“Latest Market Overview for Organs-on-chips Market Research Report 2018-2023 with CAGR 30%
Global Organs-on-chips Market Report 2018 provides actionable intelligence on factors that have been driving demand; key trends that are impacting the Organs-on-chips market; challenges that affect the market dynamics along with the market size, a SWOT analysis of the key vendors, and various segments.
Competitor Analysis: by product types, market share, applications, sales, and revenue.
- AxoSim Inc.
- Emulate Inc.
- Hurel Corporation
- InSphero AG
- Mimetas BV
- Nortis Inc.
- Tara Biosystems
- and TissUse GmbH
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Description of Organs-on-chips Market: Market Overview
The organs-on-chips market is projected to witness a CAGR of more than 30% during the forecast period (2018-2023). An organ-on-chip (OOC) is also called a multi-channel 3-D microfluidic cell culture chip. It is a type of artificial organ that stimulates the activity, mechanics, and physiological response of entire organs and organ systems. The size of an OOC is about that of an AA battery and its transparency allows to see the organ’s functionality, behavior, and response, at the cellular and molecular levels.
Requirement of Alternatives for Animal Testing
A huge amount is spent on animal research and leads to numerous animal losing their lives, and these clinical trials often fail to predict human responses, as traditional animal models often do not accurately mimic human pathophysiology. Experiments on the animal are always considered cruel, expensive, and generally inapplicable to humans. According to animal welfare act (AWA) regulations, 2009, around 1,131,076 animals were used, which excludes birds, mice of the genus Mus, and rats of the genus Rattusbred for use in research. According to the US Department of Agriculture in 2015, it was estimated that around 750,000 animals were used in or held for experiments, nationwide. In Canada, in 2015, more than 3.5 million animals were used in experiments, and in the European Union, in 2011, around 11.5 million animals, including mice, rats, and fish, were used in the experiments. As per an article “Alternatives to animal testing: current status and future perspectives”, 2011, the percentage of animals that were used in basic science was 33%, research and development was 31%, and production and quality control for medical products, substances, or devices was 15%. A total of around 51% of animal studies were used for testing medical products, substances, or devices. The animals are mostly used for the evaluation of products or substances such as animal feed, foods, cosmetics, chemicals and pesticides, and household items. Around 57% of the total animal studies are related to animal and human diseases. The usage of animals has increased year-on-year, this is mostly related to the increased number of the toxicology studies. Most of the research studies suggest that the reliability, accuracy, and relevance of their results are questionable and subject to vastly differing interpretations. With opposition from animal protection acts and international organizations on the usage of the animals, it has become crucial to look for alternatives to animal testing. OOC is one of the most effective alternatives, and hence, is expected to be a better replacement for animal testing in the future, leading to the growth of the market.
Other factors, such as the need for early detection of drug toxicity, new products launches, and advancements in technology are additionally helping in propelling market growth.
The complexity of Organs-on-Chips Models
Although OOCs is considered to be a promising technology, creating an OOC is a difficult process. The major challenge is that of reproducing the architectural complexity of the human tissues and organs in vitro in a miniaturized fashion and arranging them in interconnected systems to recapitulate human tissue/organ interactions. The behaviors of the OOC and interpretation of the results are some other challenges faced. However, scientists are working to incorporate various sensors into standalone OOC systems. This is expected to help in monitoring various behaviors, such as pH, oxygen, and temperature. With the increasing complexity of OOC models, the price of the system also increases, thus becoming a restraint for its adoption over existing technologies. Another factor that rises with the complexity of the models is the requirement of skilled professionals needed to understand and analyze data from the OOC. However, as the technology is recently developed, not many have experience handling OOCs. The lack of the skilled professionals is another main restraint to the growth of the market.
North America to Dominate the Market
The organs-on-chips market has been segmented into five major regions, viz., North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Driven by the developed market of the United States, North America dominated the organs-on-chips market in 2017, due to factors such as support from government bodies and advantages of OOCs. Furthermore, with the increasing use of animals and R&D costs, the governments, as well as companies, are looking for alternative techniques, such as OOC, for drug discovery and toxicological studies.
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The Global demand for Organs-on-chips Market is forecast to report strong development driven by consumption in major evolving markets. More growth opportunities to come up between 2018 and 2025 compared to a few years ago, signifying the rapid pace of change.
Following market aspects are enfolded in Global Organs-on-chips Market Report:
- A wide summarization of the Global Organs-on-chips Market.
- The present and forecasted regional market size data based on applications, types, and regions.
- Market trends, drivers and challenges for the Global Organs-on-chips Market.
- Analysis of company profiles of Top major players functioning in the market.
Organs-on-chips Market report passes on a fundamental overview of the Market including its definition, applications, and advancement. Furthermore, the Industry report investigates the ecumenical Major Organs-on-chips Market players in detail. Organs-on-chips Market report gives key bits of Cautiousness and subsisting status of the Players and is a basic Source obviously and heading for Companies and people energized by the Industry.
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Which are the important factors that are mentioned in the Organs-on-chips Market report 2023?
- Key Market Dynamics: The Global Organs-on-chips Market research report provides complete forecasts on the latest market trends, development methods, and research methodologies. Some of the factors that are directly in affecting the market including the Strategic Production and Methods, development platforms, and the product model itself, and even a minute change within the product profile would result in huge amount of changes within the mentioned factors. All of these factors are explained in detail in the research study.
- Major Growth Prospects:The report also focuses on some of the Key growth prediction, including new product launches, Mergers and Acquisitions, Research and Development, joint ventures, collaborations, agreements, partnerships, and growth of the key Manufacturers working effectively in the market, both in terms of regional and global scale depending on geography.
- Key Market Highlights: The report gives us an in-depth Market analysis on some of the Organs-on-chips Market key factors, including revenue, cost, capacity, capacity utilization rate, production, production rate, consumption, supply, demand, Market share, CAGR, and gross margin. Additionally, the report presents a comprehensive study of the market growth factors and their latest trends, along with related Market sections and subsections.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Organs-on-chips Market of many Organs-on-chips Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
Conclusively, this report will provide you a clear view of each fact of the market without a need to refer to any other research report or a data source. Our report will provide you with all the facts about the past, present, and future of the concerned Market.