🚀 Exciting Growth Ahead for the Organ-On-Chip Market! 🌍

Posted by snehal shaha on May 22nd, 2024

According to a new report by MarketsandMarkets™, the Organ-On-Chip Market is set to skyrocket from USD 123,285 thousand in 2024 to USD 631,073 thousand by 2029, growing at an impressive CAGR of 38.6%!

📊 Key Insights:

• Market Size: The market is projected to grow significantly by 2029.
• Organ Types Covered: Liver, Kidney, Intestine, Lung, Heart, and more.
• Products & Services: Includes Instruments, Consumables, Software, and Standard & Custom Services.
• Applications: Focus on Toxicology, Drug Discovery, and Stem Cell Research.

📘 Explore the Full Report: Download PDF Brochure

📈 Comprehensive Data:

• 396 Market Data Tables
• 38 Figures
• 353 Pages of In-depth Analysis

Top Players in the Market:

• MIMETAS B.V. (Netherlands)
• TissUse GmbH (Germany)
• Netri (France)
• Emulate, Inc. (US)
• CN Bio Innovations Ltd (UK)
• Insphero AG (Switzerland)
• SynVivo, Inc. (US)

🔗 Strategies for Growth:

• Mergers & Acquisitions
• Investments & Expansions
• Partnerships & Collaborations
• New Product Developments

Market Segmentation Highlights:

• Model Types: Organ-based and Disease-based models, with the latter showing the highest growth in 2023.
• Organ Types: Liver-on-chip leads the market growth due to its focus on animal-free drug discovery and preclinical research.
• Geographical Insights: Europe stands as the second-largest market, driven by advancements in biofabrication technology and AI in drug discovery.

Recent Industry Developments:

• September 2023: CN Bio Innovations Ltd (UK) partners with LifeNet Health LifeSciences (US) to provide validated human cells for CN Bio's systems.
• June 2023: TissUse GmbH (Germany) collaborates with PMI (US) to combine PMI's InHALES technology with TissUse's Multi-Organ-Chip (MOC) platform.

Market Drivers:

• Increasing government initiatives to reduce animal testing
• Advancements in biofabrication technologies
• Growing acceptance of organ-on-chip technology in pharma and biotech industries

Challenges:

• Technical complexities of organ-on-chip models
• Low throughput of current technologies

Stay ahead of the curve with these exciting developments in the Organ-On-Chip market! 🚀📊