Organ on Chip Market by Type (Liver-on-a-chip, Kidney-on-a-chip, Lung-on-a-chip, Heart-on-a-chip, and others), Application (Drug Development, Disease Modelling, Molecular Biology, OOC, and R & D), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028

Global Organ on Chip Market Analysis

The global organ on chip market is predicted to garner $6, 97,654.30 thousand in the 2021–2028 timeframe, growing from $54,640.00 thousand in 2020 at a healthy CAGR of 37.60%.  

Market Synopsis

Strategic alliances among market players, along with growing demand for drug screening, are expected to accelerate the growth of the organ on chip market.

However, higher cost associated for development of the systems are some growth-restricting factors for the global organ on chip market.

According to the regional analysis, the Asia-pacific organ on chip market is anticipated to grow during the review period due to rising focus on research in the region on organ on chip technology.

Organ on Chip Overview

Organ on chip is a type of micro-scale system that is used in drug modelling and drug testing. Also, the system is used to control the behavior and movements of cells and materials by using membranes, chambers, channels etc.

Impact Analysis of COVID-19 on the Global Organ on Chip Market

The novel coronavirus pandemic’s devastating effect on several industries highlighted the importance of technology in the health sector. Therefore, organ on chip market is estimated to experience a high growth rate during the COVID-19 pandemic. The organ on chip technology is one of the most promising technologies when it comes to development of drugs and vaccines that are under clinical trials. Therefore, the importance of organ on chip technology has skyrocketed, thus driving the growth of the market.

In addition to this, many government and non-government organizations are coming forward to help societies to recover from the pandemic with their strategies. For instance, on March 2020, WHO (World Health Organization), announced that Emulate, a U.S. based biotechnology company, will provide lung-on-chip technology in clinical trials of hydroxychloroquine. The above stated elements show that the pandemic may generate huge investment opportunities in the market in the coming years.  

Increasing Demand for Animal Testing Alternatives for Drug Testing to Surge the Market Growth

The global organ on chip industry is witnessing massive growth mainly due to increasing demand for animal testing alternatives for drug testing because it offers potentially more ethical way of disease modelling. Also, it offers higher level of insights in terms of drug toxicity and efficacy. Moreover, organ on chip technology can reduce the cost of drug development, thus driving the adoption of organ on chip technology.

The emergence of organ on chip technology is already leading market players to innovate strategies to attract customers. For example, Emulate Inc., a U.S. based privately held company, in June 2019 and INTENZE Products, Inc., a U.S. based Tattoo ink company, are in collaboration, and the main aim of the company is to monitor the risk of ink tattoo with the help of organ on chip technology.  Such collaborations and strategies from market leaders are also predicted to drive the growth of the market.  

To know more about global organ on chip market drivers, get in touch with our analysts here.

Architectural Complexity in the Development of Chips to Restrain the Market Growth

Technical complexities in development of organ on chip and their cost may create a negative impact on the growth of the market during the forecast period.  

Growing Trends of Organ on Chip in Drug Screening to Create Massive Investment Opportunities

The global organ on chip market is growing at a very fast pace due to increasing trends of organ on chip for drug screening owing to its application in quick sample reviewing. Moreover, organ on chip technology is used in in-vitro analysis of biochemical and other types of metabolic & genetic activities of body cells in tissues. Furthermore, the companies involved in the global organ on chip market are following effective steps and strategies for launching of innovative products to grow in the market. For instance, in May 2018, AstraZeneca began its work with Emulate for developing organs on chips in their labs. Also, the main aim of the technology is to gain new ways to study the disease mechanisms. Such types of advancements in the market may lead to lucrative market opportunities in the market in the upcoming years.

To know more about global organ on chip market opportunities, get in touch with our analysts here.

Source: Research Dive Analysis

The heart-on-a-chip type sub-segment is predicted to have a dominating market share in the global market. The sub-segment is expected to register a revenue of $1,63,501.80 thousand during the forecast period. According to WHO, heart problems are the leading cause of death worldwide. Also, adoption of modern lifestyle increases the risk of cardiovascular diseases (CVD); therefore heart-on-chips have gained much popularity in the recent years. These factors and R&D may bolster the growth of segment during the forecast period. 

