Organ-on-a-chip Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024
Organ-on-a-chip is gaining prominence on the backdrop of regulatory measures on animal testing and growing complexity in therapeutic applications. Various players are trying to capitalize on lucrative growth opportunities in the organ-on-a-chip devices market. It is a unique cell culture process, wherein biomimetic microsystem is used as a platform.
These devices are built on silicone, which can be used to grow internal organs. This finds application in organ transplantation and also therapeutics. Harvard’s Wyss Institute is engaged in lung-on-chip production, commercialization of which would help in exponential growth of the organ-on-a-chip market. Moreover, partnerships of biotech and pharmaceutical companies with universities is expected to scale up the commercialization process in the near future. This billion dollar industry is expected to create significant market opportunities for players. Some companies such as Mimetas are currently engaged in development of kidney-on-a-chip. This technology is gaining traction as this unique technology greatly reduces the amount of testing carried out on animals, while providing highly accurate results.
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Organ-on-a-chip Market Dynamics
Organ-on-a-chip is expected to cater to wide range of applications ranging from disease modelling to patient stratification and phenotypic screening. Most of the demand is expected to be generated from lung-based organ culture, followed by kidney application. The technology offers better clinical examinations compared to petri dishes and animal testing – helping scientists and companies to better understand the functioning of internal organs such as the brain and lungs.
Funding and government initiatives are projected to further boost market growth in the near future. Though the market is expected to create substantial opportunities, high cost and early stage in R&D are some of the factors leading to slow growth of the market. Market is expected to witness rampant commercialization post-2020.
Organ-on-a-chip Market - Regional Analysis
North America and Europe are expected to dominate the overall organ-on-a-chip market throughout the forecast period. The regions are early adopters of newly developed technology. Moreover, demand is expected to be further propelled by large consumer base in these regions. North America spends over 16% of its GDP on healthcare. Moreover, various research activities are carried out in the region, which is home to some of the leading players in the market. Also, organ transplant rate is high in the region. Growth of the Europe market is expected to be primarily driven by rising demand for organ-on-chip in Germany, U.K., and France.
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Asia Pacific is a lucrative market for companies engaged in organ-on-a-chip market. However, commercialization is not expected to take place in early years. As market is still in its early stage, it would take a few years before companies can expect return on profit. Japan and China are key markets in Asia Pacific. These countries account for over half of the pharmaceutical market in Asia Pacific. Also, these countries are well equipped with technologically advanced medical devices and research centers.
Organ-on-a-chip Market - Competitive Landscape
Organovo, Hepregen, Hurel Corporation, Nortis, TissUse, Tara Biosystems, and AxoSim are some of the players engaged in organ-on-a-chip market. These companies are located in North America, with most being start-ups albeit with major funding and are expected to attain major commercial success in the near future.
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