{"id":496343,"date":"2024-06-25T18:54:38","date_gmt":"2024-06-25T18:54:38","guid":{"rendered":"https:\/\/www.olympiajournal.com\/news\/story\/496343\/organonchip-market-worth-631073-thousand-marketsandmarkets.html"},"modified":"2024-06-25T18:54:38","modified_gmt":"2024-06-25T18:54:38","slug":"organonchip-market-worth-631073-thousand-marketsandmarkets","status":"publish","type":"post","link":"https:\/\/www.oklahomanews-online.com\/news\/story\/496343\/organonchip-market-worth-631073-thousand-marketsandmarkets.html","title":{"rendered":"Organ-on-Chip Market Worth $631,073 thousand | MarketsandMarkets\u2122"},"content":{"rendered":"
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\"Organ-on-Chip<\/a><\/div>\n
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This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, trends, opportunities, and challenges.<\/div>\n<\/div>\n<\/div>\n
Organ-on-Chip Market in terms of revenue was estimated to be worth $123,285 thousand in 2024 and is poised to reach $631,073 thousand by 2029, growing at a CAGR of 38.6% from 2024 to 2029 according to a new report by MarketsandMarkets\u2122<\/div>\n

Organ-on-Chip Market<\/a><\/strong> in terms of revenue was estimated to be worth $123,285 thousand in 2024 and is poised to reach $631,073 thousand by 2029, growing at a CAGR of 38.6% from 2024 to 2029 according to a new report by MarketsandMarkets™. Growth in the organ-on-chip market is mainly driven by factors such as growing emphasis on animal free drug testing, and an increase in the adoption of organ-on-chip technology by pharma and biotech companies for drug discovery and development. However, due to the limited scalability and low throughput of the current organ-on-chip technology, the use of this technology is restricted only to the pre-clinical drug development phase.<\/p>\n

Download an Illustrative overview: https:\/\/www.marketsandmarkets.com\/pdfdownloadNew.asp?id=144117291<\/a><\/strong><\/p>\n

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Disease-based model subsegment is the fastest-growing of the organ-on-chip market by model type<\/strong><\/p>\n

Among the model type subsegments, the market is segmented organ-based model and disease-based models. In 2023, the disease-based model segment accounted for the highest growth rate in the organ-on-chip market by model type. The high growth of this segment can be attributed to the growing adoption of disease-based models for progressing studies associated with several conditions along with an application of these models in personalized medicine development.<\/p>\n

Liver-on-chip is the fastest-growing segment of the organ-on-chip market by organ type<\/strong><\/p>\n

Among the organ type subsegment, the organ-on-chip market is segmented into liver, kidney, lung, heart, intestine and other organs. In 2023, liver-on-chip segment accounted for the fastest-growing market of the organ type segment of organ-on-chip market. The high growth of this market segment can be attributed to the growing focus on animal-free drug discovery and development methods and increasing preclinical research to evaluate drug hepatotoxicity<\/p>\n

Europe: The second-largest region in the organ-on-chip market.<\/strong><\/p>\n

The European market is the second-largest organ-on-chip market globally, mainly due to factors such as advancements in biofabrication technology and use of artificial intelligence in drug discovery and testing. The increased collaboration and partnership between private companies and government institutes along with increased awareness of the organ-on-chip technology are other important factors responsible for the size of the market.<\/p>\n

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Organ-on-Chip Market<\/strong> Dynamics:<\/strong><\/p>\n

Drivers:<\/strong><\/p>\n

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  1. Increasing demand for animal-free testing<\/li>\n
  2. Ethical concerns regarding use of animal models in drug development<\/li>\n
  3. Growing drug discovery & development initiatives<\/li>\n
  4. Development of personalized medicines<\/li>\n
  5. Advancements in microfluidics and bioengineering<\/li>\n
  6. Increased government and private funding<\/li>\n
  7. Greater adoption of OOC technology by pharma & biotech companies<\/li>\n<\/ol>\n

    Restraints:<\/strong><\/p>\n

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    1. Limitation of use restricted to preclinical trials<\/li>\n
    2. Limited scalability and throughput<\/li>\n<\/ol>\n

      Opportunities:<\/strong><\/p>\n

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      1. Development of human-on-a-chip models<\/li>\n
      2. Increasing applications in diverse industries<\/li>\n
      3. Developing hybrid business model providing both products and services<\/li>\n<\/ol>\n

        Challenge:<\/strong><\/p>\n

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        1. Lack of standardization<\/li>\n
        2. Mimicking complex tissues and organs<\/li>\n<\/ol>\n

          Key Market Players of <\/strong>Organ-on-Chip Industry<\/strong>:<\/strong><\/p>\n

          Prominent players in the organ-on-chip market of Europe are MIMETAS B.V. (Netherlands), TissUse GmBH (Germany), Netri (France), Emulate, Inc. (US), CN Bio Innovations Ltd (UK), Insphero AG (Switzerland), SynVivo, Inc. (US), Nortis, Inc. (US), AxoSim, Inc. (US), Dynamic42 GmBH (Germany), React4Life (Italy), Obatala Sciences (US),  AlveoliX AG (Switzerland), BeOnChip S.L. (Spain), Initio Cell (Netherlands), Netri SAS (France), Hesperos, Inc. (US), Lena Biosciences (US), RevivoCell (UK), Altis Biosystems (US), Bi\/ond (Netherlands), Biomimx S.R.L (Italy), Cherry Biotech (France), Fluigent (France), Elvesys (France)<\/p>\n

          The primary interviews conducted for this report can be categorized as follows:<\/strong><\/p>\n