The rising health issues and the growing demand for lung and kidney based organ culture devices are suggested to have a significant impact on the global organ-on-chip market for the forecast period. Furthermore, growing initiatives by prominent organizations for implementing the organ on chips technology is suggested to boost the organ-on-chip market. For instance, in 2017, Netherlands Organization for scientific research (NWO) discussed its plans for the Netherland organ on chip initiative focused on advancements and growth of the same. However, mimicking the highly complex architecture of human organs is suggested to be one of the hurdles for the global organ on chip market for the forecast period. The growing healthcare industry of the Asia pacific region and the high median age in China, which is one of the most significant economies in the Asia Pacific region are suggested to be major factors impacting the growth of the global organ-on-chip market for the forecast period.
The global organ-on-chip market can be segmented into four segments namely type, application, end use industries and regions. As per the type segment the organ-on-chip market can be further divided into five sub segments namely-liver on chip, heart on chip, lung on chip, kidney on chip and others. As per application the global organ-on-chip market could be divided into three sub parts namely- drug discovery, toxicology research and other. The drug discovery sub segment is anticipated to hold a prominent share of the market.
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Furthermore, as per the end use industry segment the global organ-on-chip market could be divided into four sub segments namely – healthcare, research cosmetics and others. The healthcare industry is suggested to hold the highest market share over the forecast period. As per the regional segment the organ on chip market can be divided amongst five regions namely North America, South America, Middle East and Africa, Asia Pacific, and Europe. The North America region is suggested to hold a higher market share owing to the rapid technological advancements in the region, however Asia Pacific is suggested to have a significant growth rate of the global organ-on-chip market over the forecast period owing to the high population and significant healthcare industry of the region.
Owing to its significant adoption in multiple application the organ-on-chip market is consisting of multiple leading players. Some of them are TissUse, InSphero, CN Bio, Emulate, SynVivo, Kirkstall, Mimetas, HUREL, Ascendance Bio, AxoSim and Nortis.