The global organ-on-a-chip market is expecting a strong CAGR for the coming years during the forecast period covering 2019 to 2025. Market Research Future (MRFR) includes several factors to understand the growth in a proper way. These factors are increasing investment from major companies, rising demand for better drug screening, the need for a personalized drug test, determining the regulatory status of the drug, various collaborations, and others. A surge in the creation of better human disease models can also boost the prospect of this market.
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The global market for organ-on-a-chip has been studied by MRFR researchers on the basis of a segmentation that includes organ type, application, and end user. The fetched data from these segments are expected to help the assessment of various strategic moves of this market.
By organ type, the global market can be segmented on the basis of lung-on-chip, heart-on-chip, intestine-on-chip, liver-on-chip, kidney-on-chip, human-on-chip, skin-on-chip, and blood-brain barrier-on-chip. The lung-on-chip segment is expected to lead the market with a substantial market presence. Other segments are also in line to impact the global healthcare sector.
By application, the global study of the organ-on-a-chip market can be segmented by drug discovery, toxicology research, and others. The drug discovery segment is the largest one, as it is getting a substantial boost from various pharmaceutical companies.
By end user, the global market study comprising details of organ-on-a-chip can be segmented into pharmaceutical companies, research organizations, and others. The pharmaceutical companies segment is leading the global market. The research organizations segment is getting good traction as their sector is getting boosted by an easy influx of funding.
The Americas is the largest regional organ-on-a-chip market. This regional market can be segmented into two distinct parts, like North and South America. North America is known for its superior infrastructure and benefits related to funding, owing to which the market may record easy growth in the coming years. In South America, the growth will be backed by Brazil and Argentina. In Europe, government initiatives to promote better research and development facilities are expected to establish a proper scope for growth.
The global market for organ-on-a-chip is getting benefits from several countries like TissUse GmbH (Germany), MIMETAS BV (Netherlands), CN Bio Innovations Limited (UK), Emulate, Inc. (US), InSphero (Switzerland), BioIVT (US), Hµrel Corporation, Nortis, Inc. (US), Axosim (US), Organovo Holdings Inc. (US), TARA Biosystems, Inc. (US), and HemoShear Therapeutics, LLC (US). These companies are contributing much in terms of strategies to boost the global market. Their strategies span across mergers, acquisitions, collaborations, investment hike for the research and development sector, better awareness, innovations, and others. Also, a lot of companies are looking at prospects with government initiatives, which may help the growth of the market. MRFR recorded these latest proceedings to dig deep into the market and understand how well the market can profit in the coming years.
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