWORK|
|15.1.||Demand Side Analysis|
|15.2.||Supply Side Analysis|
|15.2.1.||Top Product Launches|
|15.2.2.||Top Business Partnerships|
|15.2.3.||Top Business Expansions|
|15.2.4.||Top Merger and Acquisitions|
|16.1.1.||Company Shares, By Revenue|
|17.8.||CN Bio Tissues|
|17.9.||Ascendance Biotechnology, Inc.|
Analyzing the historical market, estimation of the current market, and forecasting the future of the Organs-On-Chips Market were the three major steps undertaken to create and analyze the demand and sales of Organs-On-Chips across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detailed secondary study was conducted to obtain the historical market size of the Organs-On-Chips through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Organs-On-Chips, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report are organ type, application, and end-user. Further regional level analyses were conducted to evaluate the overall demand of Organs-On-Chips in global context.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as like growing demand for Organs-On-Chips products like rising need to reduce financial losses due to late-stage drug failure. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and sub segments across the major regions globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of value (US$) and the demand of Organs-On-Chips across the major regions globally
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the Organs-On-Chips Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Organs-On-Chips market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of organ type, application, end-user and regions.
The main objective of the Organs-On-Chips Market Study
The current & future market trends of the Organs-On-Chips Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of Organs-On-Chips in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments of the industry
- Segments in the study include organ type, application, end-user, and regions
- Defined analysis of the regulatory framework for the Organs-On-Chips industry
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
- Analyze the current and forecast market size of the Organs-On-Chips across the globe. Major regions analyzed in the report include North America (US, Canada, Rest of North America); Europe (Germany, UK, France, Italy, Rest of Europe); Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific); and Rest of World. Define and analyze the competitive landscape of the Organs-On-Chips sector and the growth strategies adopted by the market players to sustain in the fast-growing market
Deep dive regional level analysis of the industry