February 26, 2024

Organ On A Chip Market is Expected to be Flourished by Rising Biotechnology Investments

Organ-on-a-chip refers to multi-cellular 3D microfluidic cell culture devices that mimic key aspects of human organs and organ systems. They utilize microfabrication techniques to develop heterogeneous, multi-cellular 3D constructs on a microfluidic chip. This technology integrates microfluidic engineering, cell biology, and microfabrication techniques to develop devices containing living cells cultured in a protected environment that closely mimics their natural biophysical and biochemical environment in vivo. For instance, organ-on-chip models simulate lung alveoli, gut villi, blood-brain barrier, and the like to study various functioning aspects. Growing bio-technology investments from governments and private players to develop alternatives to animal testing models to comply with regulations are expected to drive the market.

The global Organ On A Chip Market is estimated to be valued at US$ 228.24 million in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Growing bio-technology investments from governments and private players and rising preference for organ-on-chip models over animal testing models are expected to drive the market over the forecast period. For instance, in August 2021, the U.S. National Institutes of Health invested US$ 17 million to develop multi-organ microchips that mimic human physiology and disease. Additionally, increasing number of new product launches by key players will further boost the organ-on-a-chip market growth. For instance, in November 2021, Tara Biosystems unveiled new heart-on-a-chip platforms and services including disease models, drug screening services, and preclinical efficacy testing. Thereby, rapid technological advancements to develop human-relevant disease and toxicity testing models will continue to offer lucrative growth opportunities for market players operating in the organ-on-a-chip market.

Segment Analysis
The organ on a chip market can be segmented into organ type and application. Based on organ type, the lung on a chip segment dominates with over 35% share as lungs are highly prone to infections and diseases. Lung on a chips closely mimic human lung alveoli and breathing motions helping researchers study physiological response and effects of potential drug treatments.

PEST Analysis
Political: Regulatory guidelines promoting alternatives to animal testing are driving demand.For example, the EU ban on animal testing of cosmetics in 2013 increased focus on developing human tissue-based models.

Economic: Individual organ chip models cost $20,000-50,000 while complete multi-organ platforms range from $200,000-$500,000.However, they reduce drug development costs by early failure identification and improving predictive capabilities.

Social: Growing awareness about alternatives to animal testing is increasing funding support for developing organ on chips from organizations like the National Institutes of Health.

Technological: Advancements enable developed of tissue-engineered 3D microfluidic cell culture chips that better recapitulate human physiology using microsensors, microvalves and micropumps.This is improving the ability to replicate diseases and toxicity responses.

Key Takeaways
The Global Organ On A Chip Market Size is expected to witness high growth over the forecast period supported by increased R&D investments from pharmaceutical companies. The global Organ On A Chip Market is estimated to be valued at US$ 228.24 million in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030.

The North American region currently dominates due to presence of key players and government funding but Asia Pacific is expected to witness fastest growth during the forecast period supported by emerging technological capabilities and increasing government focus on developing alternatives to animal testing.

Key players operating in the organ on a chip market include Emulate, Inc, CN Bio Innovations, TissUse GmbH, MIMETAS, Hurel Corporation, Insphero AG, Ascendance Bio, Kirkstall, AxoSim and Nortis Bio. Major players are focusing on partnerships and collaborations with pharmaceutical companies and research organizations to increase commercialization of their organ chip platforms for applications ranging from basic research to predictive drug screening and toxicity testing.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it