DUBLIN--(BUSINESS WIRE)--The "Organ-On-Chip (OOC) Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global OOC market reached a value of nearly $50.8 million in 2020, having increased at a compound annual growth rate (CAGR) of 59.5% since 2015.
The market is expected to grow from $50.8 million in 2020 to $177.8 million in 2025 at a rate of 28.5%. The market is then expected to grow at a CAGR of 14.6% from 2025 and reach $350.8 million in 2030.
Growth in the historic period resulted from increased demand for personalized medicine, the growing need to minimize financial losses due to late-stage drug failure, and substantial funding of public and private sources for OOC start-ups and research groups. Factors that negatively affected growth in the historic period were the high costs associated with OOCs, the limitations of polydimethylsiloxane (PDMS), the most commonly used substrate material for the fabrication of OOCs and lack of skilled resources for the development of the OOC technology.
Going forward, the adoption of OOC technology by major pharmaceutical companies such as Roche and AstraZeneca among many others, increasing drug repurposing approaches in the OOC industry, and rising healthcare expenditure will drive growth in the forecast period.
Factors that could hinder the growth of the OOC market in the future include compatibility problems that may occur due to the lack of standardization, OOCs are not high throughput to conduct multiple assays, cell survivability issues, the COVID-19 pandemic, and resistance in the adoption and regulation of new medical options can negatively impact the market growth.
The OOC market is segmented by organ type into multi-organs-on-chip, lung-on-chip, heart-on-chip, liver-on-chip, intestine-on-chip, kidney-on-chip, skin-on-chip, blood-brain-barrier-on-chip, and other organ models. The other organ model segment was the largest segment of the OOC market segment by organ, accounting for 14.6% of the total in 2020. Going forward, the heart-on-chip segment is expected to be the fastest-growing segment at a CAGR of 32.6% during 2020-2025.
The OOC market is also segmented by application into toxicology research, drug discovery, molecular biology, disease modelling, food safety, and other applications. The toxicology research segment was the largest segment of the OOC market by application, accounting for 30.4% of the total in 2020. Going forward, the drug discovery segment is expected to be the fastest-growing segment at a CAGR of 30.2% during 2020-2025.
The OOC market is also segmented by end-users into biopharmaceutical companies, academics, food & beverages and other commercial industries. The biopharmaceutical companies' segment was the largest segment of the OOC market by end-users, accounting for 54.4% of the total in 2020. Going forward, the biopharmaceutical companies is expected to be the fastest-growing segment at a CAGR of 29.5% during 2020-2025.
The OOC market is also segmented by product & services into device and testing services. The testing segment was the largest segment of the OOC market by product & services, accounting for 57.6% of the total in 2020. Going forward, the device segment is expected to be the fastest-growing segment at a CAGR of 30.7% during 2020-2025.
The OOC market is also segmented by type of material into polymer, PDMS, glass, and silicon. The polymer segment was the largest segment of OOC market by type, accounting for 57.1% of the total in 2020. Going forward, the silicon segment is expected to be the fastest growing segment at a CAGR of 89.9% during 2020-2025.
North America was the largest market for OOC, accounting for 55.7% of the global market in 2020. It was followed by Europe, Asia and then rest of the world. Going forward, Asia and Rest of the world will be the fastest growing regions in the OOC market, where growth will be at CAGRs of 34.1% and 33.0% respectively during 2020-2025. These will be followed by Europe and North America where the markets are expected to grow at CAGRs of 28.5% and 26.9% respectively.
The global OOC market is relatively concentrated with small number of players. The market is attractive to new market entrants who are able to see a clear route into the market which is not dominated by controlling companies; this is especially true of this market which is run by university off-spins and smaller research labs.
The top ten competitors in the market made up to 82.83% of the total market in 2020. Major players in the market include Emulate Inc., AxoSim Inc., Mimetas BV, TissUse GmbH, Nortis Inc., and Kirkstall.
To take advantage of the opportunities, the report recommends that OOC companies consider developing human-on-chip models that will reduce the need of animal testing, focus on R&D to develop disease models for liver, lungs, hearts, and other organs, focus on pricing based on economies, use Direct-To-Consumer (DTC) advertising, and collaborate with pharmaceutical companies.
Organ-On-Chip (OOC) Market Trends And Strategies
- Big data For Organs-On-Chips
- Developments In The Testing Of Human Organs-On-Chips
- Organ-On-Chip Technology In Space
- Automated Monitoring Of Organs-On-Chips
- Artificial Intelligence Integrated With Organs-On-Chip
- 3D Printing Of Organs-On Chips
- Investment In Integration Of Individual Organs-On-Chips Into Humans-On-Chips
- Integration Of Various Technology On The Same Chip
- Strong Focus On Development Of Custom Organs-On-Chips
- Manufacturers Work On Disease Models To Expedite Drug Testing
- Rise In The Collaborations Between Organs-On-Chips Manufacturers And Pharmaceutical Companies
- Increase In Funding To Develop The Organ-On-Chip Platform
- Increase In Collaborations And Strategic Partnerships
Market Drivers
- Increasing Demand For Personalized Medicine
- Improved Monitoring
- Growing Need To Minimize Financial Losses Due To Late Stage Drug Failure
- Substantial Funding Of Public And Private Sources For OOC Start-Ups And Research Groups
- Increasing Drug Repurposing Approaches
- Adoption Of OOC Technology By Major Pharmaceutical Companies
- Early Detection Of Drug Toxicity And Recovery
- Rising Healthcare Expenditure
Market Restraints
- High-Costs Associated With OOCs
- COVID-19 Pandemic
- Compatibility Problems May Occur Due To The Lack Of Standardization
- Limitations Of Polydimethylsiloxane (PDMS), The Most Commonly Used Substrate Material For The Fabrication Of OOCs
- Resistance In The Adoption And Regulation Of New Medical Options
- Need For Skilled Resources For The Development Of OOC Technology
- OOCs Are Not High Throughput To Conduct Multiple Assays
- Cell Survivability Issues Can Negatively Impact The Market Growth
- Complication Or Increased Difficulty In Accessing Certain Organs
Companies Mentioned
- Emulate Inc.
- Mimetas BV
- AxoSim Inc.
- Nortis Inc.
- TissUse GmbH
For more information about this report visit https://www.researchandmarkets.com/r/3aqp54
