Dublin, May 14, 2020 (GLOBE NEWSWIRE) -- The "Organ-on-a-Chip Global Market - Forecast To 2026" report has been added to ResearchAndMarkets.com's offering.

Organ-on-a-Chip is gaining popularity as they are rendered crucial for prognosis and monitor disease progression; personalized medicine along with playing a vital role in discovery and development of target molecules and drug toxicity testing also to cut cost and time of drug development.

According to analysis, the Organ-on-a-Chip global market is estimated to reach $193,316.9 thousand by 2026 growing at a very high double-digit CAGR from 2019 to 2026. The Organ-on-a-Chip market is classified into product, application, material type, end-user, and geography.

The factors driving the market are rising use of organ-on-a-chip in early detection of drug toxicity, increasing demand for personalized medicine, the emergence of OOC as an alternative to animal testing, the significant increase in research funding and venture capital investments for the development of different types of organ-on-a-chips, whereas, factors such as technical uncertainty within the pharma companies, the lack of scaling and standardization, biological and technical challenges involved are restraining the market growth.

Market Segment Insights

The Organ-on-a-Chip product market is further classified into chips & services. The services segment accounted for the largest revenue in 2019. The Chips market is further segmented into liver, lung, kidney, tumor, multiple-organ-on-a-chip, and others. Among these, liver-on-a-chip accounted for the largest revenue in 2019 and is expected to grow at a strong double-digit CAGR from 2019 to 2026. The factors driving the market are increasing use of Liver-on-a-chip in drug discovery as a disease model (NASH) and also in toxicity screening of drugs, cosmetics, environmental pollutants, etc.

The growth is also attributed to the increased interest shown by regulatory agencies, by the top pharma companies, other government organizations and venture capitalists for the development of the technology, whereas, factors such as lack of scaling and standards, the uncertainty of how regulatory bodies will adapt to technological changes, as OOC is in its infancy stage, they are still not efficient to replace the current methods followed, but, are used as an additional test for accuracy, complexity in the establishment of organ models, challenge to explore sample associated data requirement of ethical clarity, need for the establishment of well understood single mixed-cell models using universal media combined with the flow and supporting matrix are restraining the market growth.

Based on the application, the market is segmented into drug discovery, toxicity screening, and personalized medicine. Among this toxicity, screening accounted for the largest revenue of in 2019 and is expected to grow at a high double-digit CAGR from 2019 to 2026 due to increased failure of drugs due to their toxicity had lead to the accelerated use of organ-on-a-chip involving human-derived cells to check their toxic effects. Further engagement of various chips in environmental toxicity testing, cosmetic toxicity is driving the growth of the market.

The market by material type is segmented into PDMS, polymers, glass, and silicon, among these, polymers commanded the largest revenue in 2019 and is expected to grow at a high double-digit CAGR from 2019 to 2026. Factors such as ease of access and inexpensiveness, optically transparent, biocompatible, inert, rigidity are the factors favoring their usage. The silicon segment is expected to grow at a strong CAGR from 2019 to 2026.

Based on End-User, the market is segmented into Pharma & Biotech, Academic & research institutes, and other industries. Among the end-users, Pharma & Biotech accounted for the largest revenue in 2019 growing at a strong double-digit CAGR from 2019 to 2026 due to extended research and development activities in biologics, drug development, and manufacturing.

Based on geography, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the world. Among these, the North American region dominated the Organ-On-A-Chip accounted for the largest revenue in 2019 growing at a high double-digit CAGR from 2019 to 2026. This is due to the accelerated technological advancements in analytical and informatics field, presence of major players, increased funding from both private and government agencies, growing awareness about benefits of Organ-On-A-Chip in development of personalized medicine, presence of advanced research institutes with specialized technologies, pharma biotech companies, government & private agencies concentrating on accelerating Organ-on-a-Chip research. The Asia-Pacific region is the fastest-growing region with a strong CAGR from 2019 to 2026. This might be attributed to increasing government funding towards Organ-on-a-Chip research, and the emergence of this region as the manufacturing hub for biologics drugs.

Some of the companies are coming up with new technological advancements to maintain their leadership status in the Organ-on-a-Chip, for example, Mimetas BV launched assay ready product line: OrganoPlate Caco-2 which serves customer to receive a fully quality-controlled, ready-to-use tissue model to ADME, safety-, toxicology- and mechanistic studies for drug development, but also in the food and dairy industry.

The key players in Organ-on-a-Chip Global Market include Mimetas BV (The Netherlands), Emulate, Inc. (U.S), TissUse GmbH (Germany), Hesperos, Inc. (U.S.), Insphero AG. (Switzerland), CN Bio Innovations Ltd (U.K.), Nortis Inc ( U.S.), AlveoliX AG (Switzerland), Organovo Holdings, Inc. (U.S.) and others.

Drivers and Opportunities

Restraints and Threats

Companies Mentioned (A-Z)

For more information about this report visit https://www.researchandmarkets.com/r/y1reei

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