Organ on Chip Market Size, Share, Growth Analysis, By Organ Type(Liver, Kidney, Lungs, Heart), By Application(Drug-discovery, Disease Modelling, and Toxicity Testing), By End-User(Biotech &Pharma Companies, Contract Research Organisations and Academic & Research Institutes.), By Region - Industry Forecast 2024-2031

Organ on Chip Market size was valued at USD 52.53 Billion in 2022 and is poised to grow from USD 68.63 Billion in 2023 to USD 448.92 Billion by 2031, growing at a CAGR of 30.76% during the forecast period (2024-2031).

There is an intense competition in this market. Big Major companies like Emulate, TissUse GmbH, CN Nio Innovations are the leading companies in this market. They are at the forefront of developing these platforms offering drug discovery solutions, safety testing and disease modelling. Startups like Hesperos Inc., AxoSim Technologies and Nortis Inc., are delivering cutting –edge tech to develop human-on-a chip platforms for disease research and personalised medicine. Additionally, many academic institutes like Wyss Institute for Biologically Inspired Engineering at Harvard University, the Institute for Bioengineering of Catalonia and Massachusetts Institute of Technology are contributing through interdisciplinary research and innovation. 'Emulate, Inc. (US)', 'TissUse GmbH (Germany)', 'CN Bio Innovations (UK)', 'Hesperos, Inc. (US)', 'AxoSim Technologies (US)', 'Nortis, Inc. (US)', 'Mimetas (Netherlands)', 'MIMETAS B.V. (Netherlands)', 'Tara Biosystems (US)', 'Kirkstall Ltd. (UK)', 'SynVivo (US)', 'Cherry Biotech (France)', 'InSphero AG (Switzerland)', 'Elveflow (France)', 'Ascendance Biotechnology, Inc. (US)', 'Draper (US)', 'Mimica (US)', 'Zyoxel Ltd. (UK)', 'AxoNet Medical Systems, Inc. (US)', 'AxoSim Technologies (US)'

The consumers across the world are rising voices in the favour of animal free testing. With this awareness, the demand for organ on chip platforms have a huge role to play in drug discovery, toxicity testing and many other such things which can give further push to this market.

Focus on accurate drug predictions: Due to the rising costs and decreasing effectiveness of research and development of drugs, the pharmaceutical industry faces many difficulties. Therefore, the companies are testing new methods produce accurate drug safety and effectiveness predictions.

North America has traditionally been the largest market for the organ-on-chip technology. It is leading region in the adoption of this tech due to presence of various pharma companies, research institutions and tech developers. This region has a robust environment for biotech and life science which caters to new innovations. Regulatory agencies like FDA engage with the stakeholders to explore the potential use in drug discovery and safety assessments.