Global Organ-on-a-Chip Market: Overview
The global organ-on-a-chip market is likely to exhibit phenomenal growth over the period of assessment. Global organ-on-chip market is driven by growth factors, such as need for alternatives for animal testing and early detection of toxicity of drugs.
Transparency Market Research offers an assessment of global organ-on-chip market in an upcoming report. The study provides major particulars extracted from a broad analysis of the market and it also underscores market trends, drivers, geographies, and cost for the assessment period of 2019-2027.
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Global Organ-on-a-Chip Market: Notable Developments
In the recent times, the global organ-on-a-chip market has witnessed improvements in its dynamics. Some developments of the global organ-on-a-chip marketare mentioned below:
- In 2019, AxoSim, Inc., the leading provider of neuroscience discovery platforms that imitate the function and structure of the human nervous system, announced an acquiring of exclusive license of “Mini-Brain" technology from Johns Hopkins University. It is used to induce pluripotent stem cells (iPSCs) to produce functional models of the human brain. Mini-Brain technology allows scientists to make a study of key functions of the brain, test brand new therapies and screen for harmful substances in human beings rather than animal models at the early stage of research.
- In July 2019, a study ofnerve-on-a-chip technology by AxoSim revealed that the platform can accurately provide vital physiological readouts that could accelerate the development of drugs to treat neurological disorders. The study has also revealed that nerve-on-a-chip technology is the first all-human in vitro model, which can gauge crucial factors that were earlier only available using live animal models.
Some of the leading players in the global organ-on-a-chip market are AxoSimInc., Ascendance Biotechnology, Organovo Holdings, Tara Biosystems, Nortis Inc., and CN Bio Innovations among others.
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Global Organ-on-a-Chip Market: Key Trends
The global organ-on-a-chip market is likely to witness growth due to the following growth factor:
Rising Demand for Alternative to Animal Testing Bolsters Organ-on-a-Chip Market Growth
Human trials of drugs become all the more risky as animal tests are not so reliable. The National Institutes of Health (NIH) has observed that 95 percent of all the drugs that are shown to be effective and safe in animal tests fail in human trials as they are either dangerous or don't work.
In a bid to control high costs in drug development, there is an immediate need for the development of more predictive tissue models making use of human cells. Those human cells are meant to determine efficacy and safety of drugs ahead of clinical testing. Recent insights obtained through studies of fundamental biology have endorsed the significance of cellular communication and dynamic cell environments in the expression of high fidelity organ function.
Based on this knowledge, emerging technology of organ-on-a-chip is poised to fill the gaps in drug screening by offering predictive models of human tissue with methods of advanced tissue assembly. Organ-on-a-Chip startups have begun to arise from academic research to fill these commercial gaps and are drawing investment to change the drug discovery industry.
Global Organ-on-a-Chip Market: Geographical Analysis
Regionally, global organ-on-a-chip market is divided into North America, Europe, AsiaPacific, South America, and the Middle East and Africa. North America is anticipated to account fora lion’s share of the overall organ-on-a-chip market of the organ-on-chip owing to the favorable government initiatives aimed at funding the programs for research and basic drug development and concentration of key pharmaceutical companies.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.