Organ-On-Chip (OOC) Global Market Opportunities and Strategies to

DUBLIN, November 12, 2021–(BUSINESS WIRE)–The “Organ-On-Chip (OOC) Global Market Opportunities and Strategies to 2030: COVID-19 Impact and Recovery” report has been added to ResearchAndMarkets.com’s offering.

The global OOC market reached a value of nearly $50.8 million in 2020, having increased at a compound annual growth rate (CAGR) of 59.5% since 2015.

The market is expected to grow from $50.8 million in 2020 to $177.8 million in 2025 at a rate of 28.5%. The market is then expected to grow at a CAGR of 14.6% from 2025 and reach $350.8 million in 2030.

Growth in the historic period resulted from increased demand for personalized medicine, the growing need to minimize financial losses due to late-stage drug failure, and substantial funding of public and private sources for OOC start-ups and research groups. Factors that negatively affected growth in the historic period were the high costs associated with OOCs, the limitations of polydimethylsiloxane (PDMS), the most commonly used substrate material for the fabrication of OOCs and lack of skilled resources for the development of the OOC technology.

Going forward, the adoption of OOC technology by major pharmaceutical companies such as Roche and AstraZeneca among many others, increasing drug repurposing approaches in the OOC industry, and rising healthcare expenditure will drive growth in the forecast period.

Factors that could hinder the growth of the OOC market in the future include compatibility problems that may occur due to the lack of standardization, OOCs are not high throughput to conduct multiple assays, cell survivability issues, the COVID-19 pandemic, and resistance in the adoption and regulation of new medical options can negatively impact the market growth.

The OOC market is segmented by organ type into multi-organs-on-chip, lung-on-chip, heart-on-chip, liver-on-chip, intestine-on-chip, kidney-on-chip, skin-on-chip, blood-brain-barrier-on-chip, and other organ models. The other organ model segment was the largest segment of the OOC market segment by organ, accounting for 14.6% of the total in 2020. Going forward, the heart-on-chip segment is expected to be the fastest-growing segment at a CAGR of 32.6% during 2020-2025.

Story continues

The OOC market is also segmented by application into toxicology research, drug discovery, molecular biology, disease modelling, food safety, and other applications. The toxicology research segment was the largest segment of the OOC market by application, accounting for 30.4% of the total in 2020. Going forward, the drug discovery segment is expected to be the fastest-growing segment at a CAGR of 30.2% during 2020-2025.

The OOC market is also segmented by end-users into biopharmaceutical companies, academics, food & beverages and other commercial industries. The biopharmaceutical companies’ segment was the largest segment of the OOC market by end-users, accounting for 54.4% of the total in 2020. Going forward, the biopharmaceutical companies is expected to…