Organ on chip are also known as organ models which can mimic
functions and mechanical properties of human organs. The micro fluidic devices
involve engineering and cell culture techniques that allow recreating organ and
body functions on a microchip. These chips are finding increasing application
in drug development, disease modelling and basic research which does not
require animal testing and scarce human organs.
The global
Organ On A Chip Market is estimated to be valued at US$ 228.24 Mn 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 key trends:
Increased organ diseases treatment: With increasing prevalence of organ
diseases such as liver diseases, kidney failure and others, the demand for
organ on chip is expected to surge over the coming years. As per the latest
data, over 800,000 patients are currently on waiting lists for organ transplant
globally. Organ on chip provides effective alternative for developing new
treatment protocols and testing drug safety & efficacy without human or
animal testing. The advantages of organ on chip models over traditional cell
cultures and animal models have accelerated their adoption in pharmaceutical
and biotechnology industries. This is expected to drive the organ on chip
market significantly during the forecast period.
SWOT Analysis
Strength: Organ on chip technology helps researchers perform tests that were
previously impossible without using live animals. It reduces costs as compared
to traditional animal testing methods.
Weakness: Developing sophisticated Organ on Chips is technically challenging
and requires multidisciplinary expertise. Commercialization of this technology
still has regulatory hurdles.
Opportunity: The technology allows testing of new drug candidates and their
effects at organ, tissue as well as cellular level before clinical trials. This
helps in enhancing drug development process. Growing pharmaceutical industry
presents an opportunity for organ on chip market.
Threats: Traditional 2D cell culture methods are still widely used in research
and pose competition. Lack of standardization in organ on chip design and
functionality can limit broader applications.
Key Takeaways
The Global
Organ On Chip Market Size is expected to witness high growth in the
forecast period owing to its potential to transform drug discovery and development
process. The global Organ On A Chip Market is estimated to be valued at US$
228.24 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast
period 2023 to 2030.
North America is currently the largest and fastest growing
regional market primarily due to heavy investments in research activities from
government as well as private organizations in the region. The increasing focus
on developing alternative methods to animal testing also supports growth of the
organ on chip market in North America.
Key players operating in the organ on chip market are Ball Corporation, Crown
Holdings, Inc., Trivium Packaging B.V., Mauser Packaging Solutions, and CCL
Containers. These companies are focused on developing multi-organ chips with
standardized design and interface to make organ on chip technology commercially
viable on a larger scale. Partnerships with pharmaceutical companies ensure
continued funding for research as well as real-world testing of organ chip
models.
Get more insights on this topic:
https://www.rapidwebwire.com/organ-on-a-chip-market-demand/
Explore more trending article:
https://craftercampaigns.blogspot.com/2024/01/the-organ-on-chip-market-is-driven-by.html
Check below trending articles:
http://medinstech.weebly.com/blog/the-organ-on-a-chip-market-is-driven-by-rise-in-investments-for-rd-activities
Comments
0 comment