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Nov-2021

Organ-on-Chip Market Size Worth USD 284.65 million by 2026

Global Organ-on-Chip Market Size, Share, Trends, COVID-19 Impact & Growth Analysis Report – Segmented By Type, Application & Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) – Industry Forecast (2021 to 2026)

The global organ-on-chip market size is estimated to be growing at a CAGR of 36.4% from 2021 to 2026 and worth USD 284.65 million by 2026 from USD 60.29 million in 2021.

Impact of COVID-19 on the global organ-on-chip market:

The devastating effect of the novel coronavirus pandemic on various industries has highlighted the importance of technology in the healthcare sector, especially in research and development. Various government and non-government organizations are collaborating to limit the spread of the virus and implement strategies to improve the healthcare system. Organ-on-chip technology is one of the most promising technologies for drug and vaccine development in clinical trials. Therefore, it is estimated that the organ-on-chip market is predicted to experience a high growth rate during the COVID-19 pandemic. For instance, in 2020, BioVox took the initiative to promote organ-on-a-chip technology as an in vitro research model and to decrease animal testing.

DRIVING FACTORS:

Organ-on-a-chip technology can generate innovative medicines for patients. However, drug testing and development is a time-consuming and lengthy process, and in such cases, the organ-on-a-chip could gain years to enter clinical trials. The market has seen growth due to increased investment by leading pharmaceutical and biotechnology companies for research and development.

Organ-on-a-chip is used to study human diseases, development, and testing of personalized drug and regulatory guidelines for approvals. These microdevices are also used as an alternative to animal testing, which will significantly reduce laboratory costs. Additionally, favorable government initiatives and government funding for the organ-on-chip are anticipated to drive the market positively during the forecast period. For instance, in 2018, InSphero received government funding of approximately USD 10 million to research and develop organ-on-chip models.

RESTRAINING FACTORS:

The formulation and study of organ-on-chip is a complex process; hence the market requires skilled labor and significant investments. In addition, the market is also challenged due to strict government regulations for drug approval. All these factors may be responsible for restraining the organ-on-chip market during the forecast period.

MARKET SEGMENTATION:

By Type:

Heart-On-Chip
Human-On-Chip
Intestine-On-Chip
Kidney-On-Chip
Liver-On-Chip
Lung-On-Chip

By Application:

Drug Discovery
Toxicology Research
Other Applications

By Region:

North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

KEY MARKET INSIGHTS:

Based on the type of organ, the largest segment of the organ-on-a-chip market was lungs-on-chip a, which held a 22.8% share in 2020. Lung-on-chip is a complex three-dimensional model of a human respiratory system with lungs living on a microchip. The decrease in the number of donor lungs for transplantation is one of the leading causes of patient death. This has led to a strong need to design functional organs designed in the laboratory, thereby further enhancing the growth of the organs-on-a-chip market.
The organ-on-chip market is predicted to be driven by the drug discovery segment based on the application. Hence, this segment is expected to hold a significant market share. Moreover, the drug toxicity and efficacy of the drug in different organs are evaluated with the help of this innovative method, and the increasing number of such processes in several regions across the world is expected to favor the studied market.
Research organizations are also growing in the organ-on-a-chip market due to the rising number of leading universities and non-profit research centers adopting various organ-on-chip applications. For example, the Wyss Institute received nearly $ 5.6 million as grants from the US FDA to use its organ-on-a-chip technology for human testing in 2017.
North America is estimated to lead the global market during the forecast period, followed by Europe.
The organ-on-a-chip market is very competitive and consists of several major players. International companies are working with regional authorities to ease their product approvals. Companies such as AxoSim Inc., Elveflow, Emulate Inc., InSphero AG, MIMETAS BV, Nortis Inc., and TissUse GmbH are expanding their base in many regions, which is increasing the competitive rivalry in the overall market.

RECENT MARKET DEVELOPMENTS:

In 2021, InSphero AG and ETH Bio Engineering Laboratory worked with InSphero's Akura Flow micro-physiological discovery platform to test single and multi-tissue applications.
In March 2020, the World Health Organization announced that Emulate, a biotechnology company in the United States, would provide lung-on-a-chip technology for hydroxychloroquine clinical trials. This led to the widespread use of hydroxychloroquine as a preventive measure for reducing COVID-19 infection among hospital and healthcare professionals. This step has generated substantial investment opportunities in the market.
In May 2018, AstraZeneca began work with Emulate to develop organ-on-a-chip in its labs. The main goal of the technology is to obtain new ways of studying physiology for various diseases.
In May 2019, CN BIO announced that it was working with AXT Pty. Ltd. to increase organ-on-chip products in Asia-Pacific countries such as the Southern Pacific, New Zealand, and Australia. In addition, later in 2020, CN Bio and the University of Melbourne collaborated to promote therapies using lung-on-a-chip technology for respiratory complications in patients who have recovered from COVID-19.

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