Kenneth Research has released a report titled “Organs-on-ChipsMarket: Global Demand Analysis & Opportunity Outlook 2030” which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, along with the impact of COVID-19 and a detailed discussion on the latest trends and future opportunities that are associated with the growth of the market.
It is expected that by the end of 2030, 78 Million people would have dementia, according to the statistics by the World Health Organization (WHO). Moreover, this figure is projected to reach 139 Million by 2050.
The statistics portray the increasing prevalence of different types of chronic diseases worldwide, which is driving the need amongst the pharmaceutical organizations to develop advanced drugs for the treatment of the diseases. Organs-on-chips helps in the detection of species-specific toxicities, therefore allowing more accurate predictions of the effects of drugs on humans. Such a factor is anticipated to drive the growth of the global organs-on-chips market.
The global organs-on-chips market is anticipated to grow with a CAGR of 36.54% over the forecast period, i.e., 2021 – 2030. The market is estimated to garner a revenue of USD 772.72 Million by the end of 2030. Additionally, the market generated a revenue of USD 31.37 Million in the year 2020. The market is segmented by organ type into lung, intestine, kidney, brain, liver, and others. The lung segment, amongst all the other segments, is anticipated to garner the largest revenue of USD 178.79 Million by the end of 2030. Additionally, the segment generated a revenue of USD 7.71 Million.
By region, the global organs-on-chips market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa, out of which, the market in North America is anticipated to garner the largest revenue of USD 372.61 Million by the end of 2030. Additionally, the market in the region generated a revenue of USD 18.09 Million in the year 2020.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
However, the high cost of OOC devices, and the nascent stage of the technology are predicted to hinder the market growth in the coming years.
This report also provides the existing competitive scenario of some of the key players of the global organs-on-chips market, which includes company profiling of Emulate, Inc., CN Bio Innovations Limited, TissUse GmbH, InSphero AG, Elvesys, MesoBioTech, AxoSim, CHERRY BIOTECH, Nortis, Inc., BiomimX S.r.l., MIMETAS B.V., KYODO INTERNATIONAL INC., AGC Inc., and others.
The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Organs-on-Chips Market: Global Demand Analysis & Opportunity Outlook 2030”, analyses the overall global organs-on-chips industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global organs-on-chips market in the near future.
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