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Know About the Future of Organ-on-Chip Market 2025 and What Makes it a Booming Industry According to Following Research Report
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Organ-on-chip products find application in toxicology research, physiological model development, and drug discovery. The application of organ-on-chip for drug discovery is projected to witness fastest growth in demand, registering CAGR of 47.7% during the forecast period. On the basis of end user, the adoption of organ-on-chip by pharmaceutical and biotechnology companies is higher as compared to academic & research institutes, and other end users since a majority of grants and investments for research and development are received by these companies.
The organ-on-chip market in APAC is expected to witness a significant growth during the forecast period. This growth is attributed to factors such as increasing healthcare expenditure, rising government initiatives and funding for healthcare R&D, and increase in the adoption of advanced technologies in the region.
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The players in organ-on-chip market are launching new and innovative products to enhance their product portfolio. For instance, in July 2017, Hmrel Corporation, launched HuRELviral application. The Hµrelviral microliver testing platform sustains hepatitis B virus (HBV) infection in actual human liver cells for over thirty days. This is expected to equip virologists with unprecedented insight into a drug candidate’s potential to cure chronic HBV.
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Some of the other key players operating in the organ-on-chip industry include Emulate Inc., Mimetas B.V., TissUse GmbH, Kirkstall Ltd., CN Bio Innovations Ltd, Ascendance Biotechnology, Inc., Nortis, Inc., and Organovo Holdings, Inc.
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