Organ-on-chip Market Size by 2026 - Global OOC Industry Forecast, Competitor Analysis and Money Makers

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.

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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.

Top Impacting Factors:

? Surge in application of organ-on-chip devices in the healthcare sector
? Increase in demand for organ-on-chip in drug screening
? Rise in demand for lung- & kidney -based organ culture devices
? High cost of organ-on-chip devices
? Nascent stage in R&D pertaining to OOCs
? Increase in research activities on organ-on-chip devices

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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.

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