The kidney-on-a-chip type is anticipated to have the fastest market growth and it is predicted that the market shall generate a revenue of $1,36,090.70 thousand by 2028, growing from $9,909.20 thousand in 2020. The growth of the kidney-on-a-chip segment for the global organ on chip market is mainly attributed to increasing number of patients with kidney damage. Moreover, researchers are utilizing kidney on chip technology to monitor the progress of any drug associated with human kidney. Such key factors may have significant impact on market growth during the projected period.

Source: Research Dive Analysis

The disease modelling sub-segment of the global organ on chip market is projected to have the fastest growth and it is also projected to surpass $1,36,766.40 thousand by 2028, with an increase from $9,960.20 thousand in 2020. This growth in the market can be attributed to its application in the platforms such as protein-induced lung inflammation, type 2 diabetes, central nervous system disease, and pulmonary edema. All such elements may increase the demand for organ on chip technology for disease modelling and further surge the market growth.  

The drug development sub-segment is anticipated to have a dominating market share in the global market and register a revenue of $3,34,887.00 thousand during the analysis timeframe. Drug development is a time-consuming process and it takes years to develop a drug; in such cases, organ on chip might save years for enter into clinical trials. All such elements may create huge opportunities for the sub-segment throughout the forecast period.

Source: Research Dive Analysis

The Market for Organ on Chip in North America to be the Most Dominant

The organ on chip market in North America accounted $26,937.50 thousand in 2020 and is projected to register a revenue of $3,35,571.70 thousand by 2028. The extensive growth of the North America organ on chip market is mainly driven by innovative technological innovations and rising healthcare applications in this region with existence of top leading researchers and scientists augmenting the industry growth in the region. Moreover, the strong presence of leading organ on chip providers and manufacturers is fueling the market growth across the globe. These factors will ultimately drive the demand in the organ on chip market across the region.    

The Market for Organ on Chip in Europe to be the Fastest Growing

The share of Asia-Pacific organ on chip market is anticipated to grow at a CAGR of 38.70% by registering a revenue of $1,63,251.10 thousand by 2028. The growth shall be a result of increasing disposable income of the population along with supportive government funding in research institute for regenerative medicines will drive market in the region. Also, innovation in products, joint ventures, and private-public strategic alliances will spur the organ on chip market size in the foreseeable future. For instance, in May 2019, CN BIO, announced that they are in collaboration with AXT Pty. Ltd., and the main aim of this collaboration is to offer CN Bio’s innovative bioengineering products such as organ on chip products in the Asia-pacific region such as South Pacific, Australia, and New Zealand. All such factors will eventually foster the Asia-Pacific organ on chip market in the upcoming years.

Competitive Scenario in the Global Organ on Chip Market

Product launches and mergers & acquisitions are common strategies followed by major market players. 

Source: Research Dive Analysis

Some of the leading organ on chip market players are Emulate, Inc., Tara Biosystems, Inc., Nortis, CN Bio, MIMETAS, TissUse GmbH, Hesperos, Inc., Kirkstall, AxoSim Technologies LLC and Insphero AG.

Porter’s Five Forces Analysis for the Global Organ on Chip Market:

• Bargaining Power of Suppliers: The service suppliers of organ on chip market are high in number and are larger and more globalized. So, there will be less threat from the suppliers.
  Thus, the bargaining power of suppliers is low. 
• Bargaining Power of Buyers: Buyers demand for innovative and cost-effective organ on chip that can provide best services to the customers. Thus, many suppliers are offering best yet cost effective organ on chips. This gives the buyers the option to freely choose organ on chip that best fits their preference.
  Thus, the bargaining power of the buyers is high.
• Threat of New Entrants: Companies entering in the organ on chip market are adopting various innovations.  
  Thus, the threat of the new entrants is moderate.
• Threat of Substitutes: There are different types of organ on chip available for different diseases.
  Thus, the threat of substitutes is low.
• Competitive Rivalry in the Market: The competitive rivalry among industry leaders is rather intense, especially between the global players including Emulate, Inc. and CN Bio. These companies are launching their value-added services in the international market and strengthening the footprint worldwide.
  Therefore, competitive rivalry in the market is high.