August 05, 2019
WELLESLEY, Mass., Aug 05, 2019–Reduction of animal-based research and a rising demand to enhance the effectiveness of clinical trials are two factors driving growth in the global organ-on-a-chip market, according to a report by BCC Research, “Organ-on-a-Chip: Global Markets.”
The market expects to see a compound annual growth rate (CAGR) of 39.9% through 2023, when it could be worth $60.6 billion.
Read the full report here: https://www.bccresearch.com/market-research/biotechnology/organ-on-a-chip-markets-research-report.html
“Organ-on-a-chip is a cellular culture chip containing various channels that allow fluidity, activity, mechanical and physiological simulation of cells,” writes BCC Research report analyst Vijay Laxmi. The main application of organ-on-a-chip in the pharmaceutical industry is cantered on preclinical drugs testing. Organ-on-a-chip also shows significant potential in the areas of drug screening, personalized medicine, phenotypic screening, lead optimization and disease modelling. Potential applications of organ-on-a-chip are in sectors such as agrochemicals, consumer goods, cosmetics, food and beverages, nutraceuticals, agriculture, chemicals and life science research.”
Innovation in the Organ-on-a-Chip Industry
Innovation is one of the key strategies adopted by companies, research institutes and academic institutes to explore the potentials available across stem cell research for the development of new drugs. Drug discovery and development is one the key factors that has increased innovations within the organ-on-a-chip market. Increased concern and strict government regulations for clinical trials in animals such as rats and mice have increased the need for the development of new and innovative techniques. Companies are continuously looking at research and development to enhance the effectiveness of their products which allows them a competitive advantage in the global market.
For example, a team of researchers at the University of California have incorporated cardiac cells in a heart-on-a-chip. The researchers produced cardiac cells from encouraged pluripotent stem cells derived from adult donor cells.
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Organ-on-a-Chip: Global Markets( BIO188A )
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