Bioivt Acquired Ascendance Biotechnology to Expand Its Presence in Organ-On-A-Chip Market

Growing lung-based organ culture and increasing application in disease modeling, phenotypic screening, and patient stratification is expanding organ-on-a-chip market size. This device offers better clinical examinations compared to Petri dishes and animal testing, thus helping scientists and companies a better understanding regarding the functioning of internal organs such as lungs and brains. Moreover, increasing funding and initiatives by the government are again expected to foster the growth of the organ-on-a-chip market. The growth is also attributed to the growing prevalence of various chronic and infectious diseases around the globe. These technological breakthroughs are used mainly for the study of the nervous system, cardiovascular systems, and the immune system, specifically to study the function of various organ systems.

1. In March 2018, BioIVT acquired Ascendance Biotechnology to expand its drug safety testing and toxicology portfolios.
2. In November 2018, BioIVT acquired Biological Specialty Corporation (BSC), which will expand its ability to offer fresh blood products.
3. In August 2019, BioIVT, a provider of research models for drug and diagnostic development hosted a research symposium titled, ‘“Innovation in Immuno-oncology: Breaking Down the Barriers’ in Massachusetts, U.S. This event highlighted research advances with implications for clinical practices and drug discovery of immune-oncology.

The global organ on a chips market size reached a value of nearly $50.8 million in 2020, having increased at a compound annual growth rate (CAGR) of 59.5% since 2015. The market is expected to grow from $50.8 million in 2020 to $177.8 million in 2025 at a rate of 28.5%. Organs-on-chips market growth is then expected to be at a CAGR of 14.6% from 2025 and reach $350.8 million in 2030.

Coherent Market Insights celebrating 5th anniversary and offering 2000 USD off on all reports. Let’s celebrate with us.

Buy Now and Get Instant Discount: https://www.coherentmarketinsights.com/promo/buynow/49

As per the report, some of the noteworthy brands working on helping the market grow further are:
• Emulate, Inc
• Nortis
• Mimetas
• Hesperos, Inc
• AxoSim Technologies LLC
• Tara Biosystems, Inc
• CN Bio
• TissUse G mbH

North America is expected to hold a dominant position in the global organ-on-a-chip market owing to increasing various research in novel therapies. For instance, in March 2021, Researchers from Texas A&M University, US, have developed a new organ-on-a-chip model to represent sickle cell disease.

An organ-on-a-chip, also known as an organ-on-boards or organoscope is a 3-dimensional microfluidic chip that simulates the physical and mechanical actions, motions, tissue responsiveness, and biological response of the whole organ and system systems. It constitutes the subject matter of important recent biomedical research, more specifically in the bio-art. The term "organ" is used here because it encompasses a wide range of real living organisms like the heart, brain, kidney, lungs, intestine, pancreas, etc. In addition to these systems, the term "organ" can also be used to indicate the functions of particular cells within an organism. Thus, the term "organ-on-a Chip" (or simply "organ on a chip") refers to a device that contains living, performing, cells with different functions in order to study their response to stimuli. These devices are extremely accurate in reproducing the natural biological response of these human organs and systems in response to particular simulations. These devices are also useful in detecting malfunctions in these systems, thus enabling the treatment process to progress normally in spite of organ failure.

Read more @ https://www.coherentmarketinsights.com/ongoing-insight/organ-on-a-chip-market-49

Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200 Seattle,
WA 98154, U.S.
Phone:
US: +1-206-701-6702
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com

About Us:
Coherent Market Insights (CMI) is a global market intelligence and consulting organization focused on assisting plethora of clients achieve transformational growth by helping them make critical business decisions. The company is headquartered in India, having office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. The company’s client base includes players from across various business verticals in over 47 countries globally. It takes pride in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies, to not-for-profit organization, and start-ups looking to establish a foothold in the market.

This release was published on openPR.