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