Organ-on-Chip Market Growth & Key Business Strategies by Leading Industry Players Emulate, Inc., AxoSim Technologies LLC, CN Bio Innovations, Hurel Corporation, Ascendance Biotechnology, Inc., Insphero AG, Mimetas B.V, Nortis Inc., Organovo Holdings, Inc.

According to a new report published by Allied Market Research, titled, "Organ-On-Chip Market by Type (Heart-on-Chip, Human-on-Chip, Intestine-on-Chip, Kidney-on-Chip, Liver-on-Chip, and Lung-on-Chip): Global Opportunity Analysis and Industry Forecast, 2017-2023," the global organ-on-chip market was valued at $5 million in 2016, and is projected to reach at $170 million by 2023, growing at a CAGR of 63.2% from 2017 to 2023. Heart-on-chip segment is anticipated to witness the highest growth rate during the forecast period.

The global market is in its growth phase, and is expected to witness significant growth rate of 63.2% during the forecast period, due to surge in applications of organ-on-chip devices in the healthcare sector and increase in demand for organ-on-chip in drug screening.

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North America was the highest revenue contributor in the global market in 2016, as advancements in cell biology, microfabrication, and microfluidics have led to the development of OOCs. In addition, rise in demand for lung- and kidney-based organ culture devices is expected to boost the market growth. Asia-Pacific is anticipated to witness a significant growth rate during the forecast period, owing to increase in research activities.

In 2016, the lung-on-chip segment accounted for the highest share in the market, while the heart-on-chip segment is anticipated to witness the highest growth rate from 2017 to 2023, owing to increase in applications of organ-on-chip devices for the cure of several cardiac diseases such as heart failures.

The key players profiled in the study are Emulate, Inc., AxoSim Technologies LLC, CN Bio Innovations, Hurel Corporation, Ascendance Biotechnology, Inc., Insphero AG, Mimetas B.V, Nortis Inc., Organovo Holdings, Inc., and Tara Biosystems. These players have adopted various competitive strategies such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations to strengthen their foothold in the market.

Key Findings of the Organ-On-Chip Market:

• Heart-on-chip segment is projected to witness the highest growth rate of 64.1%.
• North America generated the highest share of $60 million, in terms of revenue, in 2016.
• Asia-Pacific generated the highest growth rate of 65.2% during the forecast period.
• Lung-on-chip segment generated highest market share of 21% in 2016.

Analyst Review:

The global organ-on-chip market is expected to grow at a significant rate of 63.2% from 2017 to 2023. An organ-on-a-chip (OOC) is a microfluidic cell culture device, which is developed using microchip manufacturing methods that contain continuously perfused chambers inhabited by living cells arranged to simulate tissue- and organ-level physiology.

Surge in applications of organ-on-chip devices in healthcare sector is expected to boost the growth of the organ-on-chip market during the forecast period. In addition, increase in demand for organ-on-chip in drug screening is expected to fuel the market growth. However, nascent stage in R&D pertaining to OOCs is anticipated to hamper the demand of organ-on-chip market.

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The global organ-on-chip market is expected to reach $170 million by 2023. Human-on-chip segment is expected to witness significant growth, due to rise in number of deaths by different cardiac diseases such as heart failure. Geographically, the North America market accounted for the highest share of revenue in 2016, followed by Europe. The Asia-Pacific organ-on-chip market is anticipated to grow at the highest growth rate during the forecast period.

The key market players in the global organ-on-chip industry have various adopted various strategies such as product launches, partnerships, business expansions, promotional activities, and strategic alliances to create awareness about the technology and increase its adoption across various verticals.

LIST OF TABLES

TABLE 1. GLOBAL ORGAN-ON-CHIP MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 2. HEART-ON-CHIP MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 3. HUMAN-ON-CHIP MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 4. INTESTINE-ON-CHIP MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 5. KIDNEY-ON-CHIP MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 6. LIVER-ON-CHIP MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 7. LUNG-ON-CHIP MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 8. ORGAN-ON-CHIP MARKET, BY GEOGRAPHY, 2016-2023 ($MILLION)
TABLE 9. NORTH AMERICA ORGAN-ON-CHIP MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 10. NORTH AMERICA ORGAN-ON-CHIP MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 11. EUROPE ORGAN-ON-CHIP MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 12. EUROPE ORGAN-ON-CHIP MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 13. ASIA-PACIFIC ORGAN-ON-CHIP MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 14. ASIA-PACIFIC ORGAN-ON-CHIP MARKET, BY COUNTRY, 2016-2023 ($MILLION)
TABLE 15. LAMEA ORGAN-ON-CHIP MARKET, BY TYPE, 2016-2023 ($MILLION)
TABLE 16. LAMEA ORGAN-ON-CHIP MARKET, BY REGION, 2016-2023 ($MILLION)
TABLE 17. AXOSIM: COMPANY SNAPSHOT
TABLE 18. AXOSIM: OPERATING SEGMENTS
TABLE 19. AXOSIM: PRODUCT PORTFOLIO
TABLE 20. CNI: COMPANY SNAPSHOT
TABLE 21. CNI: OPERATING SEGMENTS
TABLE 22. CNI: PRODUCT PORTFOLIO
TABLE 23. EMULATE: COMPANY SNAPSHOT
TABLE 24. EMULATE: OPERATING SEGMENTS
TABLE 25. EMULATE: PRODUCT PORTFOLIO
TABLE 26. ASCENDANCE: COMPANY SNAPSHOT
TABLE 27. ASCENDANCE: OPERATING SEGMENTS
TABLE 28. ASCENDANCE: PRODUCT PORTFOLIO
TABLE 29. HUREL: COMPANY SNAPSHOT
TABLE 30. HUREL: OPERATING SEGMENTS
TABLE 31. HUREL: PRODUCT PORTFOLIO
TABLE 32. INSPHERO: COMPANY SNAPSHOT
TABLE 33. INSPHERO: OPERATING SEGMENTS
TABLE 34. INSPHERO: PRODUCT PORTFOLIO
TABLE 35. MIMETAS: COMPANY SNAPSHOT
TABLE 36. MIMETAS: OPERATING SEGMENTS
TABLE 37. MIMETAS: PRODUCT PORTFOLIO
TABLE 38. NORTIS: COMPANY SNAPSHOT
TABLE 39. NORTIS: OPERATING SEGMENTS
TABLE 40. NORTIS: PRODUCT PORTFOLIO
TABLE 41. ORGANOVO: COMPANY SNAPSHOT
TABLE 42. ORGANOVO: OPERATING SEGMENTS
TABLE 43. ORGANOVO: PRODUCT PORTFOLIO
TABLE 44. TARA BIOSYSTEMS: COMPANY SNAPSHOT
TABLE 45. TARA BIOSYSTEMS: OPERATING SEGMENTS
TABLE 46. TARA BIOSYSTEMS: PRODUCT PORTFOLIO

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