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Why is Organ-On-Chip Market Expected to Register Huge Progress in Asia-Pacific during 2018-2025?

by Vijay K. Web Marketing

The major drivers for the organ-on-chip market are government funding and support, increasing demand for the discovery and development of effective drugs, concerns with respect to drug testing on animals, and rise in the number of drug repurpose approaches. Generating a revenue of $11.0 million in 2017, the sales of such products are expected to value $163.1 million by 2025, witnessing a CAGR of 40.1% during 2018–2025 (forecast period). The term refers to extremely small cell culture chips with microfluidic channels, which simulate the workings of real human cells and tissues.

 

Download sample copy off this report@ https://www.psmarketresearch.com/market-analysis/organ-on-chip-market/report-sample

 

When segmented by type, the market is categorized into liver, lung, kidney, heart, intestine, brain, and others; others include bone marrow, artery, blood–brain barrier, and skin. Among these, the liver category dominated the organ-on-chip market in 2017, as a result of the rising cases of hepatic diseases, such as liver cancer, hepatic fibrosis, cirrhosis, and hepatitis, and the need for effective drugs. Even during the forecast period, it is projected to witness the highest CAGR, of 46.1%.

 

On the basis of application, the market divisions are physiological model development, toxicology research, and drug discovery. In 2017, toxicology research was the largest division in the market, with a share of 48.4%, in terms of revenue. This is attributed to the increasing usage of the toxin screening process in the biotechnology, pharmaceutical, cosmetics, consumer health, food, chemical, and agrochemicals domains, to study the effect of chemicals and other foreign agents on human health.

Browse full report at: https://www.psmarketresearch.com/market-analysis/organ-on-chip-market

Globally, North America held the largest share in the organ-on-chip market, with the U.S. as the larger revenue contributor, in 2017. This was due to the robust government support for technological research and development (R&D) and heavy investments by major pharma firms in the field. Asia-Pacific (APAC) is expected to witness the fastest progress in the industry, owing to the surging number of government initiative for R&D, escalating healthcare expenditure, and rising usage of advanced technologies.

 

Hence, as the requirement for cost-effective and fast drug delivery process increases, so would the adoption of organ-on-chips.

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About Vijay K. Senior   Web Marketing

211 connections, 3 recommendations, 864 honor points.
Joined APSense since, May 17th, 2016, From New York, United States.

Created on Sep 24th 2020 04:57. Viewed 124 times.

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