Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Organ on a Chip Market Overview
Organ on a chip is defined as microfluidic 3D cell culture devices. Organ on a chip mimic the activities, mechanics and physiological response of entire organs. Organ on a chip are usually transparent, flexible and the size of the chip is almost the computer memory stick. It is also known as biomimetic microsystem.
Market Size and Forecast
The global organ on a chip market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Further, growing prevalence of chronic diseases such as heart failure, respiratory disease and others are envisioned to bolster the growth of organ on a chip market across the globe. Further, rising awareness among the population towards healthcare devices is believed to foster the demand for organ on a chip.
On the basis of organs, the global organ on a chip market is segmented into heart-on-chip, human-on-chip, intestine-on-chip, kidney-on-chip, liver-on-chip and lung-on-chip. Further, lung-on-chip is expected to project a highest CAGR by the end of 2024.
In terms of regional platform, the most prominent regional markets are North America and Europe. North America region is expected to dominate the market during the forecast period aided by U.S. Additionally, rising technological advancement and increasing research and development activities related with organ on a chip are believed to bolster the growth of organ on a chip market in this region. Moreover, presence of major key players of organ on a chip in North America region is also predicted to bolster the growth of organ on a chip market over the forecast period.CLICK TO DOWNLOAD FREE SAMPLE
Europe region accounted the second largest market of organ on a chip in terms of revenue in 2016. Additionally, rising demand for healthcare devices and growing adoption of advanced healthcare technology are believed to foster the growth of organ on a chip market. Asia-Pacific region is the fastest growing organ on a chip market during the forecast period. Likely, rising number of population affected with chronic diseases along with increasing government investment for better healthcare facilities are projected to flourish the growth of organ on a chip market in this region.
Market Segmentation
Our in-depth analysis segmented the global organ on a chip market in the following segments:
By Organ
By Region
Global organ on a chip market is further classified on the basis of region as follows:
Growth Drivers and Challenges
Factors such as rising healthcare expenditure across the globe and increasing death rate due to chronic diseases are believed to be the dynamic factor behind the rapid growth of organ on a chip market. Further, rising research and development activities by major key players to enhance the healthcare infrastructure is envisioned to foster the growth of organ on a chip market by the end of 2024. Likely, advancement in healthcare devices and increasing rate of organ transplant are expected to boost the demand for organ on a chip.
Moreover, favorable government initiatives regarding healthcare infrastructure in developing and underdeveloped nation and rapid urbanization are anticipated to elevate the organ on a chip market. Additionally, positive GDP growth of developed and developing nations such as U.S., China and others and growing adoption of innovative technology to cure chronic disease are predicted to fuel the growth of organ on a chip market.
However, high cost associated with organ on a chip and lack of adoption of innovative technology in underdeveloped nations is believed to hamper the growth of organ on a chip market by the end of 2024.
Key players
The major key players for organ on a chip market are as follows
Scope and Context
Overview of the Parent Market
Analyst View
Segmentation
The global organ on a chip market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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