Prominent Use of the Technology for Drug Testing and Quick Sample Review is Predicted to Assist in the Growth of the Global Organ On Chip Market

Organ on chip is a type of technology that is utilized as a micro scale. It’s majorly used in the process of testing of drugs and in modelling the drugs as well. The organ on chip is also used to alter the behaviour of cells and uses chambers and channels to initiate this.

Covid-19 Impact on the Global Organ On Chip Market

With the COVID-19 virus impacting the world negatively, it also brought forth the significance of the medical sector. The organ on chip market in this duration witnessed a significant growth as this technology was used immensely as it provided the appropriate results with regard to drugs, vaccines and other medications. The clinical trials usually utilize the on chip technology to test for toxicity levels of the vaccine. This requirement increased instantly during the pandemic as there was an urgent requirement of vaccines in bulk amounts.

To add further, multiple government and non-government organizations worked on re-establishing some normalcy in the society. They have been constantly putting in efforts to ensure that the people are able to recover from the virus and its effects. These factors have been a reason for the growth of the global organ on chip market.

Key Developments in the Industry

Several industries are working on building up their presence in the market while also involving in research which is a part of the efforts. The innovative methodologies by organizations of creating better products are also used, keeping in mind satisfaction of customers or companies in terms of quality.

For instance in March 2020, MIMETAS, a pioneer in biotechnology known for the production of products related to drug development, declared the launch of a new variant in the Assay Ready Product Line. The product known as OrganiReady*Caco-2 has been developed after forming 38 intestinal tubules within it fitted against an extracellular matrix. This variant can be used for different purposes such as development and testing of drugs, toxicology studies and more. The readymade assay can also be used not just by the medical sector, but by the food and dairy sectors as well to ensure that their health claims are valid.  

Forecast Analysis of the Global Organ On Chip Market

According to the latest report published by Research Dive, the global organ on chip market is predicted to witness a rise in revenue from $54,640.00 million in 2020 to a tremendous $6,97,654.30 million by 2028 at a steady CAGR of 37.60% from 2021-2028.

The organ on chip technology has become an essential within the healthcare industry as it is used extensively to ensure the safety levels and toxicity of drugs and vaccines. It is also a more ethical way of drug testing and has been experiencing a lot of advancements. Additionally, this method of drug testing ensures that the cost of development goes down which is an advantage for drug production companies. To add further, several companies have been working on developing the technology further by taking part in partnerships and alliances with other industry experts. These features are expected boost the growth rate of the market.

On the flipside, the production process of organ on chip technology is intricate and challenging. To add further the cost of production is also another factor that has been working as a hindrance for market growth.

But, in a lot of cases organ on chip is the kid of technology that has multiple used to its credit which is one of the primary reasons for its use by the medical department. The organ on chip works on processes such as quicker reviews of samples, in-vitro analysis of biochemical and more. The fact that it is used not only by the healthcare sector but within the food industry as well is one of the redeeming factors for the market. To add further, rapid advancements in the organ on chip market, new and revolutionary products, and initiatives by experts of the industry have further provided a pathway towards growth for the market.

Moreover many key players such as Emulate, Inc, Nortis, MIMETAS, Hesperos, Inc, AxoSim Technologies, Tara Biosystems, Inc, CN Bio, TissUse GmbH, Kirkstall, and Insphero AG have been working on implementing advanced techniques to work on new products, mergers, and other initiatives to help in the growth of the market.