Organ-on-a-chip Market - Global Industry Insights, Trends and Opportunity Analysis -2024

Organ-on-a-chip Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2016-2024

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Report Description Introduction Organ on a chip is gaining prominence on the backdrop of regulatory measures on animal testing and growing complexity in therapeutic applications. As such many players are trying to capitalize the market with organ on a chip devices. It is a unique cell culture process wherein biomimetric microsystem is used as a platform.

These devices are built on silicone which can grow internal organs. This will not only in organ transplantation but also therapeutic applications. Currently, Harvard’s Wyss Institute is engaged on lungon-chip production – commercialization of it will help in exponential growth of the organ on a chip market.

Moreover, partnership with biotech and pharmaceutical companies with universities is expected to scale up the commercialization process in near future. This billion dollar industry is expected to create significant market opportunities for the players. Some companies such as Mimetas is working on Kidney-on—a-chip market. As this unique technology greatly reduces the amount of testing done on animals with higher accuracy results - many players are venturing in this industry sector.

Ask for FREE SAMPLE REPORT @ https://www.coherentmarketinsights.com/insight/requestsample/49 Market Dynamics Organ on a chip is expected to cater to wide range of applications ranging from disease modelling to patient stratification and phenotypic screening. Most of the demand is expected to generate from lung based organ culture followed by Kidney application. The technology offers better clinical examinations compared to petri dishes and animal testing – helping scientist and companies to better understand the inner organ functionalities such as brain and lung.

Funding and government initiation could further boost the market. Though the market is expected to create substantial opportunities, high cost and early stage in R&D are some of the factors leading to staggering growth of the market. Market is expected to commercialize after 2020.

Regional Analysis North America and Europe are expected to dominate the overall organ on a chip market throughout the forecast period. The regions are early adopters of newly developed technology. Moreover, demand is expected to be further propelled by large consumer base. North America spends over 16% of its GDP on healthcare expenditure. Moreover, many research activities are carried out in the region with presence of some of the leading players. Also, organ transplant rate is high in the region. Europe is expected to be primarily driven by Germany and UK and France.

Get More Details About This Report @ https://www.coherentmarketinsights.com/ongoinginsight/organ-on-a-chip-market-49 Asia Pacific is a lucrative market for companies engaged in organ on a chip market. However, commercialization is not expected to take place in early years. As market is still in its early stage, it will

take few years before companies can expect return on profit. Japan and china are key markets in Asia Pacific. These regions account for over half of the pharmaceutical market in Asia Pacific. Also, these countries are well equipped with high volume medical devices and research centers.

Company Analysis Organovo, Hepregen, Hurel Corporation, Nortis, TissUse, Tara Biosystems, and AxoSim are some of the players engaged in organ on a chip market. These companies are located in North America. Most of them are start-ups. However, are heavily funded and expected to commercialize the market in near future.

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