Organ on a chip is a novel biomimetic method used for developing miniaturized microfluidic cell and tissue culture devices that mimic the activities, mechanics and physiological response of entire organs and organ systems. Organ on a chips are used in extensive drug development and toxicity screening processes allowing rapid evaluation of drug safety and efficacy. Organs on chips have the potential to replace the need of animal testing and reduce the costs associated with drug development. They provide a human-relevant test system to study human disease models and evaluate responses to therapeutic intervention. These chips contain living cells on a microfluidic chip mounted either within a fluidic microenvironment or on a porous membrane allowing for diffusion of nutrients and oxygen. They closely imitate the activities and responses of living 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:
One of the prominent trends in the Organ on Chip Market is increasing government initiatives and funding. Various governments across the globe are undertaking large initiatives to promote organ on chip technology by providing funding. For instance, in 2020, the U.S. National Institutes of Health funded the Human BioMolecular Atlas Program (HuBMAP) with US $115 million over five years to support the development and application of organ chip technologies across 13 human tissue and organ systems. Such large funding is expected to boost research activities in organ on chip systems development and commercialization.
Porter’s Analysis
Threat of new entrants: The organ on a chip market requires stringent regulations and substantial infrastructure investment which poses high entry barriers for new players.
Bargaining power of buyers: The buyers have moderate bargaining power due to the specialized nature and differentiated offerings from existing manufacturers.
Bargaining power of suppliers: The suppliers have low to moderate bargaining power as there are many component suppliers and raw material producers in this market.
Threat of new substitutes: There is a low threat from new substitutes due to the unique value proposition of organ on a chip technology that cannot be replicated easily.
Competitive rivalry: The organ on a chip market has medium to high competition among the major players to gain higher market share.
Key Takeaways
The Global Organ On A Chip Market Size is expected to witness high growth over the forecast period. The global organ on a chip market is estimated to be valued at US$ 228.24 Mn in 2023 and is expected to exhibit a CAGR of 3.1% over the forecast period 2023 to 2030.
Regional analysis: North America dominates the global organ on a chip market currently owing to high research funding and presence of key players in the US. Asia Pacific is expected to grow at the fastest pace during the forecast period with increasing government support for research in countries such as China and India.
Key players: Key players operating in the organ on a chip market are Ball Corporation, Crown Holdings, Inc., Trivium Packaging B.V., Mauser Packaging Solutions, CCL Containers. The major players are focusing on new product launches and collaborations to gain a competitive advantage in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